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What is Skolkovo

What is Skolkovo. Newly built innovation city MIT-driven Post-graduate research University Pipeline of new startups VC network Up to 80 Multinationals Techno park services Direct links to President and Government Ministries. Special conditions for startups in Skolkovo.

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What is Skolkovo

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  1. What is Skolkovo • Newly built innovation city • MIT-driven Post-graduate research University • Pipeline of new startups • VC network • Up to 80 Multinationals • Techno park services • Direct links to President and Government Ministries

  2. Special conditions for startups in Skolkovo • No VAT or profit taxfor up to 10 years if profit is <$10M/year and turnover is <$30M/year • 14%unified social tax rate for residents • Refund of import customsduties and VAT expenses paid during import to the RF customs territory • Lower administrative burden • Better market access • Techno park services

  3. Pipeline Grants approved for the total amount $170m 2 months Applied for Grant Skolkovo start-ups 1 month Business plans reviewed in 12 months

  4. Skolkovo Grants Skolkovo Grants: • Typical non-dilutive financing amounts • Start-up – up to $1m • Growth – up to $5m • Expansion – up to $10m • Co-investment requirements, % of the total project budget • Start-up – at least 25% • Growth – at least 50% • Expansion – at least 75% • Co-investment preferences • Cash co-investment preferred • Investor’s global track record in particular sector 100%Skolkovo Up to$50K Up to $1m Up to$5m Up to$10m LATE-STAGE EARLY-STAGE SEED PRE-SEED Grant application Primary project selection Due Diligence Grant Committee • Investment Office • Cluster Skolkovo Private Sector 2months (Unsurpassed speed of delivery of up to $10m USD) >25% private

  5. VCs accredited with Skolkovo Foundation 1. AlmazCapital 2. Exigen Capital 3. Pangaea Ventures 4. S-Group Capital management 5. Runa Capital 6. Foresight Ventures 7. Maxwell Biotech 8. VTB Capital 9. Bioprocess Capital 10. Leader Asset Management • Over 20 leading Russian and international VCs signed MoUs with Skolkovo • ~$300m – soft commitments to invest in Skolkovo residents • 25 Skolkovo residents are backed by accredited VCs

  6. Case Study: Rock Flow Dynamics RockFlow Dynamics, backed by Intel Capital, received grant financing from Skolkovo Foundation. Rock Flow Dynamics (RFD) develops software for the petroleum industry. It offers a wide range of advanced innovative tools for reservoir engineering implemented in tNavigator – the dynamic reservoir simulator developed by the company. 2005 … 2007 … IVQ2010 IQ2011 IIQ2011 IIIQ2011 IVQ2011 • Established in 2005 • Profitable since 2007 • Backed by Intel Capital in November 2010 • Applied to Skolkovo in June 2011 • Received Skolkovo resident status in July 2011 • Received Grant financing from Skolkovo in October 2011

  7. Key partners International companies Russian companies

  8. Thank you

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