Ever wondered how cutting-edge startups in the financial technology sector gain a competitive edge and thrive? The answer lies in fintech accelerators – where visionaries and disruptors converge to fast-track the future of finance. From fostering startups to facilitating industry breakthroughs, these accelerators play a pivotal role in shaping the future of finance.
Let’s take a closer look at these accelerators, and explore the best fintech accelerators in 2024 and beyond.
What are Fintech Accelerators?
A fintech accelerator refers to a specialized endeavor or program designed to offer assistance and resources to fintech startups in their early stages. The primary objective of such accelerators is to hasten the growth of these startups and enhance their likelihood of thriving in the highly competitive fintech industry. These accelerator programs typically have a fixed duration, lasting from three to six months. During this period, chosen startups receive support, guidance, funding, networking opportunities, and other crucial resources to aid in the development of their products, refinement of their business models, and expansion of their operations.
7 Best Fintech Accelerators in 2024
Here is a list of top fintech accelerators for your consideration in 2024.
1. Plug and Play Tech Center
Plug and Play Tech Center is at the forefront of fintech accelerators and incubators, having made a total of 1,285 investments to date. This renowned institution plays a vital role in fostering technological advancements by facilitating connections between startups and established corporations in the fintech industry.
It employs three distinct methods to propel the growth of fintech startups: the Corporate Innovation scheme, which drives innovation for large corporations through partnerships with startups; a network of over 60 accelerators operating in 35 cities worldwide; and its venture capital arm, making investments in startups and fintech companies across the globe.
Also Read: Getting Started with Quantum Computer: A Beginner’s Guide
2. Berkeley SkyDeck
SkyDeck was established as a result of a collaboration between UC Berkeley’s Haas School of Business, the College of Engineering, and the Office of the Vice Chancellor for Research. Its main objective is to provide a platform for startups to launch their ventures. By utilizing the available resources at UC Berkeley, SkyDeck has created a thriving ecosystem that encompasses a vast network of advisors, industry partners, and accredited experts.
So far, it has made 463 investments, and as part of its offerings, it provides a 24-week accelerator program for fintech startups. This program makes use of the SkyAmbassador Network, SkyDeck Strategy Council, and SkyDeck DEI Committee to equip these startups with the necessary tools to successfully introduce their services.
3. Forum Ventures
Forum Ventures is among the specialized fintech accelerators that focus on investing in SaaS founders, particularly those in the fintech industry. It has a strong presence in New York and has already made 299 investments. Its accelerator program lasts for 15 weeks and it is ranked among the top three fintech incubators and accelerators. What sets Forum Ventures apart is its emphasis on prioritizing the founders themselves, fostering a community that can support and learn from each other’s abilities and talents.
4. Antler
Antler, a Singaporean fintech accelerator, offers comprehensive support to founders at every stage. With a 26-week program, Antler has invested in 280 startups so far. By offering access to talented individuals, experienced mentors, assistance with expansion, and funding opportunities from across the globe, Antler assists startups in building a strong team and becoming part of a larger ecosystem. Its goal is to increase the number of business founders in the market and is dedicated to supporting entrepreneurs on all six continents where it operates.
5. Startup Wise Guys
Startup Wise Guys is an exceptional accelerator that was established in 2012 by a team of tech enthusiasts, educators, and professionals. Its main objective is to assist aspiring entrepreneurs in their journey towards establishing successful startups. Based in Estonia, Startup Wise Guys conducts a comprehensive 22-week accelerator program, specifically designed for fintech startups, to equip them with the necessary knowledge and skills required to thrive in the industry.
With a wide range of opportunities and initiatives, this accelerator facilitates global expansion by harnessing the expertise and experience of accomplished founders from more than 60 countries, ultimately nurturing the growth of the next generation of startups.
6. JAFCO Japan
One of the major fintech accelerators, JAFCO Japan, an established venture capital (VC) firm with extensive experience, has made 267 investments across various industries such as IT services, medical and biotechnology, and electronics.
Operating in Japan, Asia, and the US, this VC firm serves as an incubator, private equity firm, and VC organization. In addition to its investment proficiency, JAFCO Japan has a proven track record of successful exits through mergers and acquisitions, initial public offerings (IPOs), and trade sales.
7. Chinaccelerator
Chinaccelerator, a company based in Shanghai, supports fintech entrepreneurs in building their businesses and has invested in 251 startups until now. It has four main programs that cater to different aspects of startup growth and expansion. The first program, called Executive Insights, provides valuable information on disruptive trends, effective growth strategies, and sustainable tools for fintech startups.
The second program, Pilot Accelerator, facilitates connections between startups and potential corporate partners. The third program, Excubation, utilizes corporate partnerships to expedite the development of a startup’s internal team. Lastly, Chinaccelerator’s Vertical Accelerator program focuses on fostering long-term strategic partnerships between corporate entities and startups.
Wrapping it Up
Fintech accelerators have brought about a major transformation in the manner in which startups in the financial technology industry initiate and expand their businesses. These accelerators provide startups with the essential tools, mentorship, and assistance to overcome challenges and attain substantial growth. By taking part in a fintech accelerator program, startups can enhance their prospects of accomplishing success in the ever-changing and fast-paced realm of fintech.
