VTB and GenerationS to Launch a Fintech Accelerator


VTB Group is about to launch a corporate fintech accelerator on the basis of GenerationS, the largest startup accelerator in Russia and Eastern Europe. The VTB corporate accelerator is targeted at the search and development of technological projects with solutions that can be implemented within VTB Group companies.

During the XXII St. Petersburg International Economic Forum an agreement for acceleration establishment was signed by the Deputy President and Chairperson of the Management Board of VTB Bank Olga Dergunova and General Director of RVC (Russian Venture Company) Aleksander Povalko.

After signature of this agreement all startups willing to participate in the VTB fintech accelerator can submit their applications. Applications are accepted from the startups which develop solutions for the financial and financial-related sector in the area of big data, artificial brain, biometry, blockchain, Internet of things, digitalization of business processes, etc. Teams from Kazakhstan are also welcome to participate.

Bank experts together with GenerationS will evaluate the applications, select around 40 most promising teams and help them to finish the technological solutions for further integration of those into the business processes of the VTB Group companies. During the acceleration program specialists in the IT, finance, marketing, sales and patent support areas will work with the teams.

In March 2019 VTB will announce the winners – startups which will be selected for the implementation of pilot projects in the Bank. Successful projects will have the right to compete for long-term cooperation with VTB and investment.

Deputy President and Chairperson of the Management Board of VTB Bank Olga Dergunova said: “VTB has already been a partner of the accelerator of GenerationS. Since 2015 the Bank has participated in evaluation of startups together with other corporations. This year we are launching our own fintech accelerator jointly with GenerationS. It is a large joint project which assumes a new level of partnership. It is great opportunity for the Bank to find and complete innovative solutions in the way they could be easily integrated into business processes and client scenarios”.

“Establishment of a VTB corporate accelerator is a strategic step towards the implementation of the state initiative on targeted integration of products of small innovative companies into business processes of large players. RVC is ready to provide expert support for working with the “open innovations” tools so that the corporate partners are offered competitive advantages in the global market”, said General Director of RVC Aleksander Povalko.

To fill out the application for participation in the VTB corporate accelerator, please, visit the website: http://vtb.generation-startup.ru/

Applications are accepted from May 24 to August 31, 2018.