The Department of Science and Technology (DST), Government of India, and Global Venture Alliance (GVA) in Moscow are partnering to run a bilateral Entrepreneur Exchange Program: "India Russia Bridge for Innovations (IRBI)". As many as 10 India-born startups will participate in the bilateral exchange program.
The accelerator program will take place in Moscow and will be coordinated by IIT-B’s Society for Innovation and Entrepreneurship (SINE) in Mumbai and GVA, in the final week of September this year.
The program is the first of its kind initiative between India and Russia that will focus on science and technology based entrepreneurship. It will not only lay foundations for increased bilateral trade across the nations, but also further goals of key national initiatives like Start-Up India, Make-in-India and Digital India.
The selected startups are in areas of medical devices and applications, energy, IoT, Edtech and Retail Tech. The expected outcome of the program is for the entrepreneurs to acquire knowledge from experts in Russia in order to find partners, clients and test their products in local market through a collaborative ecosystem. There is also a potential to pioneer new cross border partnerships and collaborative programs between the two countries.
Speaking to SupportBiz, Anmol Vij, CEO, Shopsup, one of the ten startups selected, said, “I am quite excited to be part of the 10 StartUps and I am eager to learn about Russian Market and also understand the StartUp Ecosystem in Russia.
Anmol, who is already in Moscow also said that ShopsUp is a hyperlocal store discovery app.It[mobile app] enhances users’ shopping experiences and helps brick and mortar stores increase customer footfall.”
“"DST is starting many such programs and I personally feel, this is the right time to build a start up in India. There is huge potential in Russia and we will hold meetings with entrepreneurs and business houses. We will also go for a trial run of the app there,” he concluded.