Digital October Center, PwC and Russia Beyond The Headlines compile first Russian startup rating

December 10, 2012

The first index of Russian startups, Russian Startup Rating, was presented at the TechCrunch Moscow 2012 international conference. The purpose of the index was objectively to evaluate the growth dynamics and potential of new technology companies in Russia

Russian Startup Rating, the first index of Russian startups, was presented at the TechCrunch Moscow 2012 international conference. The rating was prepared by the Digital October Center for New Technologies and Entrepreneurship, PwC and Russia Beyond the Headlines, with the support of Russian Venture Company. The purpose of the index was objectively to evaluate the growth dynamics and potential of new technology companies in Russia.

The rating was drawn up by assessing new Russian startups on a range of criteria. The Digital October center collected the information for the rating, while PwC's Center for Technology and Innovation developed the survey for the rating’s participants and Russia Beyond The Headlines is responsible for ensuring the rating is published in leading international media.

Russian startups meeting the following criteria were invited to participate in the rating:

  • The startup must operate in the IT (internet and mobile services), high-tech (engineering projects, technological devices, hardware etc.) or biological sciences (biotechnology and medicine) sphere.
  • IT companies must have been founded less than four years ago, five years for the high-tech industry and six years for companies operating in the biology sphere,
  • The company must have less than 100 employees,
  • The company must be registered and operate in Russia (at least partially).

 

A total of 272 surveys were received from companies wishing to be included in the rating, 224 of which met the criteria in full. Each application was evaluated based on the information received from the company and an assessment by around 40 experts in their respective markets. The expert panel comprised venture investors, angel investors and managers of business incubators in Russia. Each startup was then issued with an index value upon which the rating was compiled.

The Russian Startup Rating will be conducted every six months, giving those interested the opportunity to follow the growth dynamics of individual companies and the Russian startup market as a whole. This frequency also allows the emergence of new players to be monitored. The results of the rating show quite a high level of startup development in all spheres: out of more than 220 startups that were included in the rating, almost 40% received a category A rating or above. The majority of startups had already attracted investments, demonstrated promising results following the launch of their products and are employing successful marketing strategies.

Russia Beyond The Headlines prepared a summary of the top 50 new Russian startups based on the Russian Startup Rating. This list, which will include details of the leading startups, will appear in Rossiskaya gazeta supplements both in Russia and abroad. The total circulation of these publications will amount to 5.6 million copies.

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