Financial knowledge is key to unlocking a startup's full potential

The FInsight program, supported by OTP Bank Serbia, is jointly implemented in the organization of the EPICentar and Innovation Centre Banja Luka, and aims to ensure the growth and sustainability of startups through financial literacy and training for making informed and smart decisions.The program was developed within the EBRD Star Venture program, jointly financed by Luxembourg through the EBRD Small Business Impact Fund and the EU - Western Balkans Enterprise Development & Innovation Facility (EDIF).

The goal of the FInsight program is to support entrepreneurs in acquiring knowledge and skills in the field of financial literacy, to become financially stable and acquire important prerequisites for further business growth and development.
A significant part of startups fail due to financial problems, putting all their efforts into developing a great innovative business solution, without really understanding its true value and without realizing the importance of smart investment. Startups often don't speak the language of investors, they don't know how to make a sound financial plan and they don't understand their finances at all, and the risks and the importance of risk management, which all together, almost inevitably, leads to failure.
That's why startups must equip themselves with the necessary knowledge and skills because their vision deserves more than just passion and desire - it deserves precision and financial acumen.
FInsight provides exactly that.

  • Proper cash flow management and understanding the financial implications of decisions ensure sustainability and avoid unnecessary financial crises.
  • Accurate budgeting and forecasting lead to better and smarter allocation of resources.
  • Startups that understand their financing have a better negotiating position and communicate their financial position more effectively, building credibility among stakeholders.
  • Proactive risk management saves startups from financial failure.
  • An adequate understanding of finances helps to avoid fines, legal problems, and potential reputational damage.

FInsight - powered by OTP, is an online, interactive mentoring program, which will equip selected startups from Serbia and Bosnia and Herzegovina with the necessary financial knowledge, skills, and tools, and prepare them for effective decision-making that will help the further development of innovative business opportunities.

Program information

  • Startups from the territory of Serbia and Bosnia and Herzegovina registered in the previous four years have the right to participate.
  • Up to 20 selected startups will be admitted to the program.
  • We invite startups that develop personalized and innovative solutions in the domain of data, digital transformation, and operational efficiency (automation and efficiency, process mining, digitalization), as well as startups that are focused on other industrial areas, to apply.
  • Important criteria for entering the program refer to the business model - B2B or B2B2C as well as the existence of a developed MVP/prototype.
  • The second generation of the program starts in the fall of 2024!.
  • In addition to regular sessions, participants will have the opportunity to schedule 1-on-1 mentoring consultations with experienced experts in the field of finance.
  • The program will be accompanied by additional networking events.
  • Applications are open until September 10, and all applicants will be notified of the results by September 12.

What does the FInsight bring?

  • Financial literacy and precision result in smart decision-making, based on data, not just gut feeling.
  • Understanding the true value of assets and tracking all costs is the first step in avoiding startup failure.
  • Speaking the investor's language is one of the key factors for putting yourself in a good negotiating position.
  • Understanding budgeting, forecasting, and financial analysis ensures smart startup investing, instead of just spending.
  • Every business decision carries certain risks - financial knowledge helps to identify, quantify, and manage risks.
  • Effective financial planning ensures that sustainability - growth must not exceed the available resources.
  • Financial literacy means being prepared for global development and global markets.
  • Knowing and understanding your own finances helps build credibility among various stakeholders.

Apply for participation in the FInsight program!

Basic financial terms and concepts, financial planning, budgeting, reporting, types of expenses, sales channels, financial law, payments, sources of financing, and financing plan - you will master all this within a unique program for startups that take their business seriously!