BNP Paribas Personal Finance renews its commitment and becomes a co-founder of Startupbootcamp Cape Town
BNP Paribas Personal Finance is supporting Startupbootcamp’s first African programme
As part of its development strategy and its commitment to Open Innovation and social responsibility, BNP Paribas Personal Finance is supporting Startupbootcamp’s first African programme. A dozen start-ups will see their development accelerated during a three-month programme in Cape Town. This will be supported by RCS, BNP Paribas Personal Finance’s South African subsidiary, which, as the sponsor of the initiative, contributed to defining its scope. The call for applications placed the emphasis on searching for scalable technological solutions that can be applied to different financial services.
BNP Paribas Personal Finance underlines the cooperation with start-ups and its interest in the African continent as a whole
Represented in South Africa by its RCS subsidiary, acquired in 2014, BNP Paribas Personal Finance recently committed to supporting Startupbootcamp, one of the world’s leading start-up accelerators. This underlines the company’s keenness to cooperate with start-ups on Open Innovation and its interest in the African continent as a whole.
The company’s objective, which it shares with Startupbootcamp, is to support start-ups that take a disruptive and innovative approach to their development by putting them in touch with leading businesses, while giving both parties the opportunity to collaborate and contribute to the growth of Africa’s technological ecosystem. Startupbootcamp Cape Town is backed not only by BNP Paribas Personal Finance and its South African RCS subsidiary, but also by PwC, Old Mutual and Woolworth Financial Services.
The first integrated programme for Africa
The programme is seeking start-ups specializing in a wide range of areas, including blockchains, connected devices, payment solutions, e-commerce, alternative funding, data use, etc.
Of the 16 selection days planned up until the end of July, mainly in Africa, 12 have already taken place, generating applications from 300 start-ups. A total of around 400 start-ups are expected to apply for the programme’s 10-12 places. This inaugural integrated programme for Africa will provide them with €15,000 in funding, free office space, a convertible note, as well as access to finance and a network of industrial partners, investors and risk capital firms. This three-month programme will begin in Cape Town in September 2017.
Alain Van Groenendael, President of BNP Paribas Personal Finance, explains « Collaborating with start-ups and fintechs is key point to our transformation. Indeed, we have committed to a number of Open Innovation initiatives around the world. Like RCS, BNP Paribas Personal Finance is always on the lookout for innovative technologies that will improve its systems, its processes and the customer experience. We are particularly thrilled to be launching our partnership with Startupbootcamp in Cape Town, because the project caters for our desire to ramp up our cooperation with start-ups while confirming Africa’s potential in terms of innovation, something we have been convinced of for some time. This partnership follows the same dynamic created when the BNP Paribas Group joined forces with Plug and Play* to set up an international fintech & insurtech acceleration programme based in Paris ».
Benoît Cavelier, head of the SUN region (South Africa, United Kingdom and Northern Europe) adds: « We and RCS harbour strong growth and development ambitions in Africa. These will only be fulfilled if we undergo a digital transformation. Indeed, this will enable us not only to meet the needs of our customers, whose behaviour can shift as fast as technology can innovate, but also to offer them products and services that cater ever more closely for their current stage in life. We are overjoyed to be a partner in Africa’s very first programme in Cape Town, one of the continent’s most vibrant and creative areas ».
*A global Open Innovation platform based in Silicon Valley