Accelerating tech in financial services

ING takes the lead in organising the accelerator programme with the aim of identifying relevant technologies and solutions for its customers. ING will provide mentorship and guidance to startups from its senior managers and content experts, as well as access to various infrastructure elements (APIs etc).

Deloitte and SWIFT Innotribe are core FinTech Village partners. They will play an important role in selecting the startups and providing access to several senior managers and content experts for mentorship and guidance.

Deloitte will provide regular coaching and advice to startups on matters such as innovation, security, growth hacking, etc. This advisory support will be delivered directly by senior resources, including Deloitte’s partners as well as leaders of relevant practices and excellence centres.

Moreover, Deloitte will make its global network available for FinTech Village participants, whether it is to reach Deloitte globally or to help access external resources and contacts in the broader Deloitte network.

Innotribe will bring their unique expertise in the fields of payment and securities infrastructure, security and standards but also compliance and innovation.

Next to its core partners FinTech Village is supported by investor, technology and other partners.

Eligible Startups hosted in FinTech Village will also be admitted to the IBM Global Entrepreneur programme for Cloud Startups and receive IBM Cloud credits from IBM to launch, build, and scale their business on the IBM Cloud. Startups have access to IBM Softlayer and IBM Bluemix including a range of Services and API's such as IBM Watson, Internet of Things, Analytics, Mobile and more.

Every FinTech Village partner and ING recognise the importance of open innovation. Open innovation and working with startups is critical to bringing new financial services to our customers faster than would otherwise be possible. The fintech ecosystem is ever-changing and startups bring the necessary agility required to create distinctive value propositions. FinTech Village core partners aim to build a win-win-win model where startups can benefit from their industry scale and expertise and industry partners can identify unique business opportunities offering exciting and innovative services to the benefit of their customers.

Over time, we expect other partners to join and enrich the programme. Likewise, partners may decide to end their partnership. We welcome new partnerships that will make the FinTech Village an even more vibrant accelerator and add more unique value to startups. We do not make any guarantees as to the availability and contribution of partners.

In a first phase, the application process is held online via an application form where you can tell us about your startup. The questions are designed to understand your solution, your team and the fit with our criteria. It is also designed to help us understand who could be your best mentors and sponsors at ING and our partner organisations. This is important, because the second phase of the selection involves potential lead mentors who will review your application and start thinking about the tailored programme you would receive from them. Shortlisted candidates will be invited for interviews/pitches in Brussels. Candidates that are not retained on the shortlist will be informed. Between the application and interview/pitches we may ask for additional information when needed. The selection is at the entire discretion of ING and its partners.

Our application form on www.F6S.com covers many questions on the problem and market you address, your team, stage of development, etc. We understand that depending on the stage of development of your startup you may or may not have answers to all questions. That is fine. However, keep in mind that with more information we will be in a better position to understand and assess your startup.

No, just complete the application.

Yes, you will need to be established as a company to join the programme.

Yes, absolutely.

Not at all.

Nationality is not a criterion, but you must be able to come to Belgium for ca. 8x3 days over a 16 weeks period (with possible exceptions to be discussed). ING has foreseen a reasonable budget for the travel and accommodation of international participants.

Please carefully read through the entire website, including this FAQ, the terms of use of the website and the privacy statement and you will then know everything you need to apply. If you get through the first selection, you will receive more information on what is expected from you during selection interviews.

If you are selected, ING will sign an agreement with you detailing all the particulars of your participation to FinTech Village, such as the services, office facilities and mentoring to be delivered, other respective rights and obligations, publicity, etc. Short-listed startups will be informed in due time.

The unique offer of FinTech Village is the opportunity to execute a PoC/PoV with a top tier bank through a sponsorship structure that appoints a dedicated senior manager at the bank who wants to explore the potential of a commercial collaboration with you.

Next to this seasoned banker profile, you will be able to benefit from hands-on mentoring from a personalized mentor team existing out of senior experts from ING, our partners, entrepreneurs, VCs, etc. with the goal to make your stronger as a company.

You will also receive unique access to top-level expertise & the networks from leading players such as SWIFT Innotribe, Deloitte, serial entrepreneurs, influencers, etc.

Each startup will be assigned a lead sponsor who is a senior leader at ING. If relevant you will also have a mentor from one of our Partners.

In addition to your lead sponsor, ING and its partners will also assign topical or functional experts who can accelerate the development of your startup, depending on your specific requirements.

ING, Innotribe, Deloitte and/or other partners will put forward their global networks of expertise and relationships to support your business. The FinTech Village will facilitate access to potential clients, suppliers, advisors, investors and other resources you may need.

At the end of the programme there will be a demo day open to key stakeholders on invitation. We will invite key figures from the networks of ING and its partners, including the press and several VCs.

The primary purpose of FinTech Village is to help startups test their concept with a Proof of Concept, Proof of Value or a pilot, and proceed into further collaboration if relevant. The primary purpose is not to access funding. However, if you would need funding, we would be happy to put you in contact with our investor partners. If you are offered funding through an investment, this will be an arrangement between you and the respective investor. You should seek independent advice if required, before making a decision.

Next to that, under specific circumstances, FinTech Village may contribute to travel and housing expenses for teams coming from abroad.

Participating in the FinTech Village programme does not require any transfer of intellectual property rights from your startup to ING. There might be exceptions if your participation in the FinTech Village involves deep co-development and sharing of IP assets belonging to ING or its partners during the programme. This will then be subject to a separate agreement. However, the general idea is that you remain the owner of what you bring to the table, as does ING.

You understand that ING delivers considerable input and financial means for the setup of FinTech Village and its operation.

We therefore expect that you do not participate in another accelerator programme during your stay at FinTech Village, and that you will personally attend and invest sufficient effort to make your FinTech Village experience successful.

On the other hand, we understand that startups need to work with multiple clients and partners, who sometimes are our competitors. We like to work with successful companies and we will help you to the extent possible to grow your business (e.g. through referrals). However, we expect startups to be transparent about concurrent PoC or pilots with direct competitors to us and our partners, both during the selection procedure as during their stay at FinTech Village. Whether this causes issues to attend/continue attending FinTech Village will be discussed on a case by case with the startups.

No, applying is free of cost. You do however agree to apply at your own risk and bear all costs you incur to make your application and participate to the selection process.

Once selected, you will not have to pay a fee for being at the FinTech Village or for the services offered there. You will however bear your own costs and fund all activities of your staff, technology and other resources during the programme.

A reasonable budget for travel and accommodation has been foreseen by ING for international participants.

The FinTech Village is located in Brussels, close to ING and its main partners.

Yes, this is critical. We expect founders/senior leaders within your startup to spend a significant amount of time on site. Without this, the programme will not deliver its full potential. However, it does not mean that your entire team must be on site at all times.

We do not provide accommodation. If needed we can put you in contact with parties that can help you find accommodation during your stay at the accelerator.

Startups and founders can come from anywhere. However, your team will need to have the legal right to stay in Belgium at least for the duration of the programme. We can put selected startups in contact with agencies and services that can help you with visas and immigration matters. If necessary we will help you with visa/immigration issues.

After the completion of the programme, the startups who will continue to conduct a Proof of Concept or Proof of Value with ING and/or its partners might have the opportunity of staying on site until a new cohort arrives. The exact conditions can be discussed as part of the proof-of-concept agreement.