FinTech Wales Foundry Unleashes Startup Accelerator Programme

For season two the Foundry turns its attention to the challenges of validating, fundraising and scaling a new venture.

FinTech Wales Foundry has announced applications are being accepted for season two of its fintech-focused accelerator programme.

The Foundry, which in season one focused on helping early stage fintech develop proofs of concept, now turns its attention to the challenges of validating, fundraising and scaling a new venture.

Neil Cocker, Co-Founder and CEO of e-commerce platform Ramp, is the season’s programme director. The programme comprises a 12-week calendar of mentoring and introductions, all geared to fundraising and post-investment growth.

Sarah Williams-Gardener, CEO of the not-for-profit organisation FinTech Wales, explains that the first cohort raised £9 million in investment, created 20+ jobs and signed corporate deals with the program partners.

Joining existing sponsors Principality Building Society and Cardiff Capital Region for this latest season is Admiral Financial Services.

Tom Miller, Head of Unsecured Loans at Admiral Financial Services, comments: “The chance to work closely with startups, 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 offers a no equity accelerator and seeks applications from startups in banking, insurance, wealth management, financial services and fintech.

Companies don’t need to be in the UK, but they do need to have “an idea, prototype, users or are at the paying users stage”. They also need to be a seed stage venture and be aiming to raise capital by the end of March 2022.

The selected startups will be announced in early January before the programme commences on 10 January 2022. The cohort will then begin a programme of online, and weekly in-person mentoring sessions at the Foundry hub in Cardiff, culminating in an event showcasing their progress at the accelerator’s end in mid-April.

According to the Foundry’s site, it has a lot of notable supporters. Names include Google Cloud, AWS, IBM, Microsoft, Stripe, EY, Salesforce, Hubspot, Deloitte, Red Hat and Tech Nation.

Applications close on 24 December 2021 and more details are at the Foundry’s site here.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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