GVA Launches Russia Plug and Play Startup Accelerator

The Global Venture Alliance (GVA) will launch Russia’s first start-up acceleration center on Monday to promote their entrance to global markets, GVA said.

The technological center will provide co-working space, communications and a chance for start-ups to draw investors’ attention, GVA said.

GVA launched the project with the support of the Moscow Government and jointly with the California-based Plug and Play company, which has created a network of such acceleration startups across the world.

“The management of GVA and PnP attended the Economic Forum – Russian Startups: local or global players, held in St.Petersburg, and it showed that the most frequent mistake of Russian startups is an attempt to build their own channels for conducting foreign businesses instead of using the existing resources of big corporations,” GVA said in a statement.

Any high-tech start-up that has been assessed as meeting the necessary requirements and proved the innovative nature of its products will be able to work in the center.

In exchange for a place to work, the start-up accelerator will get a share in the company’s business, a GVA representative said.

Aside from providing premises and equipment at reduced rates, the start-up accelerator will give companies access to the best experts from Silicon Valley and a pool of global venture capitalists.


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