Sber and 500 Startups are launching the third batch of Sber500, its international IT startup accelerator.
The program leverages the capabilities of Sber, Russia’s largest bank, as well as 500 Startups, a global venture capital firm.
The closing date for entries is January 10, 2021.
The third batch of the accelerator differs from all the previous ones in several aspects.
First, the geography is wider with entries to be sent by startups from Russia, Israel, Belarus, Kazakhstan, Latvia, Lithuania, and Estonia.
Second, 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.
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.
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.