DNB NXT Accelerator #4
powered by StartupLab

For the fourth time, DNB and StartupLab are inviting startups to the DNB NXT Accelerator. Are you looking for a 3 month program that will give your company a unique opportunity to explore a partnership with DNB, while getting access to relevant teams and resources in the bank. Coupled with a 1-3 MNOK investment and the chance to explore and utilize the broad network at StartupLab?

Apply by January 26th





about the program

We want more great Norwegian tech companies, and we work to support entrepreneurs in the building and scaling phase. New this year is that we are inviting insurance company, Fremtind and DNB Eiendom to work close with relevant startups in the program. For the 2020 edition, we would also encourage Nordic tech startups to apply. We embrace diverse teams and are actively looking for more female tech founders.

So - what do you get?

From StartupLab, the participants will get:
- Up to 3 MNOK investment (only applies to Norwegian Companies)
- A three month program with desks at StartupLab, together with other participating companies
- Weekly follow-up from a dedicated member on the StartupLab team
- Access to StartupLab's wider community of industry experts, other corporate partners, StartupLab alumni and investor network
- Weekly lunches for all accelerator companies, where we invite experienced entrepreneurs and investors to share insights and knowledge.

From DNB, the participants will get:
- A mentor from a relevant business area of the bank
- A sponsor from top-management
- Access to relevant expertise 
- A vast network consisting of internal and external resources
- Potential partnership with DNB with potential access to millions of customers

The same will apply if you are a company working with Fremtind or DNB Eiendom

All accepted companies will also get access to a wide range of credits and free services.

Furthermore, you’ll get access to free consultation with legal experts from SANDS, accountants from Ekstra Ressurs and patent lawyers from Dehns. 





accelerator benefits

1-3 MNOK investment

StartupLab will invest 1-3 MNOK in the companies accepted into the program

$ 100.000 in credits from Amazon AWS

Amazon Web Services offers reliable, scalable, and inexpensive cloud computing services.

$ 100.000 in credits from Google Cloud

Google Cloud Platform, access to architecture reviews and technical mentors, 24/7 support.

$ 30.000 in processing from Stripe

Stripe provides the infrastructure required to operate on-line payment systems.

90% off Hubspot CRM

Get 90% rebate on CRM software that helps your business grow without compromise.

And many other deals

Credits or rebate on SendGrid, IBM Cloud, Rackspace, Microsoft for Startups ++

don't take our  word for it

“DNB experts helped us build our solution, and this made everything happen very quickly. In cooperation, we prepared analyses on the size of the market and what is important to the customers, working together with the product department. We were also given access to expertise such as legal counsel, development departments, risk models and credit models”

Geir Atle Bore, Founder and CEO – FundingPartner 





what kind of companies are we looking for?

The DNB NXT Accelerator is not just for your traditional fintech startups. We are looking for entrepreneurs who are pushing innovation across all financial services and work with big data, artificial intelligence, cyber security or blockchain and any other aspects of banking and payment services for the future, in particular startups that:

• Automate banking systems
• Streamline or disrupt payment solutions, personal banking, customer insight or SME services.
• Develop additional services on the DNB infrastructure (PSD2/Open Banking)
• Create new insurance products or solutions
• Working on new FinTech, PropTech or InsurTech concepts

We are looking for ambitious teams consisting of at least two people with global ambitions. The companies should preferably have launched their product, or have plans to launch within the next six months.

The core team must be able to move to StartupLab in Oslo or Bergen for the period between 19. March and 18. June 2020. For companies located outside of Norway, relocation is not required, but traveling to Oslo 4-6 times during the program will be expected.

DNB

is - in addition to the topics above, exploring distribution of 3rd parties and we are actively looking for companies that we can distribute through our Mobile Bank, SME app Puls or savings app Spare.

FREMTIND

is looking for startups within:
Sustainable solutions for mobility, property and housing. The mission of the future is to make everyday life safe both for people and businesses, and to help them safeguard their health, their values and their surroundings. It is also important to have efficient and accurate insurance settlements - should the accident occur. 

DNB EIENDOM 

is on a mission to redefine real estate in the consumer’s favor, by making it easier, smarter and more transparent to buy and sell a home.
We strive to develop efficient business models, so we can deliver both full service (traditional) brokerage and digital brokerage to our customers.  

about the investment

  • StartupLab will invest 1-3 MNOK in the companies accepted into the program, for a targeted ownership of around 10%, and with a flexible investment approach. We are open to discuss different investment amounts and ownership percentages on a case by case basis.
  • The investment is done in the form of an investment with a valuation cap, and optional conversion on our side. For all practical matters this is works like a convertible loan, meaning your company maintains the ability to incentivize early employees long-term with stocks, while simultaneously being able to pay salaries short-term. Ensuring the company has the best possible foundation for future growth.
  • With the funding prodvided through the investment, founders are able to apply for all early-stage public funding in Norway which requires matching capital. This means most founders can get an additional 1,5MNOK in non-dilutive (soft) funding. For most early-stage tech companies, this should equal 12-18 months runway; enough to reach a significant value-increased milestone. 
  • When we convert, we take common stock in the company, and we do no futher investments in any company. Put differently; from there on out our incentives are 100% aligned, as we dilute with the founders.
  • We invest in Norwegian Aksjeselskap (AS). All selected companies have to pay a program fee of 20 000 NOK to cover office space for the program period. 

important dates

26.01.2020 
APPLICATION DEADLINE

08.03.2020 
PARTICIPANTS SELECTED

19.03.2020 
ACCELERATOR KICKOFF

18.06.2020
DEMO DAY

Application deadline is January 26th 2019.

For more information about the program please reach out to: 
DNB: maria.archontoulis@dnb.no
StartupLab: nissik@startuplab.no