VTB Bank launches pilot projects with start-ups as part of the corporate accelerator organized by the bank based at the premises of RVC GenerationS. VTB Accelerator was launched in May 2018 to search for innovative solutions for their subsequent testing and piloting in the bank. In total, 190 applications from Russia, the CIS and Europe were received for participation in the accelerator. In the framework of face-to-face selection, 32 startups presented their projects to the bank. For further testing and piloting, VTB has chosen 12, with whom work is currently ongoing.
Pilot projects were launched in January with the following accelerator participating companies:
Another five startups are at the stage of developing potential business cases for launching pilots in cooperation with various bank departments.
The acceleration program is designed for three months and includes not only piloting, but also an educational part, in which startups work with mentors and experts, participate in workshops and seminars on business development. Several departments of the bank are actively involved in launching projects, which, together with start-ups, work out and implement business cases. New solutions will be implemented both in internal processes and proposed to the bank’s customers.
GenerationS is a federal platform for developing corporate acceleration tools. It has been held by RVC since 2013. Today, the accelerator infrastructure includes more than 15,000 startups from 30 countries, 400 corporate and ecosystem partners. In 2018, GenerationS became the first Russian accelerator approved by the Global Accelerator Network (GAN) created by Techstars.
About VTB GROUP
VTB Group is one of the largest financial structures of the Russian Federation, which includes more than 20 credit and financial organizations, including VTB Capital, VTB Insurance, VTB Pension Fund, etc. In 2017, the bank adopted a digital transformation strategy aimed at increasing quality and efficiency of business opportunities, ensuring the reliability and adaptability of the IT platform, as well as creating new competitive advantages through the introduction of innovative technologies.