Raiffeisenbank and the GenerationS start-up accelerator become partners

Raiffeisenbank has become a partner of the federal start-up accelerator GenerationS, which is held by RVC annually in association with major Russian corporations. The Bank has established a special nomination Award for start-ups participating in GenerationS, developing products and solutions for the financial industry.

Within their partnership with GenerationS, Raiffeisenbank will search for promising projects with the developments in the field of financial services and close to financial services, personal finance management systems, big data and analytics, financial advisors, and on-demand services. All teams with a finished product or prototype may become a member of the nomination.

Applicants will be selected from among the projects that applied for GenerationS. To become a member of Raiffeisen Award, the teams shall register on the nomination page of the accelerator's website. The nomination short-list will include 10 projects that will be evaluated during the expert sessions by the Raiffeisen Innovation Board for promising business ideas and opportunities for their integration into the existing IT-infrastructure of Raiffeisenbank.

The nomination winner will be selected in spring 2017 as part of the GenerationS finals. The best project will receive a financial bonus in the amount of 1 million rubles. and will continue its mutual work together with Raiffeisenbank: to test the hypothesis and make a prototype of the product, to offer the finished product to the customers of the bank and obtain a recommendation to the headquarters of the bank in Austria.

"We are continuously looking for new opportunities to improve the quality of our service and see the prospects in the development of not only the financial component of the banking product, says Oleg Tretyak, the head of IT architecture at Raiffeisenbank. — Participation in GenerationS is a great opportunity to find new technologies that complement the product and are able to interest and attract a new customer."

GenerationS is the largest in Russia and Eastern Europe accelerator technology start-up offered by RVC, during which the best projects get the opportunity to modify its product in close cooperation with potential corporate customers and to attract investments for development. GenerationS is also the first platform in Russia for the development of enterprise acceleration tools.

"Thanks to the GenerationS accelerator partners, which include Raiffeisen Bank, finteh start-ups obtain a real opportunity to launch joint products with leading companies of the markets and can enlarge their business, noted Gulnara Bikkulova, Deputy General Director — the Director for RVC Development and the GenerationS ideologist. — We expect a high interest in the accelerator from the core developers, and we hope that breakthrough products and solutions will become the result of our cooperation that will change the usual financial services consumer formats".

GenerationS was officially launched in July 2016 in eight corporate tracks: Mining&Metals, AgroBioTech&Food, SmartCity, Сreative Industries, LifeScience, TechNet, Power&Еnergy, Finance&Banking Technologies. Among the partners of GenerationS are the largest Russian companies, leaders in their field: Moscow Exchange, GC Morton and Russian Technical Company, QIWI, Northern Biopharmaceutical Cluster, Krastsvetmet JSC, ALROSA, GC EFKO, Sher Oston, Irkutsk Electric Grid Company JSC, R&D Saturn PJSC.

Acceptance of applications from technology entrepreneurs is open on the GenerationS official website. To become a member of an accelerator, it is necessary to complete the registration process, following the link: http://generation-startup.ru/register/. GenerationS Superfinal will be held in March 2017. The winners will share the prize money of 15 million rubles and the prizes from partners and will have the opportunity to continue their work with industry partners and to attract investments for the development and refinement of the product.