It is hard to succeed in business, but even harder to do it all alone. When Vacuumlabs was founded, we benefited tremendously from the ecosystem and supportive network we had around us. To best capture opportunities, both startups and corporates need access to strategic guidance, legal professionals, a secure environment to test and experiment, an introduction to partners, and so much more. In that spirit, we have now forged an official partnership with both the Slovak Fintech Association and Mastercard to create the very first FinTech Hub Slovakia. In fact, qualifying businesses can already apply today, to become a member and join our ranks.

As a company with a well-established track record in supporting brands that accelerate change in global financial services and make up this ecosystem, we did not hesitate to forge a partnership with the Slovak Fintech Association and Mastercard, and get the Fintech Hub Slovakia off the ground. Based in Bratislava, this is the first FinTech Hub designed to support innovation within the CEE region and demonstrates the serious intention of all partners to build Slovakia into the next global leader in financial technology.

The Hub was launched in December 2020, and is now fully operational. Inspired by the successful regulatory sandboxes in countries like Great Britain and Singapore, we are in the comfortable position to choose the best of similarly functioning platforms, and combine them under one roof. We approached the Hub from a vision of openness and accessibility. Because of that, the application process is now open and we would love to encourage you to join us in bolstering the level of digital finance innovation in Slovakia and across this region.

Our overarching goal is to support innovation and digitization in the financial sector in the CEE region. The Hub is looking to bring companies the opportunity to test the validity of their solutions in a secure environment. All the resources needed can be provided, along with expert help and advice. Furthermore, the Hub can provide much-needed support to help members obtain the necessary licenses in the sector.

One of the most interesting and sought-after benefits of the Hub, is the location in Slovakia itself. As Matej Ftáčnik, CXO of Vacuumlabs, explains:

“We are members of the European Union, as well as the North Atlantic Alliance. We belong to the Schengen area, and have the Euro as our currency, which is a great advantage over other local Visegrad Four players. The proximity of Vienna is also a great benefit in terms of arrivals and departures. And last but not least, Slovakia has a large number of talented engineers and technologists that companies need to grow and accelerate their successes.”

Curious about this new and ambitious initiative? Continue reading to find out what it takes to become a member:

Who can apply to become a member?

Membership is open to any type of company, whether a start-up, scale-up, or already well-established company. The main purpose of the application process is to select projects or concepts that have the greatest potential to provide a positive impact on the Slovak Fintech ecosystem. Member companies must:

• Be innovative — offer an innovative service, technology, or business model
• Provide clear benefits — offer faster, cheaper, or significantly more user-friendly services for clients.
• Have local intention — the new member company is intending to apply the innovation within either the Slovak or other Visegrad Four markets.

What do members get in return?

Our members will be able to use the Hub platform in three main areas — technological support, legal support, and mentoring. This includes:

• Priority testing access — Hub members get priority access to multiple leading companies in their sector, as well as getting their own proprietary testing environment.
• Faster go-to-market strategy — thanks to the Hub, members are able to build faster and more efficiently, and successfully create strategies for go-to-market and growth. 
• Mentoring support — each selected participant will get a designated mentor who will provide hands-on assistance and oversee the progress
• Physical workspace — members can access state-of-the-art workspace for innovative startups in the heart of Bratislava where quality networking, idea-sharing, and magic happen every day. Visit The Spot to get a taste of what we mean.

Applications are open now

Are you ready to apply? Go to www.fintechhub.sk to submit your application. We can’t wait to meet you on your journey to create products that empower the customer in Slovakia and beyond!