Turkey’s TEB calls for fintech start-ups
They might be giants
TEB (Türk Ekonomi Bankası) in Turkey has launched a fintech programme and wants the nation’s entrepreneurs and start-ups to get in touch.
Why? TEB says: “Because the day will arrive when a technology giant will come from Turkey too.”
TEB will provide start-ups with its infrastructure, experience, financial support for their first project, and “even their first customer”.
As part of its ambitions it is inviting start-ups to join the TEB FinTech Future Four Programmes – which is run in partnership with France-based BNP Paribas. (In March 2005, TEB signed a joint venture agreement with the bank. The two parties have been collaborating for many years and BNP Paribas part owns TEB.)
There are four categories open to applicants:
- Customer first – Know Your Customer (KYC) and data security;
- Digital consulting services – robo-advisory and virtual customer relationship management;
- Big data – real-time marketing and new payment / merchant technologies;
- Artificial intelligence (AI) – loyalty / gamification.
TEB’s timeline:
- 30 September 2016 – Google Hangouts meeting – “project team answers your questions”.
- 20 October 2016 – Last day on which submissions may be made through melekyatirimplatformu-dt.teb.com.tr/tr/teb-fintech-future-four
- 4 November 2016 – Three finalists will be selected from each of the four project categories and feedback will be provided.
- 18 November 2016 – The twelve finalists will meet with and make their presentations to the selection committee.
- 2 December 2016 – One finalist team will be selected in each of the four categories. Each team will sign an agreement and will be paid seed capital.
- 2 December 2016 – 2 March 2017 – Product development and project acceleration stage.
- 2 March 2017 – Demo/alpha product assessment.
- 16 March 2017 – Finalisation of the bank’s purchase and investors’ buy-in decisions and signature of contracts followed by corporate incubation graduation ceremony.
