MassChallenge, a global network of zero-equity startup accelerators, today opened applications for the inaugural cohort of MassChallenge FinTech. Launched in May 2018, MassChallenge FinTech matches later-stage FinTech startups with industry leaders to accelerate the emerging products and services that have the power to transform the financial services ecosystem. Industry-focused startups that have raised up to $10M in equity-based funding and have generated up to $10M in revenue are invited to apply by October 12, 2018 at 12:00PM (noon) ET.
“The MassChallenge FinTech program is an incredible platform for later-stage FinTech startups that want to fuel their growth by closely partnering with changemakers at leading institutions,” said Devon Sherman, MassChallenge FinTech Program Director. “With our reverse pitch model, we connect startups with the right contacts inside our partner organizations, so they can work together more efficiently and more effectively. We’re excited to see our inaugural cohort tackle the biggest pain points and create new opportunities in the financial services industry.”
To be accepted into the MassChallenge FinTech accelerator, startups must first receive an offer to partner with at least one of the program’s eight partners on specific challenges. Startups selected for MassChallenge FinTech will work closely with their partners on a range of activities from co-development and product validation to strategic investment and advisor introductions over the course of the six-month program. Startups will also have access to FinTech Sandbox’s data resources, milestone-driven mentoring, and free office space at MassChallenge HQ in Boston’s Seaport District. At the end of the program, the enterprise-ready startups have the opportunity to win a portion of $250,000 in zero equity cash prizes.
MassChallenge FinTech is supported by a public-private partnership that includes founding partners Massachusetts Mutual Life Insurance Company (MassMutual), Putnam Investments, Fidelity Investments, Citizens Bank, John Hancock, and the Massachusetts Competitive Partnership (MACP), challenge partners FinTech Sandbox, Eastern Bank, AARP, and program partners Wells Fargo and Brandeis International Business School. In addition, Columbia Threadneedle Investments recently joined MassChallenge FinTech as its newest challenge partner. Columbia Threadneedle’s partnership with MassChallenge FinTech will enhance existing efforts to foster new and innovative approaches to meet and capitalize on the challenges and opportunities of a rapidly evolving asset management industry.
To submit your application for MassChallenge FinTech, visit masschallenge.org/about-apply. For more information about MassChallenge FinTech, visit masschallenge.org/programs-fintech and follow MassChallenge FinTech on Facebook and Twitter.
MassChallenge FinTech Founding Partners
Massachusetts Mutual Life Insurance Company (MassMutual), Putnam Investments, Fidelity Investments, John Hancock, Citizens Bank, and the Massachusetts Competitive Partnership.
MassChallenge FinTech Founding Advisors
Mike Fanning, MassMutual; Sumedh Mehta, Putnam Investments; Amy Danforth, Fidelity Investments; Steven Dorval, John Hancock; Christopher Musto, Citizens Bank; Bryan Jamele, the Massachusetts Competitive Partnership; Sarah Biller, FinTech Sandbox.
MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Switzerland, Texas, and the UK, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, more than 1,500 MassChallenge alumni have raised more than $3 billion in funding, generated more than $2 billion in revenue, and created more than 80,000 total jobs. Learn more about MassChallenge at masschallenge.org.