BNP Paribas to become startup bank for Parisian version of Silicon Valley
10 May 2017 | 7623 views | 0
BNP Paribas is to locate its Plug and Play accelerator at Parisian startup campus Station F as part of a partnership programme that will see the bank become a first port of call to meet the financing needs of emerging technology firms at the site.
Established in Paris’ 13th district, Station F has the space to accommodate up to 1000 startups, providing a rich ecosystem for emerging tech firms to collaborate and share experiences.
BNP Paribas in partnership with Silicon Valley's Plug and Play is currently on the hunt for an initial batch of ten startups to join its three-month programme, which will be run twice yearly and include all the usual accelerator benefits of mentorship, business development and fundraising opportunities.
Saeed Amidi founder and CEO of Plug and Play, says of Station F: “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."
As well as locating its accelerator at the campus, BNP Paribas will also become a reference bank for the startups and digital workers at Station F, 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, says: ‟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.”