Russia hosts forum on Internet entrepreneurship

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June 18, 2014
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Photo of staff at Yandex exploring the Internet company's analytics.
Staff at Yandex explore the Internet company’s analytics. © Kirill Kallinkikov, RIA Novosti

On June 10, Russia’s Internet Initiatives Development Fund hosted the Internet Entrepreneurship in Russia Forum, attended by President Putin, representatives of development institutions and investment funds and executives of Russia's largest online businesses, such as Yandex, Rambler, Mail.ru, OZON, RBC.ru and LiveInternet.

Fostering entrepreneurs in Russia

One of the priorities of the Internet Initiatives Development Fund (IIDF) is to provide financial and expert support to startups in their early stages of developments. As part of this initiative, the IIDF’s Internet Entrepreneurship in Russia Forum aimed to discuss the challenges and opportunities in developing and supporting Internet entrepreneurship in Russia as well as to explore recent global and local industry trends. Representatives of the Russian online business community and investment funds also talked about cooperation among online companies and funds to establish the Internet industry as a separate branch of the Russian economy.

Insights from Internet company leaders

The forum featured high-profile leaders of Russian Internet companies, who highlighted how far Russia has come in this economic sector. CEO of search engine Yandex, Arkady Volozh, emphasized the importance of entrepreneurship – and, in particular, Yandex’s services – for Russia when only three or four countries in the world have their own search engines. Maelle Gavet, CEO of Ozon.ru, added that Russia now has its own domestic versions of Google (Yandex), Facebook (Vkontakte), and Amazon (Ozon). Gavet also added that online innovations in Russia are growing and many new technologies are currently being developed.

Read more about the success of Yandex and Ozon.ru:

The Internet Entrepreneurship in Russia Forum is not the only initiative in place to support entrepreneurs – Russia recently hosted the second annual Startup Village exposition, a two-day event which presented the achievements of the entrepreneurship projects supported by the Internet Initiatives Development Fund since 2013.

How can Internet entrepreneurs achieve success in Russia?

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