Internet Initiatives Development Fund (IIDF): The Leading Russian Accelerator for Startups

The Internet Initiatives Development Fund (IIDF) is a leading Russian accelerator and venture fund dedicated to supporting technology startups at various stages of development. Founded in 2013, IIDF has become the largest fund in Russia focused on the development of digital and internet initiatives, as well as one of the most active investors in Russian technology companies. The fund provides financing, acceleration programs, training, and mentoring support for entrepreneurs, helping them grow and enter international markets. In this article, we will explore in detail what IIDF does, the programs it offers, and the successful startups that have benefited from its support, along with sharing the experience of working on the Open Oil Market project.

What Does IIDF Do?

IIDF provides comprehensive support to startups, including financing, acceleration, training, and assistance in finding customers. The main areas of the fund's activities include:

1. Financing for Startups at Various Stages of Development
   IIDF invests in early-stage startups (seed and pre-seed stages), providing initial funding and helping projects grow. Funding is offered in exchange for equity in the company, allowing startups to raise funds for product development, testing, and market entry.

2. Acceleration and Incubation Programs
   IIDF offers acceleration programs that help startups speed up their development, refine products, and prepare for fundraising. During these programs, participants receive training, access to experts, and opportunities for collaboration with major corporations.

3. Educational Programs and Mentorship
   The fund conducts training for startups and entrepreneurs, organizing workshops, master classes, and courses on topics such as marketing, finance, project management, and product development. IIDF mentors, including successful entrepreneurs and investors, help participants enhance their business models and avoid common pitfalls.

4. Corporate Programs and Customer Acquisition
   IIDF actively collaborates with large corporations, providing startups opportunities to secure contracts and conduct pilot projects with leading companies. This helps startups to find their first customers and accelerate the commercialization of their products.

5. Support for International Development
   The fund helps startups aiming to enter international markets by granting access to foreign accelerators and venture funds, along with organizing trips and business missions to other countries.

Program at the Corporate University of Sberbank

During my studies at the Corporate University of Sberbank, I worked on the Open Oil Market project. Within the framework of the program, IIDF mentors tracked our project, overseeing its development and helping us refine our business model. Thanks to our collaboration and the support from the mentors, our team was able to present the project to the Sberbank board and defend it with the highest score, marking an important milestone in the development of Open Oil Market and allowing us to reach a new level.

Key Programs of IIDF

1. Acceleration Program

   IIDF's acceleration program is aimed at technology startups that are in the product development stage or already have an initial version ready for market testing. The program lasts three months and includes training, mentorship, product development support, and assistance in attracting investments.

   • Financing and Participation Conditions: Startups can receive investments of up to 25 million rubles in exchange for equity. Participants also gain access to experts and mentors who help accelerate business development.
   • Mentorship and Training: Startups work with experienced entrepreneurs and specialists who assist in improving business models, developing go-to-market strategies, and preparing for subsequent fundraising.

2. Incubation Program

   IIDF's incubation program is designed for nascent startups that are beginning to develop an idea or explore routes to market. Under this program, startups receive support for conducting research, developing prototypes, and preparing to attract initial customers.

   • Support at the Idea Stage: Startups can receive consultations from IIDF experts on product development, marketing, and project management.
   • Pilot Projects with Large Companies: The program also provides opportunities for piloting projects with corporations, facilitating the acquisition of initial customers and expediting commercialization.

3. Corporate Accelerators

   IIDF collaborates with major Russian and international corporations to conduct corporate acceleration programs. Within the framework of these programs, startups can tailor their solutions to the needs of corporate clients, while corporations gain access to innovations and new technologies.

4. Educational Programs

   The fund organizes educational events for startups, including workshops, master classes, and online courses on project management, product development, and marketing. These events help entrepreneurs enhance their skills and knowledge, contributing to the successful growth of their companies.

Examples of Successful Startups That Have Passed Through IIDF

1. TimePad

   TimePad is a Russian platform for event organization and ticket sales. The startup completed IIDF's acceleration program and attracted investments, which helped accelerate its development and enhance the platform's functionality. Today, TimePad is one of the most popular platforms for event organization in Russia.

2. CarPrice

   CarPrice is an online auction for selling used cars. The project went through IIDF's acceleration program, which enabled the company to attract investments and rapidly scale its business. CarPrice has become one of the leaders in the Russian used car market and continues to grow as one of the largest online platforms in this sector.

3. YouDo

   YouDo is a service that allows users to find performers for various tasks, such as repairs, cleaning, courier delivery, and other services. The startup completed IIDF's acceleration program, which facilitated rapid growth and expanded the platform's functionality. Today, YouDo actively operates in the Russian market and attracts thousands of new customers monthly.

Benefits of Participating in IIDF Programs

1. Early-Stage Financing

   IIDF provides startups with initial investments that help in product development, research, and market entry. This is especially critical for startups that lack other funding sources at the early stages.

2. Training and Mentorship Support

   The fund offers educational programs and mentorship that help startups improve their business models, develop marketing strategies, and avoid common mistakes.

3. Access to Large Corporations

   Participation in IIDF's corporate programs allows startups to conduct pilot projects with large companies, accelerating commercialization and aiding in finding initial customers.

4. International Development

   IIDF assists startups in reaching international markets by organizing trips, business missions, and partnerships with foreign accelerators and investors.

5. Support After Program Completion

   IIDF continues to support startups after the completion of the acceleration program, offering assistance in attracting subsequent investments and business development.

The Internet Initiatives Development Fund (IIDF) is the largest Russian accelerator and venture fund providing comprehensive support for technology startups. Through its acceleration programs, educational initiatives, and partnerships with large corporations, IIDF aids startups in growing, attracting investments, and entering new markets. Examples of successful companies like TimePad, CarPrice, YouDo, along with the experience of working on Open Oil Market, demonstrate how participation in IIDF programs can be key to rapid growth and success for a startup.