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Sberbank, FortRoss Ventures, and the American Business Association of Russian-Speaking Professionals (AmBAR) sign agreement on partnership and strategic cooperation

01.06.2017

Sberbank, FortRoss Ventures1, and the American Business Association of Russian-Speaking Professionals (AmBAR) signed an agreement on partnership and strategic cooperation.

Sberbank, asset management company FortRoss Ventures, and AmBAR are launching a year-round series of educational programmes for the management of Russian corporations and investment funds – Sberbank’s clients – in the Silicon Valley. The programmes are aimed at extending cooperation between Russian corporations and their US partners by contributing to the transition of knowledge and experience, methods and technologies, and engaging rapidly growing technology companies in work with Russian corporations interested in innovative development.

These programmes help managers of corporations sense the atmosphere of the Silicon Valley and use the experience for further implementation of innovative technologies and new business models in their corporations.

AmBAR educational programmes are based on personal meetings with founders, key employees and specialists from the most innovative US companies , technological leaders, leading scientists and experts from Stanford and other universities, as well as venture investors from Silicon Valley’s major investment and corporate funds.

As part of the cooperation, FortRoss Ventures and AmBAR plan to offer two types of programmes for Sberbank and its clients: broad profile managerial programmes and individual programmes. The managerial programmes cover a wide range of Silicon Valley innovations and all of its main industries.

The individual programmes are unique and will be built according to the specific interests and goals of Russian corporations. The topics include corporate strategy, sales, business models, effective leadership, scaling up business, organisational culture and manufacturing, as well as specific industry-related issues: high technologies, energy, modern banks, new technologies in the oil industry, medicine, and biotechnologies. Special attention is given to meetings with leading start-ups that are interested in establishing long-term cooperation with Russian corporations.

Sberbank’s Senior Vice President and Head of Sberbank CIB2 Igor Bulantsev said: “Sberbank CIB believes cooperation with clients that are actively implementing new innovative technologies is very promising. Sberbank CIB jointly with AmBAR and FortRoss Ventures is launching an internship programme in Silicon Valley to strengthen ties with leading international companies and leaders of the New Economy. The programme will allow clients of the bank to acquire advanced experience, learn about new business models first-hand, and familiarise themselves with the latest trends and new digital technologies. We hope that this programme will allow our clients to move to a brand new development stage, receive the experience and knowledge necessary to start new successful projects, and strengthen their leading positions on Russian and foreign markets.”

AmBAR’s President Anna Dvornikova said: “Established in 2003, AmBAR is the largest professional business organisation of Russian-speaking professionals beyond Russia’s borders. AmBAR initiated the first historical trip of representatives of major US venture funds controlling $60 bln to Moscow and a return visit of the Russian President to Silicon Valley. For many years AmBAR has served as a bridge between Russian businesspeople and US partners.”

Managing Partner of FortRoss Ventures Viktor Orlovsky said: “Our tasks include establishing connections between Silicon Valley’s innovative companies, which receive investment from funds we manage, and our partners and investors from Russia. We help our companies enter Russia and other markets where Sberbank and our other investors are present. If our investors learn about portfolio companies and potential objects for investment in Silicon Valley, this will pave the way for more interaction and successful cooperation.”

Information for editors

Sberbank CIB3 is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business4, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.

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1 Registered trademark used by MoneyTime International
2 On the basis of JSC “Sberbank CIB”
3 On the basis of JSC “Sberbank CIB” and Sberbank
4 Banking products and services provided by Sberbank