Russian Startup Industry: State and Prospects

The startup industry is the creative engine of any national economy. However, startup projects differ significant risk and difficulties in real promotion. The purpose of the study is to review the current state of the startup industry in the Russian Federation and identify prospects for its effective development. The authors used the following methodology: monographic method and analysis (including statistical), graphical method, hypothesis. The following areas are especially popular among Russian startup projects: IT technologies, medicine, telecommunications, e-commerce, etc. Startup financing is characterized by specific methods, including: investments of business angels, incubators/accelerators, venture capital, crowdfunding . One of the large-scale financial resources for startups is considered to be an initial public offering of shares (IPO). In 2023, the leaders in IPO for startup promotion were: CarMoney , Astra, Genetico . A negative trend in the Russian startup industry is a decrease in venture financing. In addition, in 2018-2023. there is a decrease in the total investment volumes at all stages of startups , with the exception of the Seed round. The largest deals on the Russian startup project market in 2023 were in the range from 2 to 40 million dollars. At the same time, the objects of these deals on the startup project market were 10 companies from various sectors of the economy: Xpanceo , KEK Entertainme , Health.ru , etc. For the successful development of the startup industry in the Russian Federation, the authors adapted the business model canvas ( Business Model Canvas ). In it, the authors arranged traditional blocks in a more logical sequence, added the "Financing" block, deciphering alternative options for financing methods depending on the type of startups , and designated the "Net Profit" block. At the same time, at the stage of searching for investors for startups, special attention should be paid to pitching and the quality of financial models. The authors formulated recommendations for creating an effective pitching . The scientific novelty of the study is due to the use of the author's approach in developing Business Model Canvas and express pitching for startup projects , which can be useful for Russian and foreign economists planning innovative activity .