Corporate R&D and innovation

Burger King Russia launches “Whoppercoin,” accepts crypto as payment method

October 3, 2017

Burger King Russia has just launched Whoppercoin, a cryptocurrency which can be traded for Whoppers.  For each ruble spent at Burger King locations in Russia, diners will get a quantity of Whoppercoin sent to their digital wallet via Waves, a Russian-based Blockchain platform. “Now a Whopper is not only a burger that people in 90 different …

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Sberbank calls Russian programmers to develop next-gen in-memory solutions

February 12, 2019

In a new demonstration of its commitment to develop or integrate the newest technologies, Sberbank, Russia’s national savings bank, has announced a competition for Russia-based IT developers to create new prototype solutions enabling the provision of financial services in real time. The bank is leaving it to competition participants to pick areas of solutions applications. The only …

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AddVenture invests in Russian robot lawyer

August 24, 2017

AddVenture, a major Russian venture fund, has led a round of funding of “more than $1 million” to support Pravoved.ru, a huge Russian legal consulting platform. The transaction has valued the company at $10 million, reports Forbes.ru, citing exchanges with Pravoved.ru and AddVenture. A part of the funding will be used to complete the development of Pravoved’s …

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Russian conglomerate Sistema announces new vehicle to support Indian startups

August 22, 2017

The Russian conglomerate AFK Sistema intends to deepen its engagement with Indian startups with a wholly-owned subsidiary, ‘Sistema India,’ to be launched until the end of this year, the Russian and Indian media have reported. Operating through the Scalerator platform, which is affiliated with Sistema’s existing interests in India, Sistema India will provide hands-on business execution …

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Russian banks look to a Blockchain future

December 24, 2018

Two months after President Vladimir Putin met the founder of ethereum — the world’s biggest cryptocurrency after bitcoin — a consortium of the country’s biggest banks has developed a distributed ledger dubbed Masterchain. This ledger uses a modified ethereum protocol while complying with national security standards, according to the country’s central bank-backed FinTech Association. The lenders, including Sberbank PJSC and VTB Group, are hoping that by adopting …

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Yandex deploys Big Data and AI technologies across Europe, eyes South American market

August 1, 2017

Yandex Data Factory, a B2B business unit which Yandex launched in 2014 to develop custom-made Big Data solutions, has developed significantly both in Russia and abroad, its CEO Jane Zavalishina said in an exchange with tech blog 150.com at an industry conference. From its offices in Moscow and Amsterdam, Yandex Data Factory aims to make Yandex’s technologies – …

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Aeroflot considers using cryptocurrencies and Blockchain in its payment operations

December 23, 2018

Cryptocurrency-based projects are springing up in Russia, as President Putin sees in these technologies a potential instrument for the country’s modernization and the central bank has officially recognized bitcoin a “digital currency.” One of the latest initiatives from the private sector came earlier this month from Aeroflot. The giant Russian airline company is investing 24.6 million …

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French corporate giants Decathlon and Servier hunt for Russian startups at Skolkovo

August 25, 2017

This past Monday a team of talent scouts from Decathlon, a French chain of sports stores with nearly 50 outlets in Russia, met with a range of Russian startups at Skolkovo, the international tech hub under completion on the outskirts of Moscow. The meeting was part of a joint initiative of the Skolkovo Foundation, French Tech Moscow, …

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Fintech: A Russian revolution is coming

July 23, 2017

Russia is the world’s third largest financial technology market and bankers at the annual sector conference in St Petersburg this year said they are continuing to roll out new cutting edge services as the need for digitization is becoming urgent. Russian President Vladimir Putin made digitization a centerpiece of this year’s St Petersburg International Economic Forum (Spief), …

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Ikea launches second startup accelerator program in Russia

July 20, 2017

Following the first edition in late 2015, Ikea is launching its second ‘Mega Accelerator’ in Russia. Startups are expected to help “transform the MEGA shopping malls into spaces for meetings and relaxation, improve customer experience and optimize business processes.” Owned, developed and managed by Ikea, MEGA is a leading chain of shopping centers across Russia. These malls attract some 275 …

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Russian fund makes 1,600% ROI from Chinese acquisition deal

May 31, 2017

Russia’s VTB Capital Asset Management claims to have made a 1,600% return on investment (“up to 15 times”) as a result of the recent acquisition of Grid Dynamics, a provider of advanced software development services, by China’s Automated Systems Holdings Limited (ASL). Launched in 2006, Grid Dynamics has asserted itself as a major international provider of technology …

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AstraZeneca partners with Skolkovo startups in the field of cancer research

May 23, 2017

Skolkovo, the international tech hub under completion on the outskirt of Moscow, has signed a strategic partnership agreement with the multinational pharmaceuticals giant AstraZeneca to carry out joint scientific research and educational activities in Russia. The UK-headquartered corporation considers cooperating with Skolkovo startups working in the field of cancer research. According to the Skolkovo Foundation, …

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