RMA students will become startup-acceleration consultants
In September of 2001 a screening has began for the best projects to be submitted to a Russian analog of Y Combinator - InCube Accelerator, created under patronage of the Russian Presidential Academy of National Economy and Public Administration business incubator, in which a process of startup incubation will proceed in the areas of SaaS, e-commerce and mobile technologies. Up to 10 selected projects will be awarded a $20 000 financing coming from Yandex company, Runa Capital fund as well as number of private investors. Within 3 months the recipients will have to present an improved or built from scratch functional prototype and be able to generate their first sales.
While working on their projects, the teams will receive consultations from the Russian internet industry experts, including the current RMA students. The latter will be helping the startups to formulate the effectiveness of the chosen business models, and assist in quantifying the expected volumes of investments that will be needed to fulfill the project to completion.
Partnership with InCube Accelerator is a new practical avenue that will provide the RMA students with the hands on framework of application of their freshly acquired knowledge to produce a functional product that will be beneficial to the industry. Their previous partnerships have helped many projects to reach success and gain the substantial user base numbering in tens and hundreds of thousands of users.