Sberbank, 500 Startups partners to launch Russian IT accelerator program

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Sberbank and international accelerator 500 Startups are launching a joint development programme for Russian IT start-ups working in areas of fintech and e-commerce.

After a 13-week accelerator programme conducted for various startup from different fields, the selected 25 will each receive a seed investment of up to 10 million rubles and the possibility of cooperation with Sberbank of Russia and partners of the accelerator.

Lev Khasis, first deputy chairman of the executive board of Sberbank, said: “It is important that our joint project is focused on selecting Russian start-ups and allows American companies to take part in the selection. There has been nothing similar to this in Russia before.”

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