NPO Energomash, Skolkovo Launch Business Accelerator

MOSCOW (Roscosmos PR) — NPO Energomash (part of Roscosmos) and Skolkovo Foundation launch a business accelerator aimed at searching perspective technological projects for Energomash and rocket engine manufacturing integrated structure. The launch event included participants from NPO Energomash management, Skolkovo Foundation and representatives of smaller innovative companies. Energomash and Skolkovo management spoke about the aims and tasks of the business accelerator, as well as the way to select projects will be conducted.

According to the agreement signed, the projects will be selected in several directions: new digital technologies, engine building and civil products. The main aim is to cut costs, facilitate development and manufacturing cycle, find perspective technologies to develop new engine design solutions, materials and components, as well as technologies to create non-core products being in demand in the market. Those include oil and gas, pumping, machine-tool and fuel and energy industry equipment.

While opening the meeting, Skolkovo Foundation Director for Project Development Ilya Vorobyov noted that Skolkovo is eager to show the capabilities of the Foundation participants. “We hope this pilot project will be followed by others in the sphere of space,” he added.

Energomash Head of Marketing and Sales Vitaly Serikov stressed that the company is interested only in the projects that can be applied at the enterprises and have a tangible economic effect. He also noted that the project success would largely depend on the teamwork and Energomash experts who will select interesting ideas.

The meeting agenda included voicing business accelerator key work stages. The project selection started on January 15, 2020 and will finish on February 29, 2020. 25 selected projects will be presented to Energomash technical and economical departments’ representatives, as well as Skolkovo Foundation experts in person. They will estimate the projects and select from two to ten projects for further working out. The final accelerator is scheduled for June 15, 2020 with participation of Roscosmos and NPO Energomash management.

The chosen projects can be implemented according to two scenarios: if the project is interesting to implement the technology at Energomash manufacturing facilities – then the acceleration program elaborates a way to implement it. The second way is to create an investment document if the business accelerator participant is ready to sell the project or technology to Energomash. A document will be created to be defended during the Energomash and/or Roscosmos investment committee.

“If Energomash starts buying products or services from the accelerator participants or acquire a share in a startup capital, this would be an emphatic success for us. We hope for 5-10 such examples of cooperation between Energomash and accelerator participants,” Ilya Vorobyov added.