Global range of FINTECH accelerators

In the previous materials of the cycle of articles devoted to the launch and development of FINTECH startups, experts of the processing company PayOnline listed 10 industry trends , which it is useful to know for the fununder of any FINTECh project, disassembled 5 principles that every founder of a technological startup needs to be aware of, as well as overview of the world fintech hubs and the existing ecosystems within them.

Continuing the cycle of articles devoted to the development of FINTECH start-ups, we, at PayOnline, decided to make for you a selection of international and Russian FINTECH-accelerators, the programs of which are able to help your project to reach a qualitatively new level and develop on a global scale.

According to some estimates, the volume of investment in the FINTECH industry will increase by more than 2 times by 2018. At the same time, the number of acceleration programs will increase. Their main task is to provide entrepreneurs with the necessary resources to translate their ideas into reality. Each of the acceleration platforms defines for startups the timeframe, the composition of participants, the mentoring system, provides financial and technological support.

Release 1. 10 trends in the world of fintech, which is useful for startups to know
Release 2. 5 principles about which it is important to know to every founder of a technology startup.
Issue 3. Excursion to the world finteh hubs
Release 4. The global range of fintech accelerators
Issue 5. Russian and foreign platforms for attracting collective funding
')

First of all, I would like to dwell on Russian Fintech accelerators:

The acceleration program of the Startup Academy Skolkovo provides project teams with a set of tools that stimulate the development of an existing project or are designed to start a new business. The program consists of 9 modules and is designed for 11 weeks.

Projects participating in the Federal Accelerator programs of GenerationS technology startups undergo multi-stage expertise and are then given the opportunity to contact corporations, venture capital investors and experts. GenerationS also collaborates with corporations gaining access to advanced technologies, as well as investors looking for promising business projects.

Specialized fintech accelerator Future Fintech provides projects with the support of experienced experts. Fintech projects that have undergone the Future Fintech acceleration program get the opportunity to test their products and services in the framework of cooperation with banks, telecommunications and insurance companies.

QIWI Universe , an acceleration program of the QIWI group, aims to support 3 segments at once: young startups, medium and large businesses. Depending on the business objectives, participants in the QIWI Universe program can receive both funding and promotion, and strategic partnerships.

AlfaCamp’s acceleration program at AlfaCamp is focused on selection and long-term development of projects. During the event, the founders of startups will have the opportunity to obtain the necessary knowledge from leading market experts. Alfa-Bank provides members of the acceleration program with access to its API, Microsoft BizSpark and free Microsoft Azure cloud resources. The finalists are waited by the possibility of a strategic partnership with Alfa-Bank, Visa, Microsoft, as well as financial support from the FRIA accelerator.

Last month, it also became known that Sberbank and IIDF launched a joint acceleration program aimed at finding and supporting fintech startups specializing in big data analysis, development of services and financial advisors, loyalty programs, and optimization of business processes. financial organizations. An important distinctive feature of the acceleration program was the specific acceleration policy of Sberbank, under which at first the projects will receive only expert support from the bank and at the same time a penny of investments. Sberbank will provide financial support only to projects that were recognized as the best after the acceleration program.

And at the end of June, news appeared in the media about a joint project of Sberbank, the Russian Academy of National Economy and the State Service under the President of Russia (RANEPA) - the master's program in the specialty “financial technologies”.

Foreign organizations

Below is a list of accelerators focused on fintech projects that are at an early stage of development.

Founder Institute (FI) is an incubator designed for young FINTECH startups, which has established its presence in 45 countries.

Startup Weekend is a series of 54-hour events organized with the support of Google for Entrepreneurs. This startup-intensive begins on Friday evening and ends with a Sunday demonstration and presentation of projects. This format provides collaborative collaboration between like-minded people and makes it easier to get feedback. Currently, more than 1,500 events have been held, covering more than 13,000 startups in 135 countries around the world.

The six-month start-up incubator for Ynext , organized by the American data aggregator Yodlee, allows technology start-ups to access the Yodlee platform, enlist its support, take part in the Silicon Valley bootcamp, and present their project to investors as part of the demo day.

Eastern Lab s platform for financial services innovations enables project teams to build their start-ups, and after successfully completing the acceleration program, budding from Eastern Labs and continue their work as an independent unit.

Anthemis Foundry is a development-oriented incubator, part of the Anthemis group, which specializes in investment and consulting services in the field of fintech. Incubator focuses on a few select projects, instead of whole batches of startups.

Israeli Leumi Bank has entered into a strategic partnership with the Elevator Foundation, whose fintech projects will work directly with the Leumi management in the process of building their solutions. This partnership will also allow startups to use the bank as an online beta version.

Supported SWIFT Innotribe was launched in 2009. Accelerator organizes start-up competitions every year and covers such economic regions as EMEA, Americas and APAC.

Tech City UK is a digital technology business platform created in the UK. Tech City UK provides support to start-ups, well-established businesses and promising entrepreneurs. The platform includes the Digital Business Academy program, created in partnership with the Cambridge Judge Business School, University College London and the Founder Centric training center.

The Icehouse New Zealand organization's incubation programs include special events, seminars and programs that enable SMEs and start-ups to grow their business in accordance with international standards.

The acceleration program of the financial group Barclays is a program consisting of 13 weeks and organized in partnership with the global start-up ecosystem Techstars. Initially, the program was launched in London, but now it is also being held in New York.

Citibank launched the first acceleration program in 2013 in Tel Aviv. The four-month “marathon” was held 3 times. To date, 333 startups have participated in this event. In December 2014, Citi Ventures expanded its acceleration fintech program to the USA, Singapore, Germany and Spain. In addition, Citi launched a virtual project “ Citi Mobile Challenge ”, which combines a hackathon and an incubation program aimed at the Asia-Pacific region.

The startup accelerator Wells Fargo is a six-month program, held 2 times a year.

Dassault Systèmes practices 3D FinTech Challenge events in partnership with Deutsche Börse and Invest Northern Ireland. 3D FinTech Challenge is a seven-week deep acceleration program.

The FinTech Innovation Lab offers participating project teams a mentoring system for 12 weeks and conducts its events in New York, London, Dublin and Hong Kong. The program is sponsored by Accenture, as well as the New York Partnership Fund.

QC FinTech Lab conducts a 12-week intensive acceleration program with the support of mentors from Bank of America, Wells Fargo banking company, Experian group of companies and others.

Techstars conducts acceleration programs based on local features, as well as the functional specificity of projects. Sponsors include SAP, TaylorWessing, Lowe's, Todd Walsh, TriNet, Baird, Kurtz Fargo LLP, Bryan Cave, Kendall Koenig & Oelsner PC, Foley & Ladner LLP, CBRE, Pritzker Group, Hyde Park Venture Partners, Lakewest Venture Partners, Fried Frank Technology, Google Cloud Platform, Orrick, Foley Hoag LLP and others.

Startupbootcamp runs acceleration programs for projects from many different areas. Fintech-accelerator belongs to one of them and takes place in London and Singapore for 3 months.

Europe's largest accelerator is Level39 , whose programs are designed for businesses operating in finance, retail, security and cities of the future. Level39 was launched in 2012 with the aim of becoming the largest fintech accelerator in Europe. On the basis of Level39, UBS created an innovative laboratory focused on blockchain and fintech innovations.

Y Combinator Seed Investment Fund specializes in investments in selected startups. During the year, Y Combinator conducts 2 cycles: from January to March and from June to August. The three-day event ends with a demo day when the teams present their projects to investors.

In case you decide to develop a fintech project exclusively in Russia , Oleg Anisimov, a member of the board of directors of My Book’s Internet accounting, expressed a rather interesting opinion to Rusbase. According to him, the Russian Fintech project can go one of four ways:

• Sell ​​the jar. An important criterion here is the presence of a FINTECH startup really valuable technology for the bank.
• Find buyers of their services from the players of the banking market. Such services may include, for example, analyzing the preferences of bank customers, organizing loyalty programs between banks and retail customers, exporting data from banks for online scoring, and countering fraud.
• Solve business problems of a single bank. For example, Rocketbank, working in the interests of Otkritie Bank.
• Get support from the bank. A typical example of this is the above-mentioned acceleration programs organized by banks and financial companies.

The accelerated infrastructure, partially formed and continuing to develop around the world, indicates that any fintech project that has the potential and is capable of solving problems of its users in a quality manner is available all the necessary tools for growth throughout the world.

Continue to follow the materials that are specially prepared for you by PayOnline specialists, and stay up to date with global trends in the development of FINTECH start-ups.