Severstal has launched an accelerator to develop metallurgical technology startups as part of a $25m open innovation investment drive.

Russia-based steel, energy and mining group Severstal has partnered accelerator and incubator operator Global Venture Alliance to launch an accelerator dedicated to developing startups in the industrial sector.

Severstal SteelTech Accelerator will target startups developing technology that could be integrated into the company’s production cycle, providing each participant with one-to-training with experts and mentors over a three-month period.

Each of the startups will gain access to resources, laboratories and workplaces at Severstal, as well as product packaging and development facilities.

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