Startupbootcamp, a provider of three-month accelerator programmes for new businesses, has recently announced its 10 chosen startups for its London-based financial sector technology (fintech) accelerator.
The 10 startups to earn a place on Startupbootcamp’s first FinTech programme originate from a variety of regions including the UK, Kenya and the Netherlands.
The accelerator, which was announced in February of this year, will provide the winning startups with mentorship, office space, €15,000 in starting money and an invitation to SBC global alumni network and growth program.
Startupbootcamp’s FinTech programme has partnered with firms such as SBT Venture Capital, MasterCard and Lloyds Banking Group to provide the startups with the expertise and easy access into the desired industry.
Other banking organisations have invested in fintech startups, with Barclay’s basing its own programme in East London earlier this year.
Although financial startups such as this have always thrived in London, there are greater financial costs leading to some firms looking elsewhere.
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However, Nektarios Liolios, MD of Startupbootcamp, believes that, even if firms start outside of London, they will always end up migrating to the City.
“In the US, the really exciting early fintech stuff doesn’t come out of the Valley, but New York and Boston, In the UK you don’t really have pockets of financial activity elsewhere.” he said,
“If you really want to make it big in the UK, you might start more regionally, but you will have to come to London eventually.”
The Startupbootcamp fintech accelerator for winning startups Creditable, Epiphyte, FriendlyScore, Insly, InvoiceSharing, Liquity, M-Change, milliPay systems, Tab and Up Investments begins in 19 days, and will last for 3 months.