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Sberbank spares USD 409,000 for six startups

Friday 10 August 2018 | 01:46 PM CET

The first wave of Sberbank’s Sber#Up in-house accelerator has ended with six startups getting RUB 27.1 million (USD 409,000) worth of investment from the bank.

The startups are SportMe, Personal BigData, StilusBot, PayZakat, GetMeBack and Start-up@Check-up. In the future these will be integrated in Sberbank’s ecosystem.

PayZakat is a payments platform for collecting and distributing compulsory and voluntary contributions that members of the Muslim community give to the poor.

GetMeBack is a platform for constructing digital loyalty programmes. It lets businesses do away with plastic loyalty cards and replace them with mobile applications that have bonus systems, notifications and collection of user feedback.

Start-up@Check-up is an online service for calculating the profitability of businesses using Sberbank’s big data (data about location, activity, type of business, financing method etc).

The Sber#Up in-house accelerator is a programme that offers all Sberbank employees support to create their own IT businesses.

The organisers received 575 applications to participate at the first stage. 12 teams participated in the final. On 7 August they presented their ideas to a jury made up of senior Sberbank executives and private venture investors.

Sberbank invited the Business Incubator of the Higher School of Economics (HSE) to develop the accelerator programme. According to the bank, it is Europe’s third-largest and the world’s seventh-largest business accelerator that works with early-stage startups.

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