Sber500 Accepting Third Batch Entries
- IT Innovations
- 08.12.2020 07:54 am
Sber and 500 Startups are launching the third batch of the international IT startup accelerator. It’s a tech entrepreneur program relying on the capabilities of Sber, Russia’s largest ecosystem, as well as the expertise and experience of 500 Startups, one of the strongest teams in the venture and IT business world. The closing date for entries is January 10, 2021.
The third batch of the accelerator differs from all the previous ones dramatically and is becoming more powerful as a response to the current challenges and conditions that startups have faced in 2020. First, the geography is much wider: this year, entries can be sent by startups from beyond Russia — Israel, Belarus, Kazakhstan, Latvia, Lithuania, and Estonia. Second, the approach to teaching and its coverage is changing: now the program will consist of two stages. The first stage is two-week online bootcamps for the Top 500 startups from seven countries. During bootcamps, teams will work out a value proposition, learn how and when to establish communication with different target segments, and learn to push customers to make purchases. The second is the main accelerator stage, which will welcome the 25 strongest bootcamp-tested startups. All stages of the acceleration program, as before, will be supervised by mentors from Silicon Valley and international experts. Finally, this year the number of partners has increased. You can find all updates on the program website.
During the first two batches, the participants attracted over RUB400 mn in investment from third-party investors and RUB190 mn from Sber, entered into partnerships with ecosystem companies and partner corporations. The best third batch startups will compete for investments from the Fort Ross Seed Fund, 10+ partner funds, and an individual approach on market conditions.
Lev Khasis, First Deputy Chairman of the Executive Board, Sberbank: “All great and successful companies were once immature beginners with huge dreams and were looking for market partners who would believe in them. The Sber500 project is our helping hand for talented startups, a springboard for disruptive business models, products, and services. We would like to thank dozens of the largest Russian and international corporations that are participating in this project with us and supporting startups in their dark hour. This year we’re welcoming to the accelerator not only Russian but also foreign technologically advanced teams who dream of changing the world for the better. Expanding the geography of the project will increase competition among startups and help promote the strongest and coolest ideas and solutions in the market.”
The program invites startups that are already registered as a company, have their first sales, and a minimum viable product (MVP) in the following industries: Marketing & Advertising Solutions, Process Automation Solutions, Mapping & Geolocation, EduTech & HR Tech, MedTech, SportTech, Data Analytics Solutions, Smart Home Solutions, etc.
Accelerator training will end with a demo day where startups will present their projects to 500+ investors, business angels, and the largest innovative corporations.
You can catch up on the news about innovations and venture activity of the Sber ecosystem in the Telegram channel https://t.me/sberstartup.
500 Startups is a venture fund with the mission to find and support the world’s most talented entrepreneurs, help them create successful scalable companies, and build thriving global ecosystems. It is one of the most active venture capital firms in the world. Since its inception in Silicon Valley, 500 Startups has invested in over 5,000 entrepreneurs from 75+ countries. In 2019, 500 Startups was named the number one investor in the world by the number of venture capital deals.