VTB24 became a partner of GenerationS, Federal Startup Accelerator, organized by the fund of funds and RVC OJSC Institute for development. The Bank introduced its own nomination "Your business opportunities" for the contest participants and prepared a special prize for the best project author. The award ceremony will be held in Moscow on November 24.
GenerationS, a federal accelerator for technology start-ups, has been held by RVC since 2013. The best projects selected by experts are working on their product in close cooperation with potential corporate customers and get the opportunity to attract investments. This year, the project is being held in joint cooperation with major Russian corporations. VTB24 became one of the partners.
As part of the third Corporate Venture Summit, which will be held in Moscow on November 24, VTB 24 will participate in the assessment of finalists projects, exhibition and awards ceremony. The main prize of GenerationS will be awarded by Igor Agamirzyan, RVC CEO, together with Nadiya Cherkasova, a member of the Board, Director of Small Business Customer Service Department of VTB24.
VTB24 will select from the GenerationS finalists the best Fintech-project aimed at B2B market. The winner will be awarded a special prize - an exclusive range of banking services from VTB24 and the opportunity to enjoy favourable terms on the business loan, as well as an annual bonus package of "Privilege" financial services.
"The Bank considers it promising to support the entrepreneurs developing technological projects. Participation in such competitions as GenerationS allows us selecting the most interesting projects for the development of services on B2B market and optimisation of own processes for servicing legal entities and entrepreneurs", noticed Nadiya Cherkasova.
"We are happy with the development of our partnership with VTB24. By its proactive approach, openness and willingness to choose individual forms of cooperation with innovative companies, the Bank team destroys the stereotypes usually associated with the publicly owned companies", emphasizes Gulnara Bikkulova, Director of Innovative Markets Department and a member of RVC Board.
The Bank is one of the leaders in the credit market and SME services, and it focuses on innovation and remote services. In 2015, GenerationS became a partner of "A billion niche" contest, which is held by VTB24 for entrepreneurs developing projects in promising areas. The contest purpose is to select the most brilliant business project, which has a great potential for growth. The selection is made in five priority segments: healthy lifestyle, travel and tourism in Russia, educational programs and centers for children, mobile applications for business, food production. The voting for the semi-finalists have already started, and the name of the winner will be announced in December.
GenerationS-2015 operates in seven acceleration tracks: modern power generation technologies (Power&Energy), new technologies in the oil and gas sector (Oil&Gas), Smart City and technology for life (SmartCity), automation and robotics (Robotics), technology in telecommunications (Telecom Idea), technology for the aerospace industry (Aerospace), medicine and biotechnology (BiotechMed).
In 2015, RVC re-structured GenerationS into a line of industrial corporate accelerators in order to help large companies to establish cooperation with small businesses. GenerationS is implemented in close cooperation with the following corporations: RusHydro Group, KES Holding, MOESK JSC, Fund Energy without borders, MTS PJSC, Sberbank-Technology CJSC, Saturn RPE, Korolev Rocket and Space Corporation Energia, MORTON GC, Russian Technical Society RPO, Tatneftekhiminvest Holding OJSC, Johnson & Johnson, Pharmcontract GC, Sibbiopharm PA. The corporations are directly involved in project selection and assessment, as well as in acceleration of startups participating in GenerationS, based on their needs in innovation. With the expert support by RVC and other market participants, the corporations implement pilot projects on working with technology startups for implementation of innovative development programs, building a flexible innovation policy, business development, development of new products, and entering new markets.
This year, more than a hundred public organizations and commercial companies became GenerationS project's partners, including: Foundation for Assistance to Development of Small Research and Technology Enterprises, Russian Ministry of Economic Development, Russian Ministry of Agriculture, Agency for Strategic Initiatives, Russian Ministry of Communications and Mass Media, Association of Innovative Regions of Russia, Rosmolodezh, Innovation Center of the Russian Olympic Committee, VTB24, MasterCard, Alpha Bank, Kamaflow, SAP, Cisco, IBM, Samsung, Microsoft, FinPRO, EFKO SC and many others.
GenerationS is a federal accelerator for technology start-ups, in which the best projects are selected by the results of a multi-stage examination to receive intensive development and opportunities for investment. GenerationS has been held by RVC since 2013 with the support of Russian corporations, development institutions, and representatives of venture infrastructure. Since 2015, GenerationS resources have been utilised for creation of corporate and industry accelerators in close cooperation with large Russian corporations. The corporations are directly involved in project selection and assessment, as well as in acceleration of startups participating in GenerationS, based on their needs in innovation. GenerationS-2015 is held in seven branch lines (tracks): Power&Energy, Telecom Idea, Robotics, Aerospace, SmartCity, Oil&Gas, BiotechMed. All the participants of corporate accelerators will be given the opportunity to receive a grant of 1 mln rubles from the Foundation for Assistance to Development of Small Research and Technology Enterprises. Three winners of GenerationS will share the prize fund of RVC and partners. The minimum size of the prize fund is 5 mln rubles.