January 9, 2017
Little Rock, Ark, Dec. 08, 2016 – The Venture Center today in conjunction with FIS announced that it is accepting applications for the second portfolio of its globally competitive financial technology accelerator program. Applications for the VC FinTech Accelerator are currently open and close February 5, 2017, at 11:59 PM CT.
Entrepreneurs who are poised to disrupt financial services should apply. In addition to working with early stage companies in core banking, payments, mobile, and fraud & security, VC FinTech is interested in supporting and potentially partnering with startups leveraging emerging technologies like cognitive computing, neural networks, enterprise blockchain, and the Internet-of-Things (IoT) in financial services.
The VC FinTech Accelerator is a 12-week rigorous program designed to accelerate the growth of early-stage startups. The highly selective program will admit 10 leading startups poised to challenge the status quo in the financial services sector. The program culminates with VC FinTech Demo Day, which will bring investors and financial services executives to Central Arkansas.
Through a fund established and directed by The Venture Center, portfolio companies receive an initial $50,000 investment. In addition, the investment fund will invest up to $100,000-300,000 in additional capital into top performing companies at the end of the program.
Entrepreneurs accepted to VC FinTech gain access to insights, connections and coaching from FIS Global, a Fortune 500 financial services technology company that serves more than 20,000 clients in over 130 countries. Founders have the opportunity to not only work with and receive advice from FIS leaders, but they also have the opportunity to pitch their businesses to a global FinTech community.
Six portfolio companies from the 2016 Accelerator entered the FIS HiPo Network. HiPo, short for high potential, is a collection of firms that have demonstrated substantial promise in the development of new tools and technologies that deliver purposeful innovation for FIS Clients around the world.
FIS has a strong track record in innovation that allows our clients to achieve their objectives while empowering them with the tools necessary to stay competitive in the rapidly-changing financial technology industry, said Rob Lee, chief product officer, Banking and Payments, FIS. This collaboration with The Venture Center is an excellent opportunity to promote innovation earlier in the life cycle. Little Rock is a natural fit for this initiative given FIS’ history and large employee presence in the market.
Arkansas is proud to partner with FIS to continue the VC FinTech Accelerator in 2017. This year’s program brought some of the world’s most exciting financial services startups and promising tech talent to our state and we are excited to see that relationship continue. It is great to see companies like FIS investing in innovation in Arkansas and we are excited to partner with them to increase the tech footprint in our state, commented Asa Hutchinson, Governor of Arkansas.
As the birthplace of early FinTech innovators like Systematics (now FIS), Arkansas Systems (now Euronet Worldwide), ABC Financial, Stephens Inc., Mainstream Technologies, and Acxiom and the home of the only FinTech Accelerator empowered by the world’s leading financial technology company, Central Arkansas is the place for startups seeking to disrupt the financial services industry. Period.
Startups innovating in analytics, cognitive computing, cybersecurity, bank back-office, investment management, wearables, wallets [among others] should apply for this highly competitive and unique program. There exists no other place on earth where a founding team can gain access to leaders within the largest financial software company in the world, said Lee Watson, President & CEO of The Venture Center.
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