Startupbootcamp Opens Third Fintech Accelerator, this Time in New York

After opening up fintech Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term programs in London and Singapore, Startupbootcamp has announced that they are setting up shop in New York. Arriving in New York, Startupbootcamp will aim to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term the city’s long standing hold as arguably the financial capital of the world and home to many of the US’s largest financial firms, which have been both investing in fintech startups and integrating their technology.

Heading the New York program is Jesse Podell, co-founder of TechDay and former Co-Organiser of NY FinTech Startups Meetup. Commenting on the launch of the program, Podell stated: “Over the last 12 months we’ve been impressed by the quality of the startups that we have encountered from all over the world, and launching a FinTech program in New York is the next logical step in the evolution of Startupbootcamp FinTech.”

For Startupbootcamp, the New York program adds to their expansion into the financial industry which began last year. Along with fintech, sectors that Startupbootcamp has created accelerators for include data, health care, mobile, transportation and eCommerce. Opening up programs in cities around the world, Startupbootcamp has also partnered with leading firms and mentors of the sector the accelerator is based in.

Partnering with Startupbootcamp in New York are Rabobank, MasterCard, Thomson Reuters and Santander which will provide startups with access to services and mentorship that they can use to develop their products. For these financial firms, the benefits of working with startups include a ground floor glimpse of new technology as well as scouting out potential partners of the future. With regard to the benefits, Stephane Wyper, Global Lead of MasterCard Start Path, stated: “MasterCard is looking at the future of commerce with a fresh perspective by both testing new initiatives as well as partnering with the best and brightest startups”.

Slated to open in 2016, Startupbootcamp New York is opening up the program for 10 startups. Participants receive a $20,000 grant and office space for at least three months during the duration of the accelerator.