Elevator Lab – The Fintech Accelerator Program powered by Raiffeisen Bank InternationalAPPLY
Raiffeisen Bank International (RBI) is opening up for cooperations with fintech start-ups and validates their solutions during a 4-month accelerator program – Elevator Lab. Launched in June 2017, Elevator Lab is the biggest corporate fintech accelerator in the Central and Eastern Europe (CEE). It is unique compared to most other fintech accelerator programs, as it is the go-to partnership program for start-ups which want to expand their business in the CEE with a well-established banking group as their strong partner. Given the focus on later-stage start-ups, the participants have the opportunity to closely work with RBI and jointly develop and improve their products and services and potentially scaling their business models in RBI’s 14 CEE markets. The goal of Elevator Lab is a long-term collaboration between the fintechs and the RBI Group.
Following a very successful application phase in the first batch with 336 submissions from 56 countries, RBI selected five best-fitting fintech companies to participate in the program, which mastered a PoC from October 2017 until February 2018. After the Demo Day in February 2018, the pilot projects went into a post acceleration phase which is still ongoing.
On 1 May 2018, Elevator Lab started the application phase for its second batch. Application is open until 24 June 2018.
In the second batch Elevator Lab is searching for fintech startups in the following areas:
Link to Startup Application form: https://pioneers.io/piobay/login/elevator-lab-2018
The participation in the accelerator program is equity free, which means that RBI is not demanding company shares as a condition to participate in the accelerator program.
- Virtual program
Elevator Lab is a virtual accelerator program, so the biggest part of the program is happening remotely and only once a month the participating fintechs are invited to Vienna for intense working sessions.
- Access to a global network of clients, customers, investors and business partners
During the program, RBI offers potential access to its 14 CEE markets and 16.6 mn customers (retail/corporate/FIs) and its global network of investors and business partners.
- Exposure to executives and workshop sessions with renowned mentors and speakers
In addition to the external network, the start-ups get exposure to RBI Group’s executives and have the possibility to take part in workshop sessions with renowned mentors and experts.
- Funded pilot project out of a € 200.000 fund
Thereby RBI meets start-ups at eye level, already in the acceleration phase by treating them as vendors and compensating them for their costs. A reimbursement fund of € 200.000 is dedicated solely to the program.