FAQ Challenges

About the Elevator Lab Challenges

Some of RBI’s network banks offer fintechs in the local ecosystems the opportunity to work together on a proof-of-concept in the course of their local Elevator Lab Challenge. There are two types of Elevator Lab Challenges offered by our subsidiary banks:

  • Local Elevator Lab Challenge – Program organized by one of our subsidiary banks in CEE targeting local later-stage fintechs to cooperate with the local Raiffeisen Bank.
  • Regional Elevator Lab Challenge – Program jointly organized by several subsidiary banks in CEE (mostly banks from neighboring countries) for later-stage fintechs in the region to cooperate with the local Raiffeisen Banks.

The Elevator Lab Challenge is the best way to get in contact with your local Raiffeisen Bank. Each subsidiary bank organizes the local challenge in cooperation with a partner from their own local startup ecosystem. More details can be found here.

This is a startup program organized by one of our subsidiary banks in CEE targeting local later-stage fintechs to cooperate with the local Raiffeisen Bank.

This is a startup program jointly organized by several subsidiary banks in CEE (mostly banks from neighboring countries) for later-stage fintechs in the region to cooperate with the local Raiffeisen Banks.

Elevator Lab Challenges are the best way to get in contact with your local Raiffeisen Bank. For all winners there will be country-specific prizes e.g. cash-prize, chance to work on a PoC, mentoring.

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 (your proposed use case).

Typically, the duration of the Elevator Lab Challenges is around 3-4 months, between the opening of the application phase and the winner ceremony. Further steps regarding cooperation may vary between the different banks.

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

About the application process

The Elevator Lab 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 of the respective Elevator Lab Challenge: https://elevator-lab.com/challenges/

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 (you are also able to apply 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.). 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.

The application process starts by clicking on the “apply now” button on our website or social media. You will be redirected to the RBI Fintech Database, which is our tool with which we are managing all our fintech contacts. Once there, you’re only 3 small steps away from applying:

  1.  Sign up your fintech
  2.  Fill out your fintech’s details and upload your pitchdeck
  3.  Apply for the Elevator Lab (select your program of choice and place your application)

That’s it! Your application is placed and you will receive a confirmation e-mail. The Elevator Lab mentors will now start screening and evaluating your application.

If you have further questions during the registration process do not hesitate to contact us: startups@rbinternational.com

You have a fintech startup and want to get in touch with RBI Group? Take the first step and register on RBI’s Fintech Database even if there is no open call for applications. The fintech database is the tool with which we’re managing all fintech contacts. You can create a profile of your fintech and upload your pitchdeck, we constantly screen new registrations and will get back to you by e-mail.

Simply by registering to the RBI Fintech Database you will have the following benefits:

  • Visibility to several banking experts & fintech managers across all our 13 banks within RBI Group in CEE and Austria
  • Get informed automatically about open calls for Elevator Lab
  • Get contacted in case of on-demand PoCs taking place additionally to Elevator Lab initiatives
  • Exposure to Elevator Ventures, RBI’s venture capital entity

Your registration and application via the RBI Fintech Database 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. Regarding your application, we take our decision based on the information in the fintech database, pitchdeck or videos provided by you and – most importantly for the semi-finalists – based on the information we get during the video pitch and Q&A. If you want to provide us with a business plan, please feel free to do so.

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

Please feel free to apply for the Elevator Lab again, even if you were not chosen to take part in the program in the previous years since strategic focus and/or timing may have changed. In case you have already submitted an application in previous years you already have a profile on our RBI Fintech Database which makes the application process even more convenient:

  1.  Login at the RBI Fintech Database (rbi-fintechdatabase.com/login)
  2.  Update your fintech’s details and upload a new pitchdeck (if needed)
  3.  Apply for the Elevator Lab (select your program of choice and place your application)

If another team member registered your fintech in the previous years and you cannot log in to your fintech’s profile anymore, please contact us at startups@rbinternational.com

After a period of 3 years the registration and provided information about your company will be deleted, unless you update the information about the company before the expiry date at 31.12. of each respective year.

In case you would like to delete your profile and company information from the Fintech Database earlier, please contact us at startups@rbinternational.com.

About the selection process

After your application has been submitted onto our online platform, the local Elevator Lab 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 to the local finalist ceremony, where the winners will be selected after the pitching session with Q&A.

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.

The local Elevator Lab Jury consists of carefully selected executives out of your local Raiffeisen Bank, leading experts from other industries and from your local startup ecosystem. The local Jury screens and evaluates your application and provides you with valuable feedback at the pitching session. In case of an regional Elevator Lab Challenge,  there is also an additional regional jury that chooses from the local winners of the participating countries the regional winner. Further steps regarding cooperation may vary between the different banks.