M.Video-Eldorado Group launches the first selection of startups in Russia via Retail Innovation Tech Alliance

14 April 2020, Moscow, Russia. PJSC M.Video (M.Video-Eldorado Group, the Company, or the Group), Russia's largest consumer electronics retailer by revenue (MOEX: MVID), announces that today Retail Innovation Tech Alliance (RITA), comprising M.Video-Eldorado Group, X5 Retail Group, Beeline and Hoff, launches the first selection of startups. GoTech Innovation is the scouting operator in Russia and the CIS.

Thе selection is open for startups at the stage of finished product or MVP (minimal viable product), offering solutions focused on improving customer relations, remote support of online sales, increasing efficiency of business processes in offline sales, orders batching and delivery, transportation of goods, as well as solutions in advertising, marketing and financial technologies, home mobile entertainment and automated interior design. The number of applications is not limited.

Based on the selection results, top 15 teams will have the opportunity to finalize their MVPs, test the technology’s performance, launch a pilot with RITA partners and implement their projects for millions of customers in thousands of locations.

 ‘Ability to quickly adjust business processes to meet today’s customer and market needs while maintaining sharp focus on strategic goals is a paramount formula of success for any company. M.Video-Eldorado Group keeps on growing as an online business. Whether it is digital consultations, contact-free delivery or available credit options, we configure all the processes to be fast, efficient and safe. At the same time we continue our search for new solutions in sales promotion, delivery processing, marketing. RITA, joining forces of the largest corporate innovators, can take this search to a new level’, said Irina Ivanova, operational director of M.Video-Eldorado Group.  

The final stage of the selection will be held online on May 14 in a pitch session format. Each team will present their projects to all RITA partners, then there will be a series of meetings of the alliance members with the teams of interest to determine further steps for piloting their solutions. The team that will score more points from RITA partner companies will be invited to participate in the acceleration program of Lafayette Plug & Play, a Paris retail hub.

“The GoTech Innovation team will scout for AI, ML, Big Data, 5G, CloudTech, FinTech, AR/VR, Drones and other selected high-priority technologies in Russia, the Baltic countries, Finland and the CIS. The best startups will present their solutions to RITA partner companies’ top managers at an online pitch session, as well as receive proposals for implementation of joint pilots,” said Irina Kalashnikova, CEO of GoTech Innovation.

To participate, please submit an application online at www.rita.vc before April 30, 2020.