The third wave of Sber500 starts to receive applications
Tashkent, Uzbekistan (UzDaily.com) -- Sber and 500 Startups are launching the third batch of the international accelerator of IT startups. It is a program for technology entrepreneurs based on the capabilities of Sberbank, the country’s largest ecosystem, as well as the expertise and experience of 500 Startups, one of the strongest teams in the world of venture and IT business. Applications for participation can be submitted until 10 January 2021.
The third wave of Accelerator is significantly different from all previous ones and is becoming more powerful as a response to the existing challenges and conditions in which startups find themselves in 2020.
First, the geography is expanding significantly: this year startups can apply for participation not only from Russia, but also from Israel, Belarus, Kazakhstan, Latvia, Lithuania and Estonia.
Secondly, 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 build communication with different target segments, and learn to stimulate a client to purchase. The second stage - the main Accelerator - will include the 25 strongest bootcamp 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 - up-to-date information can be seen on the program website https://www.sberbank-500.ru
During the two previous batches, the participants attracted over 400 million rubles of investments from third-party investors and 190 million rubles from Sberbank, entered into partnerships with ecosystem companies and partner corporations. In the third wave, the best startups will be able to qualify 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 Management Board of Sberbank:
“All great and successful companies were once immature newcomers with big dreams and were looking for partners in the market who would believe in them. The Sber500 project is our support shoulder 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 with us in this project and supporting startups at such a difficult time for them.
This year we are waiting for 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 between startups and help promote the strongest and coolest ideas and solutions on the market. "
Startups that already have a legal entity, first sales and MVP (working version of the product) in the following industries are invited to participate in the program: Marketing & Advertising Solutions, Process Automatization Solutions, Mapping & Geolocation, EduTech & HR Tech, MedTech, SportTech, Data Analytics Solutions, Smart Home Solutions and others.
Training at the Accelerator will end with a Demo Day, where startups will present their projects to 500+ investors, business angels and representatives of the largest innovative corporations.
500 Startups is a venture capital firm whose mission is to seek and support the world’s most talented entrepreneurs, help them build 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 have invested in over 5,000 entrepreneurs from 75+ countries. In 2019, 500 Startups was named the number one investor in the world for the number of venture capital deals.