20 July 2017
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Innotribe selects ten firms for Russian startup challenge

06 July 2017  |  5175 views  |  0 Source: Innotribe

Working in close collaboration with Innotribe, over one hundred judges from across the financial, technology, and investment communities evaluated over 40 applications received for the first edition of the Startup Challenge for Russia.

The judges assessed the companies on their potential to provide an important innovation to the future of the financial industry, and ultimately narrowed the selection process to this year’s 10 participating startups:

These successful companies all focus on providing innovative solutions for the financial industry in Russia. They will pitch their products on 14 July 2017, during the International Financial Congress (IFC). Hosted by the Bank of Russia, our general partner, the IFC is Russia's largest international financial forum and will take place from 12-14 July 2017 in St. Petersburg.

Olga Skorobogatova, Deputy Governor, The Bank of Russia, says: “Innotribe Russian finalists presents original, prospective and ready-to-use products, which proves that Russian Fintech industry has overgrown the stage of following trends and ideas from developed markets and is ready for global FinTech competition.”

Innotribe is also pleased to partner with the ROSSWIFT (Russian National SWIFT Member and User Group) to organise the Startup Challenge in Russia this year. Our special thanks go to the following members who comprised the Rosswift Innotribe Task Force: the Bank of Russia, the National Settlement Depository, Sberbank, and Alfa-Bank.

The Innotribe Startup Challenge for Russia is sponsored by Hewlett Packard Enterprise, and supported by the following institutions: Numa, Rusbase and Skolkovo.

As a part of the programme, each company selected will receive complimentary coaching sessions with seasoned entrepreneurs who will give them sound advice ahead of the formal pitches taking place on 14 July. These sessions will take place in St. Petersburg, in group and individually for more in-depth feedback.

“It is a pleasure for us to welcome these 10 companies to our first showcase in Russia,” says Kevin Johnson, Head of Innotribe Innovation Programmes at SWIFT. “The Startup Challenge is an enriching experience for all participating companies. They benefit from expert mentoring and get that much needed exposure to financial institutions. We look forward to collaborating with another bunch of talented startups, and engaging with them in Saint Petersburg!”

“The collaboration between SWIFT, the Bank of Russia and the other Rosswift task force members (National Settlement Depository Sberbank and Alfa-Bank) has been very intense and very enriching, and I’m happy that this major event has allowed my Innotribe and other specialists focusing on FinTech to meet with the buoyant Russian FinTech environment!” says Matthieu de Heering, SWIFT’s Head of Russia, CIS and Mongolia. “I look forward to a great event at the IFC, and to the three winners leveraging their time at Sibos for invaluable international exposure and experience!”

After the pitches, the audience will vote for the three best startups who will be invited to Sibos, SWIFT’s annual global financial services conference, taking place from 16-19 October in Toronto. The three finalists will have the opportunity to share the stage with FinTech experts, providing great insights on innovation happening in Russia to the financial industry at large. They will also receive a 10,000 USD cash prize each.

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