Innovative startups from banking, insurance, financial services and fintech are invited to apply for the third season of FinTech Wales accelerator programme.
FinTech Wales, the not-for-profit membership organisation for the fintech industry in Wales, has opened up applications for the third cohort of the Fintech Wales Foundry scheme.
The 12-week, no equity accelerator programme, partnered by Cardiff Capital Region (CCR), Confused.com and Principality Building Society provides mentorship and support to help incubate, accelerate and scale startup organisations within the Welsh ecosystem and beyond. The closing date for applications is 19 August 2022.
In its first two programmes, the Foundry has supported 16 companies in collectively raising more than £20million investment. In the most recent round of the programme, half of the businesses who took part were initially based in England, Poland and Portugal. However, after graduating all eight companies have a presence in Wales.
Entrepreneur Neil Cocker has been announced as the programme director for the second time, having also directed the second cohort, which graduated in May this year. Cocker has previously founded three tech businesses and also created Cardiff Start, which has been supporting entrepreneurs and startups for the past decade.
Cocker says: “I’m absolutely thrilled to be back as programme director for FinTech Wales’s Foundry Programme. It’s incredibly exciting to work with founders to nurture them through to the next stage of their growth, and I can’t wait to see what startups apply for season three.
“For our third cohort, we’re looking for fintech startup entrepreneurs from Wales and around the world, who are developing an early stage business and looking to validate it, with a view to raising investment and going to market. We’re perfectly positioned to provide the support startups need to validate their business, tell their stories and raise investment, to ultimately scale up their business globally.
Throughout the programme, the Foundry introduces entrepreneurs to leading Welsh-based enterprises, and show them the value of developing a company in Wales.
Sarah Williams-Gardener, FinTech Wales CEO, said: “The Foundry is a key element in our strategy to establish Wales as a globally recognised fintech hub of excellence. Our first and second cohort of businesses have collectively raised over £20million in investment, and most importantly, these businesses now have a presence in Wales, bringing jobs, innovation and ultimately, a boost to our economy.
“We could not be more excited about what we are creating through the Foundry, and to have Neil on board once again is fantastic. His experience of creating and scaling businesses is second to none and we couldn’t have wished for a better programme director.”
Earlier this year, Cardiff Capital Region (CCR) announced a £1.6million, five-year investment in FinTech Wales, which will be spread over a five-year partnership between CCR and FinTech Wales, and will see the two organisations work closely together to deliver on CCR’s commitment to establish Wales as a leading FinTech sector in the UK.
Successful applicants for the third cohort of the Fintech Wales Foundry scheme will be announced in September.