Russian business angels to access Gust’s international investment platform

Gust, the investor relation platform connecting high-growth entrepreneurs and active early-stage investors, and the Russian National Association of Business Angels (NABA), announced last week they have signed an agreement to allow Russian investors to access Gust’s platform. NABA is a not-for-profit organization representing the organized business angels, seed funds, and other early-stage venture capitalist communities …

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Speaktoit secures funding from Intel Capital

Speaktoit, a developer of technologies based on natural language conversations, announced last week it has received an investment from Intel’s investment arm, Intel Capital. The investment amount and the startup’s valuation are kept undisclosed. Founded in Russia in October, 2010, Speaktoit attracted angel money in January, 2011. It also received a grant from Skolkovo, the state-sponsored …

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New industry association to promote satellite geolocation services

Aiming to develop Russia’s navigation and information service market, a group of Russian satellite service providers as well as telecom and Internet market players have established an industry association called Assistance in the Development and Use of Navigation Technologies. The initiative was announced earlier this month by national navigation service provider NIS GLONASS, which is …

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IFC partners with IXcellerate to expand access to IT infrastructure in Russia

Moscow, Russia — IFC, a member of the World Bank Group, is making a $2.6 million (RUB 83 million) equity investment in datacenter operator IXcellerate to support the construction of a major data facility, expanding access to information technology infrastructure for businesses in Russia. Construction of a new top-tier datacenter with an internationally experienced management …

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Vkontakte’s IPO “postponed indefinitely;” shareholder Mail.ru Group yields control to founder

“No IPO is being planned. Facebook’s IPO has destroyed the trust of many individual investors in social networks, so [our] IPO is postponed indefinitely,” Vkontakte’s founder and co-owner Pavel Durov tweeted on Monday, answering a Russian journalist’s question. Durov had expressed his IPO intentions a mere five months ago at the DLD tech conference in …

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Police drop the ball on copyright complaint; culprit remains unidentified

In yet another investigative deadlock only too common for cybercrime cases in Russia, Moscow police have suspended what could have become a bellwether inquiry into a copyright infringement offence, Russian business daily Vedomosti reported earlier this week, citing an official police source. A 27-year-old Muscovite has been suspected of having “replicated and disseminated” 18 copyrighted music …

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LTE tenders scheduled for July; Tele2 could sell its Russian subsidiary in case of failure

Tele2 Russia, the Russian subsidiary of a European telecommunication group based in Sweden, will take part in upcoming tenders for allocation of LTE frequencies across Russia in the 791-862 MHz range. After being postponed several times, the upcoming tenders are scheduled for the 16th of July, 2012. “We understand that our chances are not great, based …

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Russian social gaming market nearly tripled in 2011

According to Mail.Ru Games, in 2011 the total social gaming market in Russia reached $236 million, which is 180% higher than in 2010. Such impressive growth was accompanied by redistribution of the income: developers’ and social networks’ share has increased, while earnings of payment systems decreased. The Russian social gaming market is booming at an …

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Leta Group launches venture fund, announces Displair as first investment

Last week, Leta Group, a prominent Russian IT security holding, announced  the launch of ‘Leta GIV,’ its corporate venture arm, along with its first investment – interactive air screen maker Displair. “Generating projects internally is not enough to seize the opportunities offered by Russia’s booming innovation environment, so we decided to create this dedicated vehicle,” …

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The Russian microelectronics industry and national security

It is often forgotten, in today’s mobile, networked, and information-driven business climate, that many of the world’s most prominent “Silicon Valleys” – Hsin-chu, Taiwan; Ang Mo Kio, Singapore; “Silicon Saxony,” Germany; and even the original American Silicon Valley in the San Francisco Bay Area of California – were built largely or entirely on the semiconductor, or microelectronics, …

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Fast Lane Ventures and Ru-Net launch event management and ticket booking system

Moscow-based serial startup developer Fast Lane Ventures has teamed up with Ru-Net, an established Russian venture fund, to launch Eventmag.ru, an online service to organize events and book event tickets. The well known US site Eventbrite.com was taken as a model, Fast Lane openly acknowledges, with the ultimate goal of providing a ticket selling platform …

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