FinTech Consortium Launches Accelerator Program

The first physical fintech-development center in North America is looking for promising startups.

FinTech Consortium’s Silicon FinTech Bay Accelerator Program, a three-month crash course designed to help fintech startups get up on their feet, is now accepting applications. Aspiring startups have until October 18 to send in applications. FinTech Consortium will announce who was chosen for the program on October 25.

Applicants attending the program between November 4, 2019 and February 7, 2020 will work within a sandbox environment where they’ll be able to test their solutions with FinTech Consortium’s partner network. Some might work for a full month at one of FinTech Consortium’s global offices in Detroit, Bahrain, or Singapore after completing the course.

The program is more than good advice and a pat on the back. Participants will have many state-of-the-art tools at their disposal to help with planning, creating financial projections, writing marketing and news releases, and analyzing their businesses. The accelerator program is intended to prepare small companies for scaling their business.

"Accelerator participants will have so much access, which is a game changer. The robust curriculum includes access to mentors with deep industry and technical experience, access to capital, and access to a wide global network of potential customers and investors, among other things," said Rick Frisbie, CEO of Silicon FinTech Bay.

Startups must meet certain requirements before applying. They must already have a prototype or proof-of-concept for their fintech solution. Their business plan and pitch need to be developed, with a technology roadmap in place. Finally, the startup needs to be able to relocate temporarily to Redwood City, California, so staff members can attend the program in person.

Signups are available through the Silicon FinTech Bay website.