Grants, fundraising, investments. ITMO University has the Center for Project Development and Fundraising, where students and staff can apply for funding for various projects, including startups. At the initial stage, startups often work off personal savings or investments made by parents, friends, or acquaintances. Some start without any seed capital at all. On average, startups in Russia need around 500 thousand rubles (approx. $7,000 – Ed.) to launch. The money goes towards producing an MVP, entering the market, and making profits or attracting investments. Investors always want to see an actual product and it’s very difficult to make one without money.