FinTech Wales welcomes applications for its third accelerator programme

FinTech Wales welcomes applications for its third accelerator programme
FinTech Wales welcomes applications for its third accelerator programme

Innovative startups from banking, insurance, financial services and fintech are invited to apply for the third season of FinTech Wales accelerator program.

FinTech Wales, the not-for-profit membership organization for the fintech industry in Wales, has opened applications for the third cohort of the Fintech Wales Foundry scheme.

The 12-week, no equity accelerator program, partnered with Cardiff Capital Region (CCR), Confused.com and The Principality of Building Society provides mentorship and support to help incubate, accelerate and scale start-up organizations within the Welsh ecosystem and beyond. The application deadline is 19 August 2022.

In its first two programmes, the foundry has supported 16 companies to raise more than £20m of investment. In the last round of the programme, half of the businesses that initially took part were based in England, Poland and Portugal. After graduation, however, all eight companies have a presence in Wales.

Program direction

Contractor Neil Cocker has been announced as program leader for the second time, after leading the second batch, which graduated in May this year. Cocker has previously founded three technology companies and also created Cardiff Start, which has supported entrepreneurs and startups for the past decade.

Cocker says: “I am absolutely delighted to be back as Program Director of FinTech Wales’ foundry programme. It’s incredibly exciting to work with entrepreneurs to nurture them to the next stage of their growth, and I can’t wait to see which startups apply for season three.

“For our third cohort, we are looking for fintech startup founders from Wales and around the world, who are developing an early-stage business and want to validate it, with a view to raising investment and going to market. We are perfectly positioned to provide the support startups need to validate their business, tell their stories and raise investment, ultimately scaling their business globally.

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Foundry success

Throughout the programme, Foundry introduces entrepreneurs to leading Welsh-based businesses and shows them the value of developing a company in Wales.

Sarah Williams-Gardener, FinTech Wales chief executive, said: “The foundry is a key element of our strategy to establish Wales as a globally recognized fintech hub of excellence. Our first and second batch of businesses have collectively raised over £20m of investment and most importantly all, these businesses now have a presence in Wales, bringing jobs, innovation and ultimately a boost to our economy.

“We couldn’t be more excited about what we’re creating through the foundry, and having Neil back on board is fantastic. His experience in creating and scaling businesses is second to none, and we couldn’t ask for a better program manager.”

Earlier this year, Cardiff Capital Region (CCR) announced a five-year £1.6m investment in FinTech Wales, which will be spread over a five-year partnership between CCR and FinTech Wales, and will see the two organizations work closely together to deliver on CCR’s commitment to establishing Wales as a leading UK FinTech sector.

Successful applicants to the third cohort of the Fintech Wales Foundry scheme will be announced in September.

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