API Moscow plans to support tech startups in the Russian capital

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September 24, 2013
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Photo of the Moscow skyline, where API moscow hopes to support startups.
Moscow City hopes to attract and retain tech entrepreneurs through programs like API Moscow ©N. Rakhmanov, RIA Novosti

The Moscow Innovation Development Center announced earlier this month the opening of API Moscow, its first infrastructure program for accelerating tech startups in Russia. The program aims to keep Russia’s top entrepreneurial talent in the country by offering the tools necessary for successful IT startup development.

API Moscow will host startups offering unique business solutions based on innovative applications of technology. Target areas for the program include neurobiotics – the study of how the brain and nervous system can interact directly with computer systems – and organic agriculture, among others.

The API Moscow accelerator adheres to a philosophy of “kill fast or grow fast,” offering concentrated resources to find out quickly whether a project is worth continued support.

It will offer startups educational programming, consultations, meetings with industry leaders and venture capitalists, as well as “the opportunity to work in a stimulating environment alongside other ambitious and promising entrepreneurs,” according to the program’s website.

Four companies were chosen to serve as accredited partners of the accelerator: Global TechInnovations, Atsani Limited, Vestor.In Partners LLC, and Altair.VTs Limited.

API Moscow is part of the larger Moscow Technology Incubation Program (MTIP), developed under the auspices of Moscow Mayor Sergey Sobyanin and geared toward the creation of a supportive and productive environment for tech startups in Moscow.

Konstantin Fokin, CEO of API Moscow, said in a statement that MTIP is the most important activity in the innovation development sphere, and provides “an excellent opportunity for young entrepreneurs to reach profound results in Russian and foreign markets.”

Fokin further stated that MTIP will continue to expand and offer new venues for startups in Moscow in hopes that Russia’s best and brightest tech minds will start their businesses at home rather than taking their talents abroad.

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