August 29, 2016
As the FinTech ecosystem grows in complexity and enrichment with technological advancements, banks and corporations rush to seize the opportunity to harvest the best solutions available. Innovation hunters have been looking for opportunities in different ways, one of which is to set an accelerator/incubator, innovation lab or some sort of a startup program. Let’s look at some of the interesting FinTech-focused programs operating around the world:
Flat6Labs, in cooperation with Barclays Bank Egypt, has opened the doors for participation in its one-of-a-kind 1864 Accelerator Program launched for the first time in the Egyptian market. 1864 Accelerator aims to qualify a new generation of entrepreneurs in Egypt through the adoption of creative ideas that can open up new opportunities in financial technology.
The 3D FinTech Challenge is a seven-week, immersive accelerator program designed to empower and accelerate technological innovation within financial services. It is a key element of Dassault Systèmes’ drive to bring accelerated technological, customer-centric innovation to the financial services industry. Dassault Systèmes and Deutsche Börse do not take equity from the startups. Senior executives from Dassault Systèmes’ and leading figures from financial services provide on-going mentoring throughout the program whilst master classes are given by domain experts.
500 Startups is one of the world’s leading global venture capital seed funds and startup accelerators managing $200 million in assets, having invested in 1300+ technology startups. In January, the accelerator launched a FinTech-exclusive batch comprised of eight companies. 500 Startups has actively been investing in financial services startups such as Credit Karma, WePay, Simple (acquired by BBVA), ReadyForZero, FeeFighters (acquired by Groupon), Recurly, CoinPip, etc. They have also invested in eight bitcoin-related startups to date and they plan to invest in another 10–20 per year going forward.
Anthemis Foundry is a design-focused incubator of the Anthemis Group, an investment and advisory firm in the financial technology space. The incubator believes in focusing on some chosen projects at one time rather than selecting batches of startups with a fixed schedule. Some of its portfolio companies are Atom, Azimo, Betterment, Currency Cloud, Fidor Bank, Moven, etc.
In 2015, Worldpay US made a $1 million gift to the Georgia Institute of Technology to create a Financial Technology (FinTech) Program at the Advanced Technology Development Center (ATDC). This initiative creates a unique program between a non-profit, university-based incubator and a major financial services company. The ATDC FinTech Program powered by Worldpay US is focused on building and growing companies in the state of Georgia. ATDC FinTech Program operates with goals to make Georgia the capital of FinTech startups, screen and accelerate a dedicated FinTech pipeline & accelerate innovation by bringing together startups, corporations, and investors.
Launched in 2013, the Axel Springer Plug and Play Accelerator is a Berlin-based accelerator looking for trailblazing digital entrepreneurs. The accelerator claims to provide global opportunities from day one through their international network in Europe and Silicon Valley. Three times a year, they run a three-month-long program in which star ...