FAQ

About the application process

How does the application process work?

The application starts with the online application where you will introduce your team, product, technology, market, scalability and KPIs, to give us an important overview of your startup. Shortlisted candidates will be invited for a pitching session after which the top five will be selected for acceleration. To apply, simply follow this link:

Apply here

How detailed do I have to be in my application?

Your application should be as detailed as needed for an outsider to understand your business concept and market opportunity. As bankers we love data and are used to make decisions on growth KPIs. However, we make our decisions based on our application form, pitch decks or videos provided by you and – most importantly – personal interviews with the 30 best fitting semi finalists. If you want to provide us with a business plan, please feel free to do so.

When will I hear back about my application?

We try our best to notify applicants at least one month before the Elevator Lab starts. If you could not make it into the program, we´ll notify you accordingly.

Can we still apply if we have received prior funding?

Yes, of course. Please include details regarding past rounds of financing to your application.

Our selection criteria

What are the selection criteria for choosing the accelerated startups?

Elevator Lab is looking for start-ups, with proven innovative fintech products and technologies – Thus, if you have a strong team, 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!

Does it make a difference where I am from – in case I need a visa?

Everyone is welcome to apply from anywhere. If you are accepted you must of course have a legal travel document to be able to enter and stay in the EU. Should you be accepted into the Elevator Lab, we may assist you with the organization of working visas by getting you in contact with the relevant agencies and services.

About the Elevator Lab

How long is the program?

The duration of the program is 6 months (Sept 2017 – Feb 2018)

What role will Raiffeisen Bank International AG take in the Elevator Lab?

Our dedicated Elevator Lab team works closely with a wide range of Raiffeisen experts – all of them are committed to supporting entrepreneurs and start-ups. We will provide working facilities, plus support for the start-ups to get their products or services to the market within a short period time.

What do we do during the pilot project?

Together with your supporting RBI Units you scope the pilot project and your work will be ordered by Raiffeisen Bank International and covered out of the pilot project budget where all participating Start Ups will have access to. That means that for the pilot project you are becoming a vendor to us.

 

Do you support companies that are competitive with each other?

It is our aim not to select companies which are competitors within the same Elevator Lab batch. However, it is possible that there may be competing companies in the broader network.

Do you only support startups in banking and finance?

No, the Elevator Lab also supports startups with technologies, solutions or services that might be used in banking and finance. Please refer in your application on how you think your startup could cooperate with us.

Who are the mentors?

The Elevator Lab offers a selected pool of Experts and Mentors out of the vast Raiffeisen network. Further, the program offers the opportunity to work with leading industry companies, serial entrepreneurs, FinTech experts and others.

 

Location and Living

Where will we live while we are there?

That’s up to you – we don’t provide a place to stay during the on-site co-working weeks. If you’re accepted into the Elevator Lab, we immediately assign someone on our end to help you find accommodation.

Do we have to move to Vienna during the Elevator Lab?

No, it is not required that you are based in Vienna, since the program is structured in modules with compulsory attendance.
However, we are convinced that you will benefit from the close cooperation with other startups, experts from RBI and your mentors here in Vienna. By the way, Vienna actually is one of the best cities in the world to live in

Who covers travel and accommodation expenses

Travel and accommodation (flight & hotel) of the finalists for the Elevator Lab hosted events are covered by the program.

Do you still have questions?

Please send us an e-mail