Our fintech challenges in CEE are held once per year and support you in product development and market entrance: As a participant, you get the chance to develop a pilot project with our local bank – develop concrete fintech solutions with the help of experienced mentors and access to real customer data. A unique fintech incubator – equity-free collaboration with your local bank to get your solutions ready for the market.
What is the Elevator Lab Challenge?
The Elevator Lab Challenge is the best way to get in contact with your local Raiffeisen Bank and is a fast track to the group-wide Elevator Lab Partnership Program. Seven RBI network banks – Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Kosovo, Russia, Serbia and Slovakia – offer startups in local fintech ecosystems the opportunity to apply to their local Elevator Lab Challenge. Each Challenge cooperates with partners from their own local startup ecosystem and offers their own prizes for the Challenge winners.
There are two types of Elevator Lab Challenges:
- Standard Elevator Lab Challenge
- Regional Elevator Lab Challenge
More details can be found on the respective website of each local Elevator Lab Challenge.
Why you should apply for a local Elevator Lab Challenge
Our fintech challenges are held once per year by our local Raiffeisen Banks throughout Central and Eastern Europe. These can be understood as locally organized fintech incubator programs, tailored to the needs of local later-stage fintechs in CEE.
How long is the duration of the Elevator Lab Challenge?
Typically, the duration of the Elevator Lab Challenges is around 3 months, between the opening of the application phase and the winner ceremony. Further steps regarding cooperation may vary between the different banks.
Opportunity is About:
Candidates should be from:
Description of Ideal Candidate:
Who can apply for the Elevator Lab Challenge?
The Challenges are open to every local later-stage startup, with a proven innovative fintech solution and product and sound initial funding. In addition, you must be active in one of the search areas mentioned on the website.
For which Elevator Lab Challenge should I apply?
You will be able to apply for the respective Elevator Lab challenge which matches your country of incorporation or one of the countries you are operating in (and also for the Elevator Lab Partnership Program). We recommend applying directly for the Elevator Lab Challenge in your country of incorporation/operations in order to assure the best starting position for you (local language, market know-how, scalability etc.). In addition, if you are selected as “Global Hero” you will be directly participating in the semi-finals (video pitch) of the Elevator Lab Partnership Program, which is the fast track into the program. If there is no Elevator Lab Challenge available in your country, we are happy to receive your application directly for the group-wide Elevator Lab Partnership Program.
What are the criteria the startup selection is based on?
Elevator Lab Challenge is looking for fintechs with proven innovative fintech products and technologies. Thus, if you have a strong team, at least a working minimum viable product with first market traction and you can show us that you know and understand your market, you are a strong candidate.
Deadline: As soon as possible
Cost/funding for participants:
What is the benefit of applying to one of the Elevator Lab Challenges?
Elevator Lab Challenges are the best way to get in contact with your local Raiffeisen Bank and a fast track to the group-wide Elevator Lab Partnership Program. At the winner ceremony in your country, a “Local Hero” and a “Global Hero” will be identified for both types of Challenges. For all winners there will be country-specific prizes, typically the Local Hero – gets country-specific cash prize + potential PoC with the local bank and the Global Hero – gets country-specific cash prize + a Wild Card to the semi-finals of the global Elevator Lab Partnership Program and therefore has the chance to get selected for a group-wide pilot project within RBI Group.