The investment arm of QIWI, the Russian payment giant, has injected $700,000 into 12 startups selected for the QIWI Universe acceleration program, hosted by Moscow State University’s business incubator. According to the company’s press release, over 500 applications were received out of which eight pre-seed stage and four more mature projects were chosen.
Among the finalists are projects in e-commerce, telecom and financial sectors, as well as Big Data and CRM. Some projects are complementary to QIWI’s main business while others represent technological solutions that can help enhance and develop IT infrastructure in the future.
In the next four months teams will participate in QIWI Universe, a special intensive course that combines the best theoretical programs of Silicon Valley and Russian business practices. Top managers and shareholders of QIWI, as well as leading entrepreneurs and IT market experts, will be among the teachers and mentors of the program. The final step of the program will be a special DemoDay event where graduates will present their projects to Russian and foreign investors.
The eight pre-seed stage startups have received $20,000 from QIWI, while the remaining $540,000 has been split between the four more mature companies.
Alexey Barinsky, QIWI Group’s chief investment officer, commented that “During these two months we’ve met many of the teams and founders in person. Through hackathons we got directly involved in all stages of the project development, from building the team to prototype development and business models. We hope that each participant of the QIWI Universe program will be able to repeat QIWI’s success and work their way up from a small startup to an international company. Our main goal is to provide these projects with the infrastructure and resources necessary for efficient and balanced development.”
The names of the four more mature startups have not been disclosed. The eight pre-seed projects are:
- PrimeContext– a cloud-based multitool service for e-marketers;
- Your Audio-Guide (Ваш Аудиогид) – a mobile app offering audio tours of major world cities;
- e-Surguch – a universal system that verifies electronic legal documents;
- Easy Wallet – A mobile app that allows users to manage accounts on a number of bank cards, as well as additional helpful banking services;
- Tutt.ru – a system for short-term renting;
- SmartInterface – a developer of contactless interfaces;
- CheckIt – a service that uses bar codes to allow users to quickly find information about theprice and availability of products;
- Artofad – an interactive advertising service.