May 22, 2024

Sber starts receiving entries for the fifth batch of the international tech startup accelerator Sber500

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Sber starts receiving entries for the fifth batch of the international tech startup accelerator Sber500
Sber starts receiving entries for the fifth batch of the international tech startup accelerator Sber500

Sber launches a new batch of Sber500, an international seed accelerator for technology entrepreneurs. All stages of the program will be supervised by foreign mentors and experts with experience and networking around the world. An additional advantage for participants will be that, in addition to Sber, more than 40 Russian partner corporations and investors will work with the selected finalists. Registration will be open until May 25, 2024.

Startups from all over the world can apply. The main criterion is that projects must already have a minimum viable product, or MVP, a staffed team, and first sales. The exception is deeptech startups with an in-depth scientific basis: they may not have any sales. Projects that are powered by AI technology will receive additional mentoring support and priority in the selection process.

This 12-week program will start with an online boot camp for the 100+ qualified startups. International experts will evaluate their businesses, give recommendations on how to boost them, share insights about successful development and positioning of similar projects on markets outside Russia. Twenty-five finalists will then be picked to join the seed accelerator’s main program. In the fall of 2024, a Demo Day will be held, where startups may raise investment. Moving forward, winners may pilot their solutions at Sber and across partner corporations.

Alexander Vedyakhin, first deputy chairman of the Executive Board, Sberbank:

“The mission of our seed accelerator, Sber500, is to identify at early stages the solutions with the potential to lead their industries, as well as to offer them expertise and spotlight them for the entire innovation market. Both Sber and the entire country are interested in having more companies like that. In the last four years, Sber500 graduates have raised over USD 40 mn in investments and signed more than 7,000 commercial contracts.”

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