QIWI has become a partner of the GenerationS start-up-accelerator

QIWI venture fund supported the Finance&Banking Technologies track that will combine projects in financial technologies, services and e-commerce. The track starts in 2016 for the first time with the support of the Russian mega-regulator — the Bank of Russia. The track will combine projects in the area of financial technologies, services and e-commerce. Within the framework of the track, the start-ups will present their developments to the leading experts and, in case of successful passing through the acceleration program, get the necessary competences, investments, grants and subsidies to scale the business.

«During the past several years, QIWI worked according to the open innovation model. Our corporate venture fund QIWI Venture not only provides financial support to the projects, but also launches joint products under the profit split model, Olga Turzhanskaya director of QIWI Venture fund says. — Partnership with GenerationS gives us an excellent opportunity to apply the accumulated expertise for development of new FinTech products in cooperation with the strong teams. We expect to launch pilot projects with at least half of the teams participating in GenerationS accelerator and test some business ideas. We also expect that QIWI, based on the results of the GenerationS acceleration program, will be able to launch several joint products in cooperation with FinTech track team, and, at least, 2 projects will be included in the portfolio of QIWI Ventures corporate fund."

QIWI Venture interests cover the wide range of FinTech directions, including credit and deposit services with a new business model for this market, p2p solutions (crowdfunding, crowdinvesting), PFM services and financial assistants, financial marketplaces, money transfer services, technology solutions based on blockchain in financial services (arbitration, issuance of digital assets), solutions in the field of identification and digital identity as well as international acquiring. The fund experts consider, with equal interest, both Russian and foreign projects with the possibility to localize business models on the Russian market.

GenerationS-2016 was officially launched in July 2016 and is to be held in eight corporate tracks: Mining&Metals, AgroBioTech&Food, SmartCity, Сreative Industries, LifeScience, TechNet, Power&Еnergy, Finance&Banking Technologies.

Besides QIWI, Moscow Stock Exchange, Morton PC and Russian Technical Society PC, Severnyi Biopharmaseutical cluster, Krastsvetmet JSC, EFCO PC, Sher Oston, Irkutsk Power Supply Company JSC, "Saturn" NPO" OJSC became industrial partners of GenerationS.

Other GenerationS-2016 partners include: Open University Skolkovo (OtUs), GC AMEDIA, ALROSA, Rostelecom PJSC

Applications from the technology entrepreneurs are accepted on the GenerationS official website till September 15. To become a participant of the accelerator, please complete the registration form on: http://en.generation-startup.ru/register/. GenerationS superfinal will be held in March 2017. The winners will share the prize fund of 15,000,000 roubles and also receive prizes from the accelerator partners, Besides, they will be offered the opportunity to continue cooperating with corporate partners or get funding towards developing and refining the final product.

About QIWI:

QIWI is the leading payment service of new generation in Russia and CIS countries, owning the integrated payment network that allows a user to make payments via physical, internet and mobile communication channels. It includes more than 16.1 million of virtual wallets and more than 167 000 of payment terminals and kiosks. Commercial companies, with the help of QIWI, accept payments (in cash and cyber money) in the amount of 66 billion roubles from more than 62 million customers who use the services not less than once a month. QIWI customers can use cash, prepaid cards and other way of non-cash transactions to order and pay for the goods and services using the physical and electronic payment tools in rotation.