BNP Paribas, together with Plug and Play, selects Station F to host new season of their Fintech and Insurtech startup program
09.05.2017 | Entrepreneurship, Press release
As part of the Group’s overall strategy of open innovation and cooperation with tech startups, BNP Paribas is partnering with Station F, the world’s largest startup campus, established in Paris’ 13th district, to host its startup accelerator program in conjunction with Plug and Play.
The partnership agreement will provide a first-rate venue for BNP Paribas and Plug and Play – the Silicon Valley-based global innovation platform that brings together startups, major corporations and investors – to host startups taking part in their joint Fintech and Insurtech accelerator program. In addition to the exclusive range of services provided by the program – personal hand-holding, coaching, business contacts and fund-raising opportunities – selected startups will now also be able to take advantage of the dynamic, stimulating ecosystem offered by Station F. They will join some 1,000 other startups expected to be accommodated on the campus in the longer term.
“Strengthening our positioning in the startup ecosystem is an illustration of our transformation process towards building the bank of the future. Our partnership with Plug and Play is an important new step and we’re delighted that startups on our program will very shortly be installed at Station F.,” declared BNP Paribas’ Deputy Chief Operating Officer Jacques d’Estais.
“We are incredibly excited to build our European Fintech and Insurtech innovation platform with BNP Paribas in Station F” adds Saeed Amidi founder and CEO of Plug and Play. “I believe it will become the hot spot of all startups and all corporate innovation, not only for Paris and France, but for Europe as a whole. It will be a great pleasure to connect Station F to Plug and Play’s HQ in Silicon Valley where we have been helping, accelerating and investing in startups for more than 10 years."
Under the new partnership, BNP Paribas will also become a reference bank for the startups and digital workers at Station F. Since 2012, BNP Paribas has provided startups with a special offer geared to the innovation sectors. Depending on their needs, these young companies can draw on a comprehensive range of products and services covering requirements ranging from day-to-day financial management needs all the way through to corporate finance arrangements provided by Group subsidiaries specialising in IPOs and equity capital deals.
Marie Claire Capobianco, Head of BNP Paribas French Retail Banking and BNP Paribas Group Executive Committee member, underlined: ‟We currently provide over 2,000 company clients with tailored support under this specialised startup-oriented approach, which is unique in France. BNP Paribas is also able to offer the Hello bank! service range to the digital workers at Station F. So all the companies at Station F, plus their employees, will have immediate access to a specialised banking partner.”
Station F Director Roxanne Varza stated: “Before entering into this partnership, we looked at a number of Fintech and Insurtech players. We regard the BNP Paribas/Plug and Play pairing as a really outstanding duo and we look forward to the launch of their program at Station F.”
BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance.
In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.
BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Innovation according to BNP Paribas, the bank for a changing world
At BNP Paribas, to be innovative means creating a new type of banking relationship and inventing the Bank of the Future – a bank that is both physical and digital, combining the best of both worlds, including new ways of interacting provided by the social networks and new services geared to mobile channels, the digital transformation and process-simplification. At BNP Paribas, to be innovative also means anticipating the changes that are affecting our customers and turning those changes into opportunities. BNP Paribas is determined to draw on collective intelligence – benefiting from external resources by building products and services in conjunction with our customers, and forging partnerships with startups and other innovative companies; as well as calling on our own in-house creativity. Proof of this creativity is to be found in the results of our Innovation Awards, which highlight innovative initiatives devised by Group staff, and also in the work of L’Atelier BNP Paribas. With offices in Paris, San Francisco and Shanghai, a vison of the future and a comprehensive understanding of the digital economy, L'Atelier BNP Paribas is strategically placed to help both BNP Paribas Group businesses and clients to carry out their digital transformation through the consulting activities and acceleration programmes it provides.