DNB NXT Accelerator #3
powered by StartupLab

For the third time, DNB and StartupLab are inviting startups to the DNB NXT Accelerator. Are you looking for a 1-3 MNOK investment and a 3 month program where you can explore and utilize the broad network at StartupLab and get access to relevant teams and resources within DNB - apply by February 1st.

about the program

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 program is an attempt at making it easier.

Yes, you get a 1-3 MNOK investment, but this is also a three month program that we’ll take you through.  As you enter the program, you’ll be given desks at StartupLab, where you’ll work alongside the other participating companies. You will get weekly follow-up from a dedicated member on the StartupLab team, and we will guide you on how to best take advantage of our wider community of industry experts, other corporate partners, StartupLab alumni and investor network - so you can move faster. We also hold 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
- Full and free access to relevant expertise as needed
- A vast network consisting of internal and external resources
- Potential access to millions of customers

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

Furthermore, you’ll get access to free consultation with legal experts from SANDS, accountants from Ekstra Ressurs and patent lawyers from Dehns. And if you’re working on something related to Hardware or IoT, we have set up some additional support including a fully equipped Hardware Lab. All this to help you move forward - faster.

accelerator benefits

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1-3 MNOK investment

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

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$ 100.000 in credits from Amazon AWS

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

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$ 100.000 in credits from Google Cloud

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

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$ 30.000 in processing from Stripe

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

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90% off Hubspot CRM

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

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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's infrastructure (PSD2/Open Banking)
• Create new insurance products or solutions
• Working on new PropTech 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 for the period between 14. March and 13. June 2019.

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

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01.02.2019 
APPLICATION DEADLINE

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01.03.2019 
PARTICIPANTS SELECTED

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14.03.2019 
ACCELERATOR KICKOFF

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13.06.2019
DEMO DAY

Application deadline is February 1st 2019.
Applications are reviewed as they come in, so there's no need to wait until the deadline.