FAQ Bootcamps

About the Elevator Lab Bootcamp

Elevator Lab Bootcamp is single country challenge targeting seed/ early-stage startups/ single-founders to educate them and grow their idea/products. It is an educational program organized in three RBI network banks- Bulgaria, Belarus and Romania. Elevator Lab Bootcamp is aimed at helping aspiring entrepreneurs understand what it takes to build a fintech startup and how can turn their fintech startup idea into an MVP (minimum viable product). Future founders or teams in their first stage of development will receive a fast intro into the startup world from experienced mentors who are actual startup founders.

The Elevator Lab Bootcamp is the best way to get in contact with your local RBI network banks as well as the opportunity to learn how to grow your company and understand the requirement to cooperate with a bank. Elevator Lab Bootcamp is aimed at helping aspiring entrepreneurs understand what it takes to build a fintech startup and how can turn their fintech startup idea into an MVP (minimum viable product). Future founders or teams in their first stage of development will receive a fast intro into the startup world from experienced mentors who are actual startup founders.

No, the Elevator Lab Bootcamp supports on the one hand startups with technologies, ideas, solutions or services that might be used in banking and finance. On the other hand also single-founders and aspiring entrepreneurs can apply for the Elevator Lab Bootcamp. Please refer in your application on how you think your idea could fit to Raiffeisen.

Typically, the duration of the Elevator Lab Bootcamp is around 2-3 months, between the opening of the application phase and the winner ceremony. Further steps regarding cooperation may vary between the different banks.

About the application process

The Program is open to seed/ early-stage startups/ single-founders active on the fields of financial services to educate them and grow their idea/products.

We recommend you checking first if there is an Elevator lab Bootcamp in your country as not all of the RBI network banks are organizing an Elevator Lab Bootcamp this year. Check here: www.elevator-lab.com. After that we recommend you applying for the Elevator Lab Bootcamp in your country of origin in order to assure the best starting position for you (local language, market know-how, scalability etc.) You can submit your application on the respective Elevator Lab Bootcamp website.

The application process starts with filling out the online application form, which will be communicated on the local network bank website, on Elevator Lab´s website as well as on the social media in form of “Apply now” button and will be open for about two months. The application is opened differently depending on the network bank, therefore see the details on the local network bank website. In the online application you will have to register yourself (name, contact details) and introduce shortly your idea/product, the market you want to/are operating in, your team as well as why you are applying for the bootcamp. When you successfully submit the application, you will receive a confirmation email about your application. After the application is submitted, the Elevator Lab Bootcamp Jury screens and evaluates it.

Your application should be as detailed as needed for an outsider to understand your business concept and market opportunity. Regarding your application, we take our decision based on the information in the application form you filled in. If you want to provide us with a business plan/ roadmap, please feel free to do so.

We try our best to notify you as soon as possible after our Elevator Lab Bootcamp Jury evaluated all startup applications. If you could not make it, we’ll also let you know accordingly.

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About the selection process

After your application has been submitted onto our online platform, the local Elevator Lab Bootcamp Jury will screen and evaluate your application based on the information you provided us with in the application form. Shortlisted candidates will then be invited for the final local Bootcamp event/ workshop(s).

Elevator Lab Bootcamp is looking for seed startups/ early-stage startups/ single-founders to educate them and grow their idea/products. Thus, if you are enthusiastic, have an innovative idea or early stage product/service in the financial services fields and you can show us that you know and understand your market, you are a strong candidate!

The Elevator Lab Bootcamp Jury consists of carefully selected executives out of RBI’s local subsidiary bank, leading experts from other industries and from your local startup ecosystem. The Jury screens and evaluates your application and provides you with valuable feedback at the pitching session.