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October 31, 2018

Investors from India have chosen two East Bound winners

On the second day of the Open Innovations Forum, a regular pitch session of Russian startups took place, who presented their projects to investors from India. The East Bound competition was organized by VEB Innovations and the Skolkovo Foundation.

Today the projects were presented by PimPay startups (services for online stores, optimizing logistics and finances), Nimb (ring with safety button), "Thermoelectrics" (early warning systems for fire-hazardous and emergency situations), MaxBionic (prosthetics technology), HeedBook (neural and machine vision customer service quality analysis system), Data Matrix (clinical research automation solutions) and 7seconds (financial analysis system based on Big Data).

The winners of the pitch session were two companies: Thermoelectric and HeadBook. Indian investors also expressed their desire to hold a meeting with the founders of the Data Matrix project.

Chairman of the Skolkovo Foundation Arkady Dvorkovich noted the importance of pitch sessions for the agenda of the forum. The point is to find really competitive projects that are optimal in terms of value for money. "Such projects represent value for the market, value for business, value for people", - he emphasized.

"Thanks to its strong scientific and technical base, Russia currently plays an active role as a supplier of technologies and innovations to domestic and international markets. It should also be noted that Russia and India are strategic partners with experience in implementing joint projects of cooperation. These favorable conditions have formed a fantastic foundation for the creation of a joint venture fund Viman Capital, which supports technology projects in B2B and B2C segments of the two countries, and helps to expand the Russia-India corridor. Thanks to the EastBound competition, we learned about the latest technologies and solutions in the Russian market and chose the best projects for our pipeline," said Samir Zoni, CEO of Srei Infrastructure Finance.

In total, more than 50 applications from Russian high-tech companies were submitted to the East Bound contest, among which experts selected 21 most promising projects. The key criteria were readiness to export and enter foreign markets, as well as potential competitiveness in the global arena. The next pitch session at Open Innovations will take place on Wednesday with investors from Japan.

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