FinTech Wales has introduced the FinTech Wales Foundry – a zero-equity business accelerator that pairs global FinTechs with leading Welsh financial institutions.
The company is inviting global FinTech companies to come scale in Wales through the program, which was launched during Innovate Finance UK FinTech Week.
According to FinTech Wales, the Foundry is a not-for-profit and non-equity accelerator program that pairs FinTech firms with some of Wales leading organisations. Businesses are accepted onto a 12-week virtual program and are able to access a range of seasoned mentors, venture capitalists and key stakeholders across the UK.
The Foundry will mostly search for startups that hold solutions related to health, mobility, work and money management. However, applications for the program are encouraged from across the spectrum of WealthTech, Payments and InsurTech who are looking to establish their UK presence.
The program was launched in partnership with Principal Building Society, Cardiff Capital Region and Admiral Pioneer. It is also backed by a range of organisations including Amazon Web Services, Google Cloud, Sales, Deloitte, Cardiff University, Stripe, Capital Law, Angels Invest Wales as well as the Welsh government.
Applications for the Foundry are now open for the first intake, which will begin in July of this year. Applications for the program close on June 7.
FinTech Wales CEO Sarah Williams-Gardner said, ?Since the early 90 when Admiral Insurance launched in Cardiff, Wales has quietly been starting, scaling and selling amazing FinTech businesses in the valleys and beyond. Our thriving ecosystem and secrets have now been rediscovered thanks to the recent Kalifa review of UK FinTech.
?This same report highlighted a crucial element needed for any ecosystem to be effective, an innovation hub, which is the rationale behind us launching the FinTech Wales Foundry. Our ambition is to make Wales the destination to scale your FinTech.p>
Ron Kalifa – chairman of Network International and head of the Kalifa review added, ?Im delighted to see FinTech Wales launching their Foundry today with support from the likes of Admiral Pioneer & Principality Building Society.
?Whilst the UK currently holds a top spot on the world’s FinTech stage we cannot rest on our laurels. Emerging FinTech clusters, of which Cardiff is amongst the largest, all share a common goal to make the UK resilient and prosperous on the global stage.p>
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