The GS Group investment and industry holding company and the Internet Initiatives Development Fund (IIDF) are planning to launch a joint accelerator program for developing startups in the field of Internet of Things (IoT) until the end of 2016. It will be focused on projects developing mobile applications, web services, detecting devices, sensors, portable devices, information and analytical systems. Each of the selected companies will be able to raise investment funds in the amount of 300 mln Rubles from GS Group to launch large-scale production at the facilities of the holding company in the Kaliningrad region, Russia.
The Internet Initiatives Development Fund engages GS Group to work within accelerator as the Russian leader in development and production of consumer electronics and as one of the active participants of dialogue between the industry community and the relevant Ministries. The purpose of the accelerator is finding and developing IoT projects in priority fields. The GS Group holding company has been developing smart home and smart city areas for several years already.
“IIDF together with the leaders of the IT market is going to build a sector of promising IoT startups. Partnership between the Fund and GS Group will allow projects from the joint accelerator to gain a unique experience for the evolvement of the in-house solutions and products in new prospective market.” – Mr. Yevgeny Borisov, Chief Development Officer of the Internet Initiatives Development Fund.
“The GS Group holding company is interested in evolving projects related to the development and production of electronics and microelectronics in the IoT industry. Today, Russia offers necessary conditions for the rapid growth of such manufactures: significant volume of the domestic market of BRICS and SCO countries, a well-developed telecom infrastructure, growing user demands, and the availability of advanced technology. GS Group owns and operates advanced production facilities in the Kaliningrad region, which could become a platform for a mass production of innovative products from participants of the GS Group and IIDF’s accelerator program.” – Mr. Andrew Bezrukov, Director for Strategic Marketing of GS Group.
The GS Group holding company is a part of the IIDF’s workgroup for creating a roadmap for IoT development, which was requested by the Strategic Council on Investments in New Industries from The Ministry of Industry and Trade of the Russian Federation.