Smart money for smart startups

September 29, 2014

GS Venture examined promising startups at the Wearable Tech Conference & Expo

Representative of the GS Venture corporate venture fund attended Wearable Tech Conference & Expo devoted to wearable gadgets and technologies that was held on September 23-24, 2014 in Moscow, Russia. The expert distinguished a growing interest of the Russian audience to this area.

Anton Aleksishin, venture projects specialist, GS Group, carried out an expert evaluation of the projects presented at the Wearable Tech Conference & Expo. Attending the exhibition and conference has become yet another event in the program of activities of the GS Venture corporate venture fund, launched within the structure of the GS Group holding company in 2013. According to the tasks in hand, the fund seeks to explore the national high technologies market, obtain information about the opportunities of cooperation with the Russian innovators, and find promising startups that would become investment projects.

“According to news agencies, more than 100 million “smart” devices will be sold worldwide by the end of 2014, which indicates a high consumer interest in wearable gadgets, – comments Anton Aleksishin, venture projects specialist, GS Group. – GS Group as one of the leading Russian manufacturers of electronics is undoubtedly open to the new business area and is interested in cooperation with national companies. The Wearable Tech Conference & Expo not only allowed us to find out more about the current situation in the local market, but also to come across promising projects and get contacts of its developers and representatives.”

GS Venture corporate venture fund was launched to provide funding and support for the startups and young innovators, implementing projects primarily in the field of Pay-TV and telecommunications industry. The fund’s area of interest also includes wearable electronics. It was proven by GS Group being involved as a member of the judging panel of the Internet of Things contest, established by the Skolkovo Foundation in September–November 2014.

Being the first event in Russia and the CIS dedicated to wearable technologies, Wearable Tech Conference & Expo has the potential to turn into one of the most influential events in this area.