Applications are now open for season two of Wales’ only fintech-focused accelerator programme, the FinTech Wales Foundry; FinTech Wales has announced.
The Foundry, which in season one focused on helping early-stage fintech to develop proof of concept, now turns its attention to overcoming the challenges of successfully validating, fundraising and scaling a new venture in season two.
Experienced founder and mentor Neil Cocker has been announced as the season’s programme director and along with a team of industry leaders, have developed a 12-week calendar of mentoring and high-level introductions, all geared to successful fundraising and post-investment growth.
“I’m super excited to help lead season two and support both amazing early-stage startups and the partners who are backing this programme,” Cocker comments.
Joining existing sponsors Principality Building Society and Cardiff Capital Region this season are Admiral Financial Services Limited (AFSL), the lending arm of Admiral Group, who are supporting the programme in 2022
Tom Lewis, Head of Unsecured Loans at Admiral, comments: “The chance to work closely with start-ups, and at the same time ensure we continue to innovate in an increasingly disrupted market, was an opportunity we just couldn’t miss.”
The Foundry’s no equity accelerator encourages applications from startups in Banking, Insurance, Wealth Management, Financial Services, and fintech, before the closing date of applications on 24 December 2021.
The selected startups are due to be announced in early January before the programme commences on 10 January. The cohort will then begin a programme of online, and weekly in-person mentoring sessions at the Foundry hub in Cardiff, Wales, culminating in an event showcasing their progress at the accelerators end in mid-April.
Building on the success of a 2021 Foundry programme, that saw eight startups collectively raise over £8million in investment, FinTech Wales CEO, Sarah Williams-Gardener, is excited to invite a fresh cohort of startups into season two’s new look programme: “The FinTech Wales Foundry is an integral part of our mission to establish Wales as a globally recognised FinTech Hub of excellence. We’re proud of our community and ecosystem which form a critical element in the already thriving Welsh FinTech Cluster.
“Our first cohort raised £9million in investment, created 20 plus jobs and signed corporate deals with our programme partners. Our Foundry season two programme will be aiming to surpass these milestones by helping a cohort of startups validate their propositions, secure investment and prepare for growth. With the support of our partners in both the private and public sector, and combined with access to academia, we know we have a winning formula. I’d encourage all eligible fintechs to apply.”