In the ever-evolving landscape of technological advancements, the emergence of new fintechs equipped with cutting-edge AI, data, and machine learning capabilities has intensified the significance of accelerators and incubators. These entities play a crucial role in assisting aspiring fintechs to navigate the fiercely competitive market. In this article, we present the top ten fintech accelerators and incubators that are currently making waves in the industry.
10. Fin + Tech
Fin + Tech is an accelerator program in Italy that focuses on fintech and insurtech startups. It is part of CDP’s National Accelerators Network and was established through a collaboration between CDP Venture Capital SGR, Digital Magics, Startupbootcamp, Fintech District, Credem Group, and Nexi. The program selects 16 startups for an accelerator round, providing them with a comprehensive package of services and investments worth €300K (US$325k). Additionally, the startups receive support from the program’s team to help them stay competitive in the market.
9. Start Wise Guys
Startup Wise Guys, on the other hand, is a unique accelerator based in Estonia. It was founded in 2012 and is led by a team of tech enthusiasts, educators, and experts. The accelerator offers a 22-week program that guides fintech startup founders on their entrepreneurial journey. With over 35 diverse initiatives, Startup Wise Guys aims to nurture the global expansion aspirations of startups. They tap into a community of successful founders from more than 60 countries to provide support and guidance to the next generation of startups.
8. FIS Fintech Accelerator
FIS Fintech Accelerator is a renowned accelerator in the fintech market, operated by market-leading fintech company FIS. In collaboration with Venture Center, this accelerator offers a 12-week program for 10 startups at a time. Its main objective is to facilitate connections between young fintech companies and banks, subject matter experts, and financial service executives. Notable success stories from the FIS Fintech Accelerator include Bankifi, OakNorth, and Digital Onboarding, which recently secured a significant funding of US$58m.
7. Fintech Innovation Lab
The Fintech Innovation Lab has established itself as an impressive accelerator in the market, with three major hubs located in London, New York, and Hong Kong. Sponsored and managed by Accenture, in collaboration with the Partnership Fund for New York City, this lab provides a 12-week program to selected startups. The program aims to refine and test the startups’ value propositions with the support of leading financial services firms worldwide. The Fintech Innovation Lab plays a crucial role in helping startups build connections with influential decision-makers and gain visibility within the industry.
6. Revtech Labs
Revtech Labs, formerly known as QC Fintech, is an accelerator that focuses on driving success for founders in the fintech industry. Operating in the United States, this company specializes in connecting founders with strategic corporate partners and the venture capital industry. Revtech Labs caters to all players in the fintech industry, ranging from startups to large corporations, venture firms, and small community organizations. By plugging them into its global fintech ecosystem, the accelerator enables all participants to connect with relevant parties across the value chain.
5. The Barclays Yech Stars
The Barclays Tech Stars accelerator offers a unique opportunity for startups in both New York and London to engage in a 13-week development program. During this time, successful candidates collaborate with one another to enhance their solutions, while also receiving valuable guidance, support, and resources to grow their fintech businesses. At the end of the intensive program, participants showcase their startups to renowned investors during the Barclays Accelerator Demo Day. This program caters to a wide range of industries, including cybersecurity, AI, wealth management, investment banking, and cryptocurrency, ensuring a diverse and innovative cohort of companies.
4. 500 Startups
The 500 Startups accelerator operates globally, providing a fintech accelerator program that connects startups with experienced fintechs who have previously been in their position. Since its launch in 2010, 500 Startups has offered tailored programs that cater to the specific requirements of each startup and founder. The accelerator not only focuses on connecting startups with the right investors but also emphasizes the importance of marketing capabilities, company culture, startup accounting practices, product design, and more. At the end of the program, participants have the opportunity to present their business during a demo day, where they can attract interest from 500 Startups’ extensive network of investors.
3. Y Combinator
Y Combinator is a highly esteemed fintech accelerator that is widely recognized in the industry. Located in Silicon Valley, the tech hub of the world, Y Combinator has successfully facilitated funding for more than 4,000 startups, resulting in a combined valuation of US$600 billion. Every company accepted into the Y Combinator program receives a guaranteed standard investment of US$500,000. This accelerator has played a crucial role in funding some of the most prominent fintech companies in the market today, such as Stripe, Coinbase, Brex, Razorpay, and Groww.
Startupbootcamp is ranked second on our list of Top 10 accelerators. In addition to operating Fin + Tech, another accelerator on our list, the company runs two separate accelerators: the FinTech & DeFi programme and the FinTech & CyberSecurity programme. Both programmes offer intensive three-month courses aimed at facilitating rapid growth for participants. The FinTech & DeFi programme provides an initial investment of €110,000 (US$119,969) per startup, along with access to a global network of investors, VCs, and Angels. On the other hand, the FinTech & Cybersecurity programme offers an initial investment of €15,000 (US$16,300). Both programmes offer guided support and mentorship opportunities to participants.
With over 1,285 total investments, PlugAndPlay stands as our top contender. This organization is dedicated to advancing technology and serves as a bridge between established blue-chip corporations and startups on a global scale. Through three growth-focused initiatives, PlugAndPlay facilitates collaboration and progress. Its Corporate Innovation program fosters partnerships between large corporations and startups, while its extensive range of 60+ programs nurtures the growth of fintech in more than 35 cities worldwide. Additionally, PlugAndPlay’s venture capital arm invests in startups and fintech ventures across the globe, solidifying its role as a prominent player in fostering innovation and collaboration within the fintech ecosystem. By leveraging the innovation strategies of over 70 of the world’s largest financial institutions, PlugAndPlay supports participants by granting them access to a network of over 50,000 startups. This enables them to stay abreast of the latest industry trends, launch pilots, proof of concepts, and much more. SOURCE: Fintechmagazine.com. Article by By Louis Thompsett