Support The Moscow Times!

Milner Incubator on Hold

Yury Milner, the founder of Mail.ru Group, which listed on the London Stock Exchange in November, decided to steer clear of Russian startups for the time being, a source close to Mail.ru said, RBC Daily reported.

Milner failed to launch his own business incubator in Russia that would support Internet startups. The organization was supposed to make $50,000 investments in a number of promising projects.

"The launch of this initiative is a question of the foreseeable future," Milner's spokesman Leonid Solovyev told RBC Daily.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.