The VTB accelerator, organized with the support of the Internet Initiatives Development Fund (IIDF), has been operating according to this principle for the third year already. We help start-ups launch whose products are of interest to us from the outset, for example, they can increase profits or optimize costs. How to get to our accelerator and what can come of it, we tell under the cut.
The main task of our accelerator is to test the solutions of the selected startups as soon as possible. Therefore, we expect from the participants a product ready for the piloting stage, as well as the availability of a team and resources to work with the bank. To speed up testing, we have developed a fast track - the absence of lengthy approvals and complex corporate procedures allows a pilot to be implemented in the shortest possible time. If the pilot confirms that the solution is effective, technologically mature, that it can be built into the banking infrastructure and scaled up, the startup will be able to conclude a long-term cooperation agreement with the bank.
However, in any case, startups will not go to waste: a pilot project is paid for, participants receive from 500 thousand rubles, a deeper understanding of the technological needs of the banking industry and invaluable expertise for further product development. In addition, the media promotion and participation in events that are standard for our participants work on the image of the start-up company: other potential customers learn about the new technology and its creators, so alternatives are almost always possible for a startup.
In addition, our partner IIDF has decent experience in the development of technology startups - over 470 investment transactions at various stages with IT companies, a large contact base and a well-proven acceleration program. Accelerator members receive expert advice, access to a potential customer base, assistance in debugging organizational and business processes, and much more. As a result, a startup understands what to do and in which direction to move in order to get customers.
Since 2018, we have launched 32 pilot projects, 20 of which have been successfully completed. At least 10 solutions are at various stages of commercialization. It turns out that the “survival rate” of startups participating in our accelerator is about 4 times higher than the average 8%. And this is quite understandable: to begin with, a startup presents its solution to a large number of bank departments, which means that it has a high chance of finding the right customer. VTB is the largest bank with 1.6 thousand retail branches in the Russian Federation, so after a successful pilot, a startup has every opportunity to enter the federal level.
How it was
In 2019, 581 applications were submitted to participate in the accelerator. The selection criteria were met by 301 startups, of which we selected 12 most promising: services for retail clients and small businesses, b2c marketing tools, solutions for contact centers, technologies for assessing potential borrowers, data collection and analysis tools and other solutions:
- Andata : client's digital passport is a technology for identifying a potential client on a website.
- HintEd is a constructor for creating interactive tips for users of corporate systems.
- SweetCard.Stories - Personal Stories platform in mobile banking using Machine Learning.
- MobileScoring — , -.
- OpenTRM — .
- KVINT — .
- Neurodata Lab — Customer Experience Management .
- Botman.one — , - .
- HighTouch Lab — .
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- Cybertonica Platform is a platform for transactional fraud monitoring and adaptive user authentication.
- WeHire - Evaluating candidates using game testing and emotional AI.
Accelerator through the eyes of participants
We asked the direct participants in the events to tell us more about how everything works.
Artem Taganov, CEO of HintEd:
- Our interest in the accelerator can be described in three points:
- attracted by the idea of quickly launching piloting technology;
- we understood that cooperation with VTB would help in development;
- I wanted to work out the technology on new systems and platforms.
A few days after we submitted an application on the accelerator's website, a representative of the IIDF contacted us. We talked on Skype, told us what we are, what we have got. After that, an expert session was held with various departments of VTB. Such a 3-hour speed-dating: several dozen tables with a representative of a separate bank division at each of them. We talked about what we can offer, and the bank representatives decided if they needed this technology. The next stage is Demo Day. It was a 3-minute pitch, we told the bank's top management about our project. Well, the final stage is selection for the accelerator.
— , , — . , . , .Our technology, which helps to learn quickly and without interruption from work, has been tested by the corporate division of the bank, the department of small and medium-sized businesses, and the retail division. The testing went well, we plan to make HintEd a common banking system.
I was impressed by the involvement of the bank representatives: they organized the processes, prepared documentation, established communications, answered all our questions. Of course, you need to understand that VTB is a large bank with the most complicated business processes, the technology cannot be implemented in a couple of weeks or months.
Vasily Kuznetsov, CEO of SweetCard:
- We have already participated in various accelerators and understood that they allow us to launch joint projects with big business faster. And we already worked with IIDF - we liked it, we decided to repeat the experience.
In my opinion, speed-dating became the decisive stage - it was there that it was decided who to skip next, to perform in front of the jury. I would like to note the support of IIDF: representatives of the fund not only helped the participants prepare their speeches, but also helped to ensure that all presentations were heard.
We came to the accelerator with a platform for embedding personal Stories feeds into the bank's mobile application, which can be customized taking into account the interests and expenses of a particular client. As a result, we launched with VTB a project of personal animated results of 2019.Clients received a detailed personal report on spending in various categories and foreign trips. Sometimes such a report comes as a big surprise for a person who does not have much control over their spending. This is a real concern for customers: the bank is getting closer to its users. Our main customer was the bank's CRM division. The plans are to introduce the full functionality of the platform in the bank.
It was a good example of interaction. Despite the tight schedule for preparing for the accelerator and the need to constantly coordinate something with other services, everything was organized at a high level. They can when they want!
Accelerator 2020: don't miss the third set
Despite the pandemic and the difficulties associated with it, we are opening the third set of technology companies to the corporate accelerator VTB and IIDF. Applications are accepted until August 24 inclusive. We need:
- Marketing tools
- Services for working with clients
- Services for b2c clients
- Services for b2b clients
- HR solutions
- Services for employees
- Solutions for collecting and analyzing customer data
- Cybersecurity solutions
It may well be that we are waiting for your product. The main thing is to meet the conditions:
- A clear value proposition
- Product ready for testing
- Willingness to modify the product according to our requirements
- Legal entity or individual entrepreneur in Russia or abroad
Accelerator stages:
- Until 24.08 - accepting applications.
- From 25.08 to 18.09 - correspondence selection of projects by experts from VTB and IIDF.
- Until 01.10 - qualifying intensive.
- From 05.10 - preparation for piloting and pilot implementation.
A complete list of directions, details about the conditions and stages of the accelerator - on the official website .