Financial results

2017.06.06

Young innovative companies that are conquering the market!

  • PKO Bank Polski and MIT Enterprise Forum Poland have selected 8 technology start-ups to undergo acceleration in a program based on one of the world's best technology universities – the Massachusetts Institute of Technology.
  • The winning teams will gain not only a unique opportunity to acquire knowledge and experience, but also finance to develop their businesses. They will also be able to connect with the world's largest technology companies.
  • The aim of the program is to support the development of the start-up environment and to strengthen the Polish innovation ecosystem.

We now know the winners of the MIT Enterprise Forum Poland accelerator program, whose main partner is PKO Bank Polski, aimed at technology start-ups. Up to 300 start-ups registered to take part in the project, including those from the financial, energy, pharmaceutical and raw materials sectors. Twenty-three of them, selected by elimination, underwent a three-month acceleration process. The eight best will take part in a week-long Bootcamp at the Massachusetts Institute of Technology in Boston. The finalists included: 2040.io, Innovalab, Medical Simulation Technologies, Nu Delta, Predictail, SensoriumLab, Vortex Oil and Waywer.

For young, innovative companies, the prize of taking part in the program is a great opportunity. Not only will they have the opportunity to undergo acceleration based on the Massachusetts Institute of Technology model, but also, thanks to the Scale UP program, they will receive financing for their development  – said Grzegorz Pawlicki, director of the Innovation Office at PKO Bank Polski.

Support for start-ups with high technological potential
The aim of the program is to support young, innovative Polish companies that are developing unique technologies by accelerating the commercialisation of their products and services. The MIT EF accelerator program is open both to existing Polish technology companies and teams that only have an idea for a new business. Those qualified for the start-up program have the opportunity to participate in workshops to help create or review business models, learn how to make investor presentations and obtain ongoing support from an international team of mentors and experienced experts.

Finalists of the second edition of the accelerator program
The Nu Delta team is developing a solution for the instant, automatic recognition of invoice information using a phone camera. Waywer has developed a multi-media communication platform that enables the creation of sales processes at various stages of customer collaboration. The 2040.io team impressed the jury with its idea of ​​a smart sales assistant to replace the traditional CRM system. InnovaLab has developed material markers to prevent the counterfeiting of original products.

Among the winning start-ups are solutions for the pharmaceutical, energy and raw materials sectors. SensoriumLab has implemented the telemonitoring of patients at risk of pleural effusion, the early detection of which is crucial in the management of the condition. Medical Simulation Technologies has created the world's first transoesophageal echocardiography simulator based on real-time tomography data. The start-up Predictail is a solution for industry that allows faults in large machines to be predicted using Big Data analysis. The Vortex Oil Engineering team presented a solution that improves the efficiency of oil extraction by mechanically changing the properties of technical water and reducing its consumption.

The bank supports the development of the start-up environment in Poland
PKO Bank Polski is once again supporting the ideas of young entrepreneurs, whose main capital is their innovation and unconventional way of thinking. At the Impact'17 congress in Krakow, PKO Bank Polski and the MassChallenge accelerator - one of the biggest accelerators for technological startups in the world -  announced their partnership. The launch of the Bridge to MassChallenge accelerator program was announced, the first step in Poland's entry into the MassChallenge brand. In August last year, the bank also took over the main patronage of the fintech Startup Weekend Warsaw event, and since 2015 it has been working with D-RAFT on finding unique technologies. The fintech part of the project is currently being continued in the new corporate start-up center – The Heart Warsaw.

The bank is also open to implementing unconventional solutions proposed by young scientists and entrepreneurs in its own systems. At the beginning of the year, we were the first Polish financial institution to invest in a fintech start-up. By purchasing ZenCard, we showed that we are ready to implement innovative solutions and we sent investors a clear signal that it is worth investing in prospective Polish start-ups because their best ideas can be successfully adopted by corporations operating in Poland.

***

PKO Bank Polski is the indisputable leader in the Polish banking sector. In 2016, according to the consolidated data, its net profit amounted to PLN 2.87 billion, whereas the balance sheet sum reached PLN 285.6 billion. The bank is the basic supplier of financial services for all client segments and has highest share in the deposit market (17.3%) and loans (17.8%), including mortgage loans; every third mortgage loan is granted by PKO Bank Polski and PKO Bank Hipoteczny. Having 7.9 million pay cards, the Bank is the largest issuer of debit and credit cards in Poland with a share in the market on the level of 22%. Thanks to the development of digital tools, including the IKO app, which was already activated over million times, PKO Bank Polski has become the most mobile bank in Poland. The Bank’s strong position is reinforced by companies from the Capital Group. Dom Maklerski (Brokerage House) of PKO Bank Polski is the leader with respect to the number and the value of IPO and SPO transactions at the capital market. After the take-over of Raiffeisen-Leasing Polska, the Capital Group became a leader at the lease market, with a share on the level of 13%. Efficient implementation of growth strategy made PKO Bank Polski the highest positioned domestic financial company in the Forbes Global 2000 ranking, including largest listed companies in the world. In 2016, The Banker monthly magazine that belongs to Financial Times, awarded PKO Bank Polski with the “Bank of the Year in Poland” prize for the third time.