We are looking for startups that have products or services in the financial technologies field. The following areas of fintech are interesting for us:

• Advisory (e.g. online advisors, roboadvisors, PFM),
• Cross-process (e.g. sales support, big data analytics and predictive modelling,),
• Financing (e.g. crowdfunding, micro-loans and credit facilities, pawning),
• Infrastructure (e.g. security, blockchain), Insurance (e.g. risk management),
• Investments (e.g. equity crowdfunding and Peer-to-peer lending, roboadvisors),
• Payments (e.g. digital wallets, mobile payments and peer-to-peer payments, cryptocurrencies, money transfer)

We are looking for early stage startups that have a team with diverse skill sets and a clear business idea (having an MVP is optional but not required).

MKB Fintechlab is working closely with professionals from MKB Bank. We invite experts from the bank to mentor startups and deliver workshops in their fields of expertise. The incubated startups have the opportunity to run pilots with MKB Bank, the pilot negotiations are supported and facilitated by Fintechlab.

We are looking for startups that bring innovation into the world of finance. They can develop solutions for multiple sectors and can create value in the banking and finance sectors as well. If you feel like the description suits you, feel free to apply.

1. The application starts with an online application form where you will introduce your team, problem, product, market and results (basic onepager content). The goal is to give us an important overview of your startup.
2. In 7 days we give you feedback and if you succeed to the shortlist phase, invite you to fill out the detailed application form.
3. The application closes on Sunday, 3 December 2017. On Friday, 8 December 2017 we invite the best 20 startups to a 2-day long event in Budapest, called Selection Bootcamp.
4. At the bootcamp you can our team and mentors, get to know the details of the programme and we can test whether chemistry works between us. You will participate mentoring sessions, fill out short surveys and get to pitch to the leadership of MKB Bank.
5. After the bootcamp, 8 startups are selected to the incubation programme beginning February 2018.

We don’t expect a detailed business plan, during the incubation you will have time and plety of help to figure out details of your business. However we expect you to have clear understanding about how your business model should look like.

7 days after you fill out the short application we give you feedback if you can move forward with a more detailed application form. We will notify the startups who have filled out their detailed application on 8 December 2017 whether they have qualified for the Selection Bootcamp.

If you have received funding from angel investor or an incubator/accelerator you can apply to the Fintechlab.

The application is open worldwide. We will notify the teams accepted to the incubator at least 1 month prior the start of the program so you have to make sure to get your VISA and arrive to Budapest in time.

The following areas of fintech are interesting for us:

• Advisory (e.g. online advisors, roboadvisors, PFM), Cross-process (e.g. sales support, big data analytics and predictive modelling,),
• Financing (e.g. crowdfunding, micro-loans and credit facilities, pawning),
• Infrastructure (e.g. security, blockchain), Insurance (e.g. risk management),
• Investments (e.g. equity crowdfunding and Peer-to-peer lending, roboadvisors),
• Payments (e.g. digital wallets, mobile payments and peer-to-peer payments, cryptocurrencies, money transfer)

We are looking for startups with a strong founding team solving a real problem. During the selection process we check:

• if the team has a diverse skill set and is able to execute
• if the the founders have really thought about the business and have a business model to validate during our programme
• if you are already working on your product (working on prototype or MVP)

Yes, you have to have a Hungarian legal entity but Fintechlab’s team will help you through the process all the way.

Yes, all accepted startups will receive funding up to 100k EUR in cash in 2 steps.

Every startup gets 25k EUR in cash and 75k EUR in partner services, sandbox usage and 6 months of free coworking office space. For this we ask for 6% equity.

Yes, Fintechlab offers additional 75k EUR in funding to the 2 best teams at the end of the programme for additional 6% equity.

Through the sandbox startups can access MKB Bank’s development and testing environment. There are 3 APIs available at the moment: Account Information API, Payment Initiation API and Branch/ATM API. For more information visit the Developer Portal.

The incubation programme is 12 weeks long and startups gain tons of knowledge through workshops, mentor sessions and meetings with industry experts all along the programme. The workshops cover these main areas: business model, business development, compliance, team, product development and pitch. The programme ends with the Demo Day, an event where you’ll showcase your business to an audience of 100-200 investors, partners, banks, mentors, media and local startup ecosystem.

When you are selected to join at least 2 people from your founding team is expected to make a 100% commitment to being on-site for the full 3-month programme duration.

The incubator is located in the centre of Budapest, Hungary. Our address is Nyugati tér 5, 1132 Budapest, Hungary.

If you are selected for the incubator 2 people from your team (preferably key people meaning the founding team) is expected to move to Budapest for the entire 12 weeks programme duration.

We don’t cover travel and accommodation costs, but we provide fast funding and free coworking office space with facilities during the programme. You can stay and work from the coworking office for 3 more months after the programme ends.

Our mentors are entrepreneurs, banking experts and corporate partners. Every startup gets a key mentor working at MKB Bank, the key mentor is guiding the startup through the cooperation with the bank.