Opening took place in October First Junior Accelerator – a project that for the first time in modern geological exploration Russia unites the interests of junior exploration companies, strategists and financial investors.
The event became an important industry event in the fall and brought together representatives of the state, large companies, foundations and the professional geological community on one platform.
New format for the industry
According to Tamara Golovina, managing partner of the First Junior Accelerator, the program became a response to a systemic market request:
“An accelerator is not about “packaging” a project, but about developing it and increasing its investment attractiveness. We create a platform where a geological idea turns into an investment proposal. For investors it is a quality filter, for juniors it is an opportunity to get capital, for the industry it is a mechanism for replenishing the country’s mineral resource base.”
She noted that the selection included 69 projects from all over Russia, from which experts chose five most promising.
“The selection criteria included an analysis of geological prerequisites and an assessment of the economic feasibility of the project. At the next stage, participants will have a three-month program: expert sessions on geology, economics, legal aspects and management, individual tracking, networking with investors and partners. The program will end in January 2026 Demo day, where companies will present their results and have the opportunity to attract investment,” Golovina said.
“The time has come”: the position of the state
Oleg Kazanov gave a welcoming speech at the opening of the accelerator, supervisor Federal Agency for Subsoil Use (Rosnedra)
In his video message he emphasized:
“We have been talking about the prospects for junior business in Russia for 10–15 years now. The regulatory framework was created, money appeared in the economy, but a gap remained between geologists and investors. The activities of the accelerator should precisely be devoted to the formation of this bridge between two professional communities. You are doing a great and necessary thing for the country.”
View of strategic investors
Roman Shchetinsky (GV Gold) noted that “the very fact of creating such an accelerator is already the most important event for the industry”:
“When I was told that a mechanism for interaction between geological exploration projects and investors, I immediately said – I will participate in every event. This is a long-term story that will give the market new projects and increase the efficiency of interaction between all players.”
Alexander Shpektorov (Nordgold) added:
“Large mining companies are designed for exploitation, not exploration. Juniors are closing this gap. The accelerator will improve the average quality of projects across the country. I believe that the movement will gain momentum – the potential is huge.”
Karina Andreeva (Polymetal) supported:
“We see in the junior not only a source of new ideas, but also our future, the key to the development of the mineral resource base. Since 2018, we have been supporting the junior movement and are confident that completing the program will help teams receive professional support and find their investor.”
View of financial investors
Dmitry Alexandrov (Renaissance Capital) emphasized the importance of the synergy of the three parties:
“The most correct way is partnership. Where a financial investor stands next to the strategist, and the accelerator acts as a filter for everyone. This is a three-way trust model that guarantees quality.”
Alexander Semashko (SPIN Family Office) noted the program’s role in building confidence in the industry:
“The investor is skittish but looking for yield. You need to become that “sesame bun” that stands out on the investor’s table—to show an honest competitive advantage. The accelerator helps juniors speak the same language with capital.”
Alexander Rudik, General Director of Heartland Management Group, summed up the results of the financial block and outlined the next step:
“A financial investor does not buy metal or a deposit, but an investment product based on the ideas/actions of junior teams – this is something that is currently in short supply on the market. Therefore, we have to create this market segment anew – to give juniors access to capital, and investors – a new tool for investing funds. And we believe that projects that go through the accelerator will have the opportunity to attract funding both from funds under our management and from other market investors. And the start of such activity is a historic event for the industry.”
A word to juniors
The program participants themselves noted that the accelerator has become a point of attraction for the professional community.
Mikhail Zatsepin, head of a number of junior projects, general director of Kampoisk LLC
“The first three days of the First Junior Accelerator have passed – and I must say that the first pancake went perfectly. Tamara Aleksandrovna with her experience and connections, the right team of organizers, speakers, mentors and juniors are on the same wavelength.
Artem Karnaukhov, head of a number of junior projects, the Shermen project
“As current juniors and specialists, it was interesting for us to communicate and listen to experienced people. We know that the program is needed in Russia and are grateful to become part of a big story.”
Single loop of interaction
Following the results of the kick-off session, experts noted: the accelerator has created a new ecosystem of interaction, where geologists, strategists and investors operate according to uniform rules and standards.
The program solves a key problem – it turns a geological idea into a transparent investment case understandable to the capital market.
In fact, the accelerator forms unified methodological industry standard: from developing a geological feasibility study and economic model to assessing risks and preparing an investment presentation. Participants don’t just “package” projects, but go through full cycle of development – from geological substantiation and risk assessment to the formation of an economic model, development strategy and investment proposal.
Thus, the accelerator lays rules and standards for creating effective junior companies – not only for presentation to investors, but also for the subsequent implementation of projects. The result of the program is an investment-ready project in which forecast resources, strategy, economics and management model are justified – this is exactly the format needed to attract capital and successfully move along the “ladder of maturity” to the development stage.
Industry effect
The first Junior Accelerator is already being called a mechanism that forms the rules of the game in the market for early exploration projects. It combines government goals to replenish SMEs with the initiative of private capital and the professional experience of geologists. “The junior market in Russia is just emerging. But today it has rules, infrastructure and a leader – the First Junior Accelerator,” summed up Tamara Golovina.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
