Date: 19/06/2019

Raiffeisen Bank invites startups to take part in “Elevator Lab Challenge” project

Applications are open for the second ‘’Elevator lab challenge’’ project, organized by Raiffeisen Bank International. This year’s accelerator program will have a regional character and will be carried out by Raiffeisen Bank in Bosnia and Herzegovina, Croatia and Serbia. The program will seek out fintech startups in these three countries, as well as Montenegro and Slovenia.

To take part in the program, domestic startups will go through a selection process run by a local committee of experts, consisting of Raiffeisen bank managers and successful domestic entrepreneurs. The winner of the local competition will receive a EUR 5,000 award and direct access to both regional and global Elevator Lab Program semifinals. The winner will also have the opportunity to be part of a pilot project with a local bank, to take part in bank system innovation and join a global network of 16.1 million clients. The regional winner will also receive a EUR 5,000 award, and alongside all the above benefits will get direct access to the global Elevator Lab Program semifinals and broad media coverage for further development of ideas.

“This program, which we are organizing for the second time in a row and for first time in cooperation with colleagues from the region, aims to establish synergy between banks and startups and import innovations to the banking market. This trend is notable in the most developed markets and we believe it is crucial for the further development of banking. Therefore, we are inviting all domestic startups who think they have a good idea to apply and introduce it to us”, stated Raiffeisen Board of Governors Director, Zoran Petrović.

The call for applications is open to all fintech startups who have an MVP (minimal viable product) ready and a dedicated team of founders consisting of a minimum of two roles. Startups active in the following areas will have a particular advantage: advanced analytics, artificial intelligence, regulatory technology, large companies and institutional clients, payment processing and transactions for mobility services, banking for citizens and small and medium companies, cyber security and FX solutions.

Raiffeisen Bank in Serbia is organizing the local “Elevator Lab” challenge in cooperation with the first Serbian accelerator, “StartIT”.

Applications are open until August 10.

You can find more information about the project, participation, time-frames and the awards at the following website: