Retail Innovation Tech Alliance (RITA) has completed the sixth selection of startups to implement joint projects with the largest retail and technology corporations in Russia and Kazakhstan.More
Within three weeks, 118 applications of companies from 13 countries were submitted for participation in the program. 14 best startups selected by RITA experts are waiting for the final pitch session.
Retail Innovation Tech Alliance unites X5 Group, M.Video-Eldorado, Beeline, Hoff and the leading retail chain of Kazakhstan Magnum.
The program focuses on Russian technology companies that have a finished product or MVP aimed at improving the processes associated with offline and online retail.
The corporations have identified specific priorities in the selection process. This allowed us to receive high quality applications. The largest number of them were submitted by companies that indicated solutions to improve customer experience as their core competencies – 21% of the total. The three most popular solutions are process optimization technologies for offline stores and back office (16% each). Applications in the field of HR (12%), transport logistics (9%) and online commerce (7%) are also popular.
The most active were startups with a finished product, sales and revenues. They accounted for 38% of applications. 29% of applicants represented the Growth stage (the stage of rapid growth and scaling of the solution). Another 25% of startups noted that they had developed an MVP and were attracting first users thus monetizing their product. The rest of the applications were submitted by start-ups and companies entering foreign markets.
2/3 of the applicants emphasized that they were ready to integrate their solutions into the business of any of the partners of Retail Innovation Tech Alliance.
Based on the selection results, RITA experts have identified 14 companies that will take part in the pitch session scheduled online for December 2. During the session, each finalist will be able to present their solutions to representatives of specialized areas in the corporations that are part of RITA. After that, corporate experts will continue individual communication with startups, which may result in, among other things, pilot projects with members of the Alliance.
Pitch session participants:
- Aplaut – A platform that helps e-commerce companies develop relationships with consumers, manage customer experience and increase SEO traffic and conversion through user-generated content;
- Arenter – A platform for renting things that are required for a short period of time, without collateral;
- BON RATION – The marketplace of healthy food, where all the services for the delivery of healthy food are aggregated;
- DBrain – Automatic recognition (99,5% accuracy) and sorting of documents using AI. The service allows to automate legal routines and concentrate on the most important tasks;
- E-Contenta White Label – Solution for e-commerce platforms (online retailers and marketplaces) to increase revenue from selling ads on their; websites and mobile apps by automating processes and implementing RTB technology (Real-Time Bidding);
- Embedika – AI-based document processing software designed to help professionals with routine tasks;
- JetSkills – A platform for personnel development using smart technology of precise competence profiling, machine learning for career planning and designers to saturate the internal knowledge base;
- Joys СБП – Innovative payment ecosystem that allows retailers to accept any form of currencies: non-cash, electronic and digital, use any innovative payment system and create any kind of a loyalty programs;
- Sigbox – Pedestals for organizing contactless delivery;
- ZIAX – Voice and text robots, both for internal teams and for company clients;
- 1SOL Energy (Solar Fox) – Devices for house heating using solar energy;
- 24TTL – 24STREAM – Online merchandising solutions for enterprise brands, from shelf analytics to content syndication;
- РокетВорк – Digital HR marketplace of the Human Cloud class to ensure the rapid recruitment of freelance employees;
- Робимаркет – A system for trading any offline goods without sellers and cashiers;
Retail Innovation Tech Alliance was founded in 2020. During 1.5 years of RITA’s work, 5 selections were carried out in Russia, Europe and Israel, as a result of which a funnel was formed of more than 1000 projects representing 35 countries. Over 30 startups were selected by corporations for detailed study and evaluation in order to conduct further pilot projects.
RITA plans to hold four more qualifying sessions in China, Europe, Russia and Israel over the next 10 months. In particular, it is planned to select startups in China by the end of this year.