The startup accelerator movement continues to gain momentum. And now we are starting to see sector specific startup accelerators. Last year I posted about Startl, which focuses on education entrepreneurs.
And now we've got a Fintech focused accelerator program here in NYC. It is called The FinTech Innovation Lab and it is an annual program runby the New York City Investment Fund and Accenture. In the spirit of full disclosure, I am on the Board of the New York City Invesstment Fund, which is twelve year old investment fund operated by The Partnership For New York City.
The Fintech Innovation Lab is focused on "entrepreneurs and early stage companies that are developing cutting edge technology products targeted at financial services customers."
Here's the cool thing. The customers are participating in this program. The CTOs and CIOs of firms like Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley, State Street, and UBS will be participating in this program.
So not only do you get some funding but you also get mentoring and coaching by your potential customers. If you are an early stage Fintech entrepreneur, it sure seems like a fantastic opportunity.