Norway’s DNB calls for fintech start-ups
Norway’s DNB and StartupLab are inviting fintech start-ups to their DNB NXT Accelerator with a chance to get NOK 1-3 million ($115,000-$345,000) investment.
This is the third outing of the accelerator and the three-month programme offers access to StartupLab’s network and DNB’s resources. Note that in return for investment they want a “targeted ownership” of around 10%.
The duo says: “We want more great Norwegian tech companies, and we work to support tech entrepreneurs in the earliest phases of building such companies. Starting up is super hard, and our accelerator programme is an attempt at making it easier.”
Firms will get desks at StartupLab, a weekly follow-up from a dedicated member on the team, and weekly lunches for all accelerator companies, where they invite entrepreneurs and investors to share insights and knowledge. DNB says they will also get “potential access to millions of customers”.
In addition, there is free consultation with legal experts, accountants and patent lawyers; and credits from Amazon AWS, Google Cloud, and Stripe.
The DNB NXT Accelerator mentions many areas of interest – such as big data, artificial intelligence (AI), cybersecurity, blockchain, banking and payment services.
It does give some specific areas. These include automation of banking systems; and developing additional services on DNB’s infrastructure (PSD2/open banking).
You can get more details and apply here. Applications close 1 February 2019.