OTP Bank is looking for new startup partners!
Budapest, 14 October 2019 – OTP Bank opens the third edition of the international partnership program for startup businesses, also known as the Startup_et Partnership Program of OTP Bank. This program is valid for all startups, which have a product ready to be launched on the market and which can apply starting from October 14, 2019.
This edition of the program offers even wider business development opportunities for applicants. The initiative has also spread to the Group level, and for the first time, five OTP Group branches will be part of this program in addition to its headquarters in Hungary. For this reason, this pilot project will take place in several countries in the Eastern and Central European region. Furthermore – as the aim of this initiative is to turn as many startups into long-term Group partners as possible by the end of the 3-month pilot period – the program will be followed by a 6-month period, which has in order to further support this cooperation. This phase will be valid for companies of higher performance groups.
In addition to giving startups the opportunity to work on results-oriented projects based on concrete business needs, this program places particular emphasis on accelerating business development through an extensive network of mentors and the ability to build contacts internationally. This is also reflected in the expansion of the group of partners participating in this program ranging from international corporations to well-known actors in innovation ecosystems.
OTP Bank Startup Partnership Program is looking for applicants in 5 + 1 from the following categories:
Advanced Data & Analytical Tools,
Experience and customer service,
Internal efficiency,
Product innovations,
Banking for SME Businesses,
Completely innovative solutions, which do not belong to any of the categories listed above but which are related to the banking sector.
Applications will be evaluated through a three-step selection process. After completing the online application form, the selected candidates will be invited to an online interview with representatives of the relevant business units from OTP Bank. At the end of the process, the most promising candidates will have the opportunity to meet with a group of decision-makers from OTP Group in Budapest during the two-day Selection Camp activity in January 2020. Communication during this activity will be carried out mostly online. Representatives from OTP Group companies will be invited to Hungary or to the bank’s branch offices in other participating countries for a few days each month to review progress and attend the seminars themselves.
The results will be presented to OTP Group executives from startups throughout Demo Day in late May. In addition, the most successful group companies can continue their cooperation with OTP Group throughout the 6-month phase.
“During our two previous programs, we reviewed the proposals of about 500 startups for a possible cooperation and implemented pilot projects with 17 of them. Before announcing the opening of the new program, we always build on the experience gained from previous programs. For this reason, in this year’s edition the three-month pilot period will be followed by a six-month period, which aims to foster long-term cooperation. We are also very excited that this program is expanding to include five OTP Group affiliates, which have expressed a desire to join our initiative. Thanks to their participation and support, this year’s program will be completely international, both in terms of the profile of participating startups and pilot business units. ” This is what András Fischer, Director of the Retail Innovation Department at OTP Bank, said about the launch of this program.
For more information on the Startup_et Partnership Program at OTP Bank, please visit www.otpstartup.com.