More than 170 applications have been submitted for participation in the federal accelerator Generation S for FinTech startups, but only 18 most interesting and promising projects for the market were selected. They will be presented at the FinTech Startups Contest at the Finopolis 2016 Forum.
The following startups passed the selection round: Machinomy, Farzoom, Brainysoft, BankEx, DDOnline, FINAZZI, FinHub, PandaMoney, Talkbank.io, Fandiko, BI-BL Service, Cryptogramm, PlanKaban, Yango, Oz Photo Expert, Smart Security, MoiKassir, Reputation Verify.
The collection and examination of applications were implemented by the accelerator Generation S, during which its organizer, the Russian Venture Capital, together with the Bank of Russia for the first time launched a separate track Finance & Bankings Technologies.
All applications were evaluated by technical and business experts, as well as representatives of Moscow Exchange PJSC and Qiwi Company, which are the industrial partners of the Finance & Bankings Technologies track. After the evaluation process, the applications were verified by the Bank of Russia for their compliance with the contest criteria: innovativeness of the offered products or services in the field of financial technologies, the ability to implement them under the existing regulatory framework, or specific proposals for the amendment of the framework, mainly electronic interaction between suppliers and consumers through the use of modern information technologies.
The startups that have passed the selection round will be presented to a wide range of participants of the financial market during the Finopolis 2016 Forum in the FinTech Startups Alley, and during pitch sessions – to the authoritative jury. The contest participants ranked first, second and third will be presented with grants amounting to RUB 3 million, RUB 2 million and RUB 1 million, respectively. Moreover, they will have the opportunity to work with mentors from among the market leaders: Alexander Galitsky, Co-founder and Managing Partner at Almaz Capital Investment Fund; Mikhail Ehrenburg, Senior Vice President for Digital Business Development at Sberbank PJSC; and Viktor Remsha, Founder and Chairman of the Board of Directors at Finam Investment Holding.