Applications are now open for financial tech start-ups to apply to an accelerator program backed by a group of 10 leading financial institutions & Accenture.
About the program
Companies selected in the Asia-Pacific-wide competitive search for the region’s top financial technology innovators will participate in the FinTech Innovation Lab Asia-Pacific, a 12-week program that helps early- and growth-stage financial technology innovators accelerate product development and gain exposure to top-level financial industry executives.
Who can participate
Entrepreneurs developing potentially game-changing technologies for financial services – particularly in the areas of Big Data & analytics, mobile & wireless, payments, risk management, security, compliance and social media and collaboration technologies – are invited to apply.
Applications will be accepted until July 31, 2014.
More about “Fintech Innovation Lab Asia-Pacific”
The FinTech Innovation Lab Asia-Pacific is modeled on a similar program that was co-founded by Accenture and the Partnership Fund for New York City in 2010. The New York Lab’s 18 alumni companies have raised more than $76 million in venture financing and created approximately 150 jobs after participating in the program; one participant was acquired for $175 million.
In 2012, the FinTech Innovation Lab London was launched by Accenture and a dozen major banks in London, with support from the city’s mayor and other government bodies. The majority of the participants in the inaugural program have gone on to sign deals with banks and collectively they have raised $10 million in new financing since participating.
According to a recent report by Accenture, Global investment in fintech ventures could more than double to $8 billion by 2018. Global investment in fintech ventures has more than tripled from $928 million in 2008 to $2.97 billion in 2013. During the same period, investment in Asia-Pacific fintech ventures has increased nearly fourfold to $104 million in 2013.
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