Internet Initiatives Development Fund (IIDF)

What is Internet Initiatives Development Fund (IIDF)?

The Internet Initiatives Development Fund (IIDF), founded in 2013, is a Russian venture capital fund focused on supporting and investing in early-stage startups, particularly in the IT sector. IIDF operates with an investment range between $400,000 and $5,400,000, dedicating its resources to nurturing young companies through financial aid and expert guidance.

They run a notable three-month accelerator program for pre-seed stage startups multiple times a year, designed to enable these companies to scale and advance to later funding rounds.

IIDF's active involvement in each startup's growth is evidenced by the success of over 200 IT startups since the program's inception.

Alongside its accelerator, IIDF plans to implement various educational initiatives and legislative actions aimed at increasing the transparency and efficacy of venture capital investments in Russian online businesses. These educational programs and legislative proposals are intended to bolster the cooperation among entrepreneurs, investors, and state agencies, fostering a congenial environment for the development of small and medium-sized online enterprises in Russia.

Their website suggests a strong commitment to international growth by helping Russian IT companies penetrate global markets through their GoGlobal service. This service assists in the preparation and execution of international marketing strategies for B2B and B2C IT products, aiming to increase their chances of success on a global scale.

Moreover, IIDF has contributed to the ecosystem by participating in large-scale projects, supporting various startups across tech sectors including educational platforms like Skyeng, HR technologies like Robot Vera, and marketing and sales automation tools such as amoCRM and Freedom24.ru.

The fund's mission extends to offering a diverse selection of services that aids IT startups in achieving IPO readiness and broader market expansion.