IIDF is going to select the startups for the accelerator and Sberbank will provide these ventures with expertise and funding for pilot projects, dealstreetasia.com reports. Capital for funding these startup ventures will be sourced from Sberbank itself and its venture arm SBT Venture Capital.
Sberbank will explore cybersecurity and Big Data opportunities after the launch of a Big Data fund by IIDF in November 2015. Russia is among the five countries most likely to benefit from incorporating Big Data into governmental processes.
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