Retail Innovation Tech Alliance (RITA), consisting of X5 Retail Group, Beeline, M.Video-Eldorado Group, and Hoff summed up the results of the first stage of the scouting program. As part of the selection of startups, 395 applications were received from 17 countries (Russia, Belarus, Great Britain, Germany, Spain, Israel, Kazakhstan, Lithuania, Latvia, Luxembourg, the Netherlands, Romania, USA, Serbia, Ukraine, Finland, Estonia). The volume of applications received 4 times exceeded the program plan. 15 startups reached the finals and participated in the online Deal Flow Session with the RITA experts. GoTech Innovation was the scouting operator in Russia and the CIS.
The majority of the proposed innovative solutions relate to the following areas: improving customer relations, remote support for online sales, increasing the efficiency of online trading. (in the delivery and assembly of orders, during transportation of goods), as well as solutions in the field of advertising, marketing, and financial technologies, home mobile entertainment, and automatic interior design. In their solutions startups-participants of the contest use the following technologies: AI/Machine Learning (20%), IoT/Robotics (11%), Big Data (7%), Computer vision (6%), Cloud Tech (6%), AR/VR (5%).
Companies with solutions of different maturity took part in the RITA program: 25% are at the pre-seed stage, 11% are at the seed stage, 27% of the teams assigned themselves to the startup stage, 24% came from companies at the growth stage and 7% at the stage of expansion to international markets. 43% of participants indicated that they are residents or graduates of accelerators, and 47% already had their first sales.
15 teams reached the finals, and they will have the opportunity to finalize the MVP, test the working capacity of the technology, launch a pilot with partners of the RITA alliance, and implement their project for millions of customers and in thousands of outlets. Startup SWiP, a technological platform for clients’ payment using their face biometry, received the highest number of points from the RITA partners, it gained the opportunity to participate in the acceleration program of the Parisian retail hub Lafayette Plug & Play.
RITA is a fundamentally new approach to finding innovation. This association is unprecedented for Russian retail: the efforts of the four largest companies are joining together for effective scouting around the world. On this site, partners freely exchange their experience, solutions evaluation, and implementation results.
The list of participants of the RITA Deal Flow Session on May 14th (listed in alphabetical order):
Read more about the results of the first selection of startups on the website: www.rita.vc
The next stop on our technological journey to China is to explore the country’s innovation ecosystem. Here we will not touch on the topic of venture capital investments, as we discussed it in the previous article. However, we will find out the exact number of unicorns in China, their main habitats and study the activities of the Chinese government in the development of innovations.
MoreGoTech Innovation initiates a series of articles delving into the success stories of GoTech Arena international startup contest winners from 2009 to 2019. We aim to track the evolution of startups pre and post winning the contest, exploring their journey to the present day.
MoreA two-week New Year celebration is starting in China, and we at GoTech Innovation decided it was time to take a look at the landscape of investments in the country’s technology companies.
MoreRetail 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.
MoreThere are 3 days left until the end of the selection of startups conducted by Retail Innovation Tech Alliance (RITA).
MoreOctober 20, 2021 Moscow – The Retail Innovation Tech Alliance (RITA) announces the sixth selection of startups to implement joint projects with the largest retail and technology corporations in Russia and Kazakhstan.
MoreOn October 14, the pitch sessions of the finalists of the Finlanding took place. 12 companies presented their projects to the experts of Helsinki Centre, NewCo Helsinki and Helsinki Business Hub.
More2020 was a record year for investments in startups in Finland. 10 years ago, the amount of financing for young companies was 8 times less.
MoreOn September 20, the acceptance of applications for technological projects within the Finlanding program ended. We would like to share its results with you.
MoreFinlanding, a program to support technology companies, continues to accept applications. Representatives of the program organizers – the Helsinki Center in St. Petersburg and the Helsinki Business Hub – talked to Evgenia Barchenko, the chief of operating officer of GoTech Innovation consulting company, about what helps Russian startups to develop in Finland, and how to successfully pass the current selection.
MoreGoTech team has been working with startups for more than 10 years. If you want to run a corporate accelerator, prepare to hold a contest, conference, hackathon, pitch-session or any other event, where it comes to startups and technologies – let’s get acquainted, we will be glad to help.
GoTech is a leader in the field of technology scouting. Our funnel numbers more than 12 000 startups from 50 countries and is constantly updated. Experienced team and international partner network allow finding solutions for corporate tasks and startups for investment in Russia, CIS, Europe, Asia, and Latin America.
We use our own TechScout platform to work with startups. Now it is available for wide use. With the help of TechScout, you will be able to collect applications from startups on your website, manage the pipeline, organize the work of experts and monitor the results of the assessment.
