REDWOOD CITY, Calif., Sept. 18, 2019 /PRNewswire/ -- FinTech Consortium USA (FTC) today announced the launch of the first Silicon FinTech Bay (SFB) Accelerator Program, focused on early stage startups developing innovative solutions for the fintech sector. The program is open to startup applicants from across the United States and will take place at Silicon FinTech Bay for three months.
Application intake is open now through Oct. 18, 2019 and qualifying applicants will be selected by Oct. 25, 2019. The Accelerator launches on Nov. 4, 2019 and participating startups will graduate from the three-month program on Feb. 7, 2020.
Early stage startups are invited to apply. Startups who apply should have:
A fintech product/solution that is, at minimum, at the developed prototype or early proof of concept stage
Interest is in a broad spectrum of fintech including but not limited to crypto-currencies, blockchain, payments, digital and open banking, insurtech, regtech, financial inclusion and wealth tech
Innovative technology with a clear product development and execution roadmap
Existing business plan and pitch deck
Strong founder(s) and management team with a balance of technical and business experience
Ability to relocate to Redwood City, Calif. for the duration of the program (Remote/online participation will be considered on a case-by-case basis. Some selective travel to Redwood City may be required.)
"With roots down, this is the next exciting step we'll contribute to the ecosystem," said Rick Frisbie, CEO of Silicon FinTech Bay. "Accelerator participants will have so much access, which is a gamechanger. 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."
Program graduates may also be offered a one-month residency at one of FinTech Consortium's other global bays, located in Bahrain, Detroit or Singapore.
Included in the program is access to the FinTech Consortium's corporate partner network that would allow testing and validation of solutions within financial institutions within real sandbox environments. In addition to the program providing business and organizational planning tools which are critical to master prior to scaling. The tools include legal organizational topics, business planning, creating financial statements and projections, branding, marketing and PR, go-to-market analysis and approach and management and governance insight.