Fintech company FIS (NYSE: FIS), in collaboration with the state of Arkansas and Little Rock-based The Venture Center (VC), announced on Wednesday that applications are open for the 2018 VC FinTech Accelerator program.
According to FIS, the VC FinTech Accelerator is heading into its third year and seeks to accelerate the development and growth of early-stage financial technology ventures. A total of ten startups will be selected to participate in a 12-week program in Little Rock starting on April 30th. In addition to monetary investment, each VC FinTech Accelerator participant will receive in-depth mentoring and training from FIS and The Venture Center as well as personal access to the FIS C-suite and senior leaders. Gary Norcross, FIS president and CEO, stated:
“FIS is proud to sponsor the VC FinTech Accelerator program again in 2018. The Accelerator is part of our broader innovative strategy of investing in and bringing to market disruptive new technologies to help our clients unleash innovation in their organizations. We look forward to discovering a new set of potentially game-changing innovations in this year’s participant class.”
FIS also revealed that the 2017 program received 295 applications from startup financial technology firms across the United States and 39 other countries. Benefits for numerous past participants include:
- Reseller and investment agreements with FIS
- Endorsement by the American Bankers Association
- Raising a combined $20 million in follow-on capital after completion of the program
- Finovate “Best of Show” designation
Key focus areas of previous participants included artificial intelligence (A.I.), blockchain, regulatory, wealth and advanced analytics. Some of the most successful companies also have been selected for the FIS HiPo Network, a collection of high-potential firms that develop innovative tools and technologies to better enable financial institutions around the world. Wayne Miller, managing director of the FinTech Accelerator at The Venture Center, added:
“We are excited to continue this collaboration with FIS to facilitate the development and growth of financial technology startups. Among financial technology accelerator programs, the VC FinTech Accelerator stands out by providing real-world training and mentorship from FIS and The Venture Center, along with the ability to tap into FIS’ global network. Additionally, The Venture Center brings to the table hundreds of relationships with industry experts, banks from coast to coast, and officials at governmental and regulatory bodies.”
Applications for the 2018 program will close on February 5th
