THE FIRST DEDICATED ACCELERATOR
THAT UNCOVERS THE POTENTIAL
OF ARTTECH STARTUPS
THE FIRST DEDICATED ACCELERATOR
THAT UNCOVERS THE POTENTIAL
OF ARTTECH STARTUPS
Fuelnews
Download Deloitte Art & Finance Global Report 2019 containing an ArtTech report by Roxanna Zarnegar and Denis Belkevich (pages 177-179)
What is
Accelerator

Accelerator is an entity that helps startups to accelerate growth, acquire entrepreneurial competences as quickly as possible, acquire seed funding, and provide a greater overall chance of surviving – all that through a highly structured and competitive mentoring programme.

By attracting mentors that have particular niche or industry knowledge and offering an adjusted support package, specialized accelerators can provide even greater value for startups.
ArtTech
Startups

- Supply-oriented, not Demand-oriented

- Lack of the art market needs knowledge

- Don't have a specialized ArtTech accelerator

- Don't have access to the investors community

- Don't have access to the collectors community, as an alternative source of investment
VC
Investors

- Finding alternative assets portfolios with low volatility

- Looking for sustainability during economic recession period

- Don't trust startups without acceleration

- Experience lack of trust towards ArtTech startups which have passed general acceleration

- Lack of experience in navigating the art world ecosystem
What is
Fuelarts

- The first dedicated ArtTech growth accelerator

- Based in the center of the art market — NYC

- Several levels of immersion / mentorship programs

- Relationship based private investor services & community

- Management, experienced in finance, development, supply chain and education in the art world
The Mission of Fuelarts
● To connect all ArtTech startup ecosystem stakeholders through different mentoring and support activities
To uncover the potential of ArtTech to the art market, making it more trusted and reliable for VC investors
To empower the unsung heroes among the ArtTech startups with tools and support networks to make the art market more efficient, transparent, and accessible
The Programs
Starting from 2020 Fuelarts will introduce 3 programs for ArtTech startups of different levels. The application process, as well as mentors' list disclosure, is postponed due to COVID-19 and will be announced later in 2020
Pre-Acceleration
(2020)
Duration: 4 week programme
Type: online course
Applicants: 10 per batch
Startup stage: from idea to prototype
Key subjects: forming an idea, bases of prototyping, customer discovery, forming the team, fundraising bases
Goal: preparation for initial funding
Investment: no investment opportunities
Terms & Conditions: to be announced
Acceleration
(2020)
Duration: 8 week programme
Type: NYC-based facility
Applicants: 5 per batch
Startup stage: from prototype to MVP
Key subjects: idea validation, finding early evangelists, building the product, expanding the team, seed investment
Goal: preparation for seed investment
Investment: from $100,000 to $250,000
Terms & Conditions: to be announced
Later Stage
(2021)
Duration: 16 week programme
Type: NYC-based facility
Applicants: 5 per batch
Startup stage: from MVP to to actual product
Key subjects: building a company around the product, professionalizing business functions, international expansion
Goal: preparation for Round A
Investment: from $1,000,000
Terms & Conditions: to be announced
2020 Enquiries
In 2020, Fuelarts will accept enquiries from the startups based on the four sections of the art market:
Transparency
Education, Artists, Provenance, Collectors
Transitions
Staffing, Shipping, Storage, Inventory Mgt
Traction
Auction, Art Fair Sales, Forecasting, Provenance
Transactions
Lending, Contracts, Payments, Pricing, Investments
Be the first to know when we start!
We can put you on the newsletter list and you'll be notified as soon as Fuelarts announces the first submission season
Why Do Startups Need an Accelerator?
Startups that graduated from accelerator programs have approximately 23% higher survival rate than stand alone startups
3%
97% of all startups fail
25%
Accelerators generally enhance the survival of startups by 25%
The Art Market Capacity
The ArtTech startup world until recently experienced serious mistrust from investors. It seemed to them that the $68 billion market was not large enough for new investments. We are pleased to tell you the great news: the market for ArtTech startups is much wider, just look at it from a new perspective. And now it is 3 trillion.
PAM
$3 trillion

The $3 trillion market consists of the artworks that are constantly stored, moved and professionally managed

TAM
$68 billion

The annual turnover consists of the public (auction houses), private (gallery and dealer sales) and online art market trade. The share of online sales in 2018 has reached $6 billion (up 11% from the year before)

SAM
$20,2 billion

In 2018, there were 310,700 businesses operating in the global art and market, employing close to 3 million people. In total they spent above $20 billion on supporting art services — logistics, marketing, research and analytics

SOM
$2,64 billion

In 2018 online trade provided galleries with 29% of sales. 93% of millennial HNW collectors reported that they were buying
from online platforms. That's why art companies increase their Internet presence and spend on IT

Leadership
Denis Belkevich
Founder & CEO
An economist in the field of art, professional manager of cultural projects, art investment & collection management consultant. Denis graduated from Kiev State University of Theatre, Cinema and Television (art management), Russian State University of Cinematography (movie producer), Sotheby's Institute of Art (art finance). Post-grad education received at Modern Art Research Institute of the National Academy of Arts of Ukraine (art funds management). He held the position of Managing Director of the Contemporary Asian Art Fair at GAAB (Warsaw) and Project Manager of the Peter Konchalovsky Foundation (Moscow). Currently contributes as the International Development advisor to Cube.Moscow, a non-commercial platform under the patronage of Dr Uli Sigg (Switzerland). Permanent participant of international conferences and forums on the marketing, economy and tech in the field of art. Author of educational programs and Mass Media publications on museum marketing, art banking, ArtTech, career management of artists and asset management. As a Director of Programme has held several international art conferences, like Art & Reality (2010-2012, St.Petersburg and Moscow), GAAB Collectors Summit (2017, Warsaw), Cube.Collectors Summit (2019, Moscow). Founder of the art financial blog ARTFINEX. Member of the Board of the International Association of Asian Art Collectors. In 2017, he acted as a co-founder of the Artherium startup, a collection management system on the blockchain.
Mentorship
Denis Belkevich
Founder & CEO, Fuelarts
Strategic Development / Business Strategy / Chief Mentorship
An economist in the field of art, professional manager of cultural projects, art investment & collection management consultant. Denis graduated from Kiev State University of Theatre, Cinema and Television (art management), Russian State University of Cinematography (movie producer), Sotheby's Institute of Art (art finance). Post-grad education received at Modern Art Research Institute of the National Academy of Arts of Ukraine (art funds management). He held the position of Managing Director of the Contemporary Asian Art Fair at GAAB (Warsaw) and Project Manager of the Peter Konchalovsky Foundation (Moscow). Currently contributes as the International Development advisor to Cube.Moscow, a non-commercial platform under the patronage of Dr Uli Sigg (Switzerland). Permanent participant of international conferences and forums on the marketing, economy and tech in the field of art. Author of educational programs and Mass Media publications on museum marketing, art banking, ArtTech, career management of artists and asset management. As a Director of Programme has held several international art conferences, like Art & Reality (2010-2012, St.Petersburg and Moscow), GAAB Collectors Summit (2017, Warsaw), Cube.Collectors Summit (2019, Moscow). Founder of the art financial blog ARTFINEX. Member of the Board of the International Association of Asian Art Collectors. In 2017, he acted as a co-founder of the Artherium startup, a collection management system on the blockchain.
Roxanna Zarnegar
Director of Operations, Training and Development at Arcis Fine Art Storage and Collection Management
Art Market Advisory / Leadership Program / Education & Research
Roxanna served as Chief Operating Officer of Christie's Americas, where designed a multi-use fine art storage + production facility and led auctions operations teams across seven departments. She developed several strategy plans and was a key member of the launch of Christie's online auctions. During her term, Roxanna attended the INSEAD Executive Leadership Program, becoming one of the leaders of Christie's global strategy. Subsequently, Roxanna served as Senior Vice President of Auctions and Private Sales at artnet. Her responsibilities included a strategic redesign of the auction and private sales division and online platform–a project that was awarded a Webby Award Honoree. Prior to joining the art world, Roxanna held roles leading turnkey event and supply chain logistics for international fairs, exhibitions and the Olympic Games. Recently, Ms. Zarnegar has been advising private equity firms on auction marketplaces and art market startups. She regularly speaks and moderates' panels at art fairs and conferences. Roxanna specializes in strategic management with a concentration in supply chain innovation for the art world. In addition, Roxanna is adjunct faculty at Parsons, The New School MS of Strategic Design + Management and Sotheby's Institute of Art Master's in Art Business. In April 2019, Ms. Zarnegar accepted the role of Director of Operations, Training and Development at Arcis Fine Art Storage and Collection Management. Arcis, a 110,000 sq.ft facility housing the world's fine art and cultural property, is a multi-designated, highly secure storage, customs and foreign trade zone facility. The building is uniquely designed with advanced engineering and power systems, within Manhattan.
The full mentors' list will be announced by the end of 2019
Want to know more about our program?
Please feel free to contact us
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