OTP Startup Booster Program is an international partnership program seeking later-stage startups with validated products and scaleups from all over the world, with the chance to build goal-oriented, business-focused, and mutually beneficial partnerships with OTP Bank (headquartered in Budapest, Hungary).
The program starts with a 3-month pilot phase, after which the most successful cohort companies are admitted to a 6-month rollout phase aimed at supporting the full-scale, live integration of the tested solutions into the operation of the bank. All participants can take this unique opportunity to refine their product, grow their business, and expand their networks through projects conducted in one of the 11 countries where the OTP Banking Group is present and via bespoke training and mentoring sessions.
Benefits:
- Results-oriented pilots based on real business needs (business-relevant Proof-of-Concept or pilot projects with one of the banks belonging to OTP Group, collaborating directly with renowned OTP experts);
- Dedicated support from piloting to live collaboration (connection with the right stakeholders and key decision-makers within OTP Group, dedicated resources to support the live rollout in case of a successful pilot);
- Business development acceleration & potential customer base (opportunity to forge new partnerships within OTP Group and get access to up to 19+ million customers in the CEE region);
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Customized mentorship (business insights and guidance from dedicated mentors and key decision-makers at OTP Group with market-specific expertise in 11 CEE markets);
- Investor relations & international networking (introductions to PortfoLion, OTP’s VC and PE arm, to other VCs and angel investors and access to an extensive pool of renowned mentors, leading corporate partners, and our proven alumni companies);
- No cost, no equity (there are no application or participation fees, we take no equity, we do not lock you in).
What is OTP Bank looking for?
Startups and scaleups, which meet the following criteria:
- The company is managed by at least two full-time founders, covering both business and tech competencies. Moreover, OTP Bank encourages women-led companies and startups with gender-diverse founding teams to apply.
- There is some novel and scalable technology or an innovative business model behind the product.
- The product is market-ready, validated at least through pilots (even better if they already have live users and/or corporate partners).
- There is a founder, a C or VP level executive who will devote the necessary time, energy, and attention needed to driving the partnership with OTP.
2022 batch timeline
Pre-program milestones:
Launch of open call: 7 Mar 2022,
Application deadline: 11 Apr 2022,
Online interviews: 18 Apr – 29 Apr 2022,
Offline selection days in Budapest: 25 – 26 May 2022.
Pilot phase milestones:
Kick-off week: 05 – 09 Sep 2022,
Mid-term week: 10 – 14 Oct 2022,
Final week: 21 – 25 Nov 2022,
Online Demo Day: 30 Nov 2022.
Post-program milestones:
In case of successful pilots` admission to the 6-month rollout phase aimed at long-term partnership,
Alumni membership.
