How We Earned the Trust of One of the Largest
Venture Capital Funds in the World, IIDF
(https://iidf.vc/), and Helped to Monitor 400 Portfolio
Companies and Skip Over 1000 Startups During the
Selection Stage.
The Internet Initiatives Development Fund (IIDF) is the largest venture capital fund in Eastern Europe and one of the top 10 venture capital funds in the world. More than 400 portfolio companies and more than 1000 startups pass the expert evaluation of the IIDF each year.
Object of work: a platform
for financial and expert
support for business
projects at an early stage.
The principle of work is the acceptance of applications from startups for a primary free audit and a paid course of support and development of projects.
Objectives: The support and development of the platform, and the quality and safe management of portfolio companies.
We were successful in:

- Increasing the flow of applications
- Speeding up the system and reducing service response time
- Reducing the cost of monitoring and developing the portfolio by 30%
- Improving communication between customers and experts

Solution:
Before the cooperation with 2UP, IIDF had used its own system for processing applications and supporting clients for three years. Therefore, we began with an audit of the existing system. We gathered a working group and invited their senior JS developers, senior backend developer, account manager and QA - a team of more than 10 experts.

During the initial audit, the entire code was divided into logical blocks. We
identified the blocks with the largest amount of problems and proposed a
plan detailing what modules we would redo, in what sequence we would fix
them and an explanation as to why each one should be redone.

While we were changing each block, we were also replacing some outdated solutions with new and improved alternatives. During this process some serious security problems appeared (outdated modules) which were quickly eliminated. The server approach was completely reconfigured, which reduced the load on the server and significantly increased the response time.
New Level of Automation
With technical support systems we decided to go further. We connected our technical specialist to the internal CMS-system of IIDF.
Previously, online traction of projects (one of the IIDF products for remote diagnostics of projects) was carried out via Skype. We decided to drop this idea and created a very large, complex module from scratch. And now all
customer support is carried out directly in the internal system of IIDF. That allows you to fully control the selection process and the work of external experts.

Completing a support questionnaire from startup owners has become much easier. Adaptive questionnaires, which can be supplemented with desirable "steps", were implemented instead of bulky standard templates.
The work of project teams was greatly simplified by the introduction of useful bots.

Our special pride is the creation of the "IIDF Knowledge Base for IT- entrepreneurs". This database is a huge library of useful content of IIDF, which was created in 2013 with the help of the founders of IT start-ups and
market experts. The knowledge base is used by more than 3,000 business founders in Eastern Europe.
One of the key tasks we also faced was to ensure control over the financial activities of portfolio teams. Interaction with 400 portfolio teams requires a high level of automation and security.

Our team successfully coped with this: in 3 years of working with us there has not been a single case of data leakage and external audits showed a high level of service security. All of our efforts have allowed us to increase the stability of the system; now it works with an uptime of 99.8%.