Startupbootcamp Expands To Latin America With The Launch Of A FinTech Program In Mexico

London - 2 March 2017

The program is a joint venture between Startupbootcamp and Finnovista, and is backed by industry leaders VISA, Fiinlab powered by Gentera, BanRegio, EY and White & Case 

Startupbootcamp, the global accelerator network dedicated to scaling entrepreneurial innovation, has announced its expansion to the Latin American market through the launch of a dedicated fintech program in Mexico today.

Following the success of other Startupbootcamp Fintech programs in London, Amsterdam, New York, Singapore and Mumbai, Startupbootcamp FinTech aims to accelerate Latin American startups by providing them with funding and mechanisms to grow through mentoring, access to corporate partners and clients, and taking advantage of Mexico City as a launchpad. The application process is now open for Latin American startups to take part in the world’s most prestigious FinTech accelerator program.

The accelerator program

Startupbootcamp Fintech Mexico City is a joint venture between Startupbootcamp and Finnovista - the leading champion of fintech innovation in Latin America.

The program has the support and involvement of global and regional leaders in financial services including VISA, Fiinlab powered by Gentera, BanRegio, EY and the international law firm White & Case.

Designed to support 10 FinTech startups, the 3-month accelerator program will take the selected startups to the next level through an intensive program that will enrich their projects. The program will provide 15,000 USD in funding, direct access to key players in the regional financial services industry, specialized mentoring, free office space in Mexico City, and access to a global network of investors and VCs, among other benefits. The main objective is to help these startups implement a successful strategy and prepare to scale.

The program will be led by the Fintech experts Nektarios Liolios, co-founder of Startupbootcamp FinTech, Fermín Bueno and Andrés Fontao, both co-founders of Finnovista. Eduardo Morelos, who has a strong track record in startup acceleration, will serve as program director.

Between March and May 2017 a tour of events called ‘FastTrack Days’ will take place to educate promising FinTech startups firsthand about the program. These events will happen in Buenos Aires, Santiago, Bogotá, Medellín, Quito, Lima, Sao Paulo, Mexico City, Guadalajara and Monterrey, as well as Miami and Madrid. The program begins July 3, 2017 with the 10 selected teams.

The application process for Startupbootcamp FinTech Mexico City is now open. Interested startups can apply here.

“We are excited to announce our first program for Latin American in a joint venture with Finnovista, the most widely recognized promoter of the FinTech ecosystem in the region. The project consists of a regional accelerator program in which, from Startupbootcamp, we will support the participating FinTech startups in the development of their business models and will connect them to financial institutions, in addition to specialised training and mentoring. With this we will help them grow their business and capture new strategic partners, at the same time we’ll provide them with the necessary funding in the initial stages”, said Nektarios Liolios, co-founder and CEO of Startupbootcamp FinTech.

“At Finnovista we have developed and articulated the FinTech ecosystem in Latin America for over four years. Throughout this time, we have witnessed how FinTech startups have drastically increased the pace of innovation in financial services, shaping the digital transformation of the sector and leaving behind traditional financial entities in terms of innovation. However, we are convinced that in growing economies, startups cannot scale by themselves, and they need to place greater emphasis on creating partnerships with traditional players within the industry. This understanding has led us to launch a Startupbootcamp FinTech program for Latin America in collaboration with recognized corporate partners  at  both the global and regional level”, states Fermín Bueno, co-founder of Finnovista.

“Through the Visa Everywhere Initiative Visa is on a mission to partner with startups to co-create the future of Payments. That's why we are excited to support Finnovista and sponsor Startupbootcamp FinTech Mexico City as a way to find innovative ways to improve the payment experience for consumers“, said Juan Carlos Guillermety, Vice-president of Products and Payments Innovation at Visa Mexico.

“Fiinlab was created by Gentera with the purpose of confronting the challenges that affect the large segment of the population that lacks access to financial services. After 26 years working to achieve total financial inclusion, we are convinced that this mission will be reinforced with an active participation in projects like Startupbootcamp FinTech, collaborating hand in hand with Finnovista, one of our most important strategic partners. We are excited about the launch of the program and look forward to meeting the most promising startups in the region”, stated Enrique Majós, CEO of Fiinlab.

“In 2014 we started to immerse ourselves in the Mexican and global Fintech ecosystems to better understand the efforts being made by entrepreneurs to improve products and services in the financial services industry. In parallel, we identified problem areas in the Mexican financial system, for which we defined focus areas through which we wanted to connect with talent to jointly offer value-added services. Our objective: connect, collaborate and build with Fintech startups from around the globe that can offer relevant solutions. We are convinced that Startupbootcamp FinTech Mexico City is the platform that will help us achieve our objective,” said Demetrio Strimpópulos, Director of BanregioLABS.

“At EY we are committed to empowering entrepreneurs capable of transforming a diverse range of industries. We know that collaboration and knowledge exchange are key elements that strengthen the ecosystem and guide startups towards sustainable and high impact growth. The Fintech industry in Mexico is robust, with startups and entrepreneurs that have the capability of positioning the country as a leading Fintech hub among Spanish-speaking markets. Through Startupbootcamp FinTech, these startups can get to the next level,” highlighted Ignacio Aldonza, Partner Financial Services Office, EY.

“We are a global law firm committed to the development of our community; therefore we seek to participate in projects that impact positively in different areas. Participating in the Startupbootcamp FinTech not only allows us to boost the talent of entrepreneurs, but also to increase competitiveness in a promising sector as the financial” said Iker Arriola, Executive Partner at White & Case Mexico.

Launched in 2014, Startupbootcamp FinTech is the leading global FinTech accelerator, and the only program of its kind to attract such wide industry support. Based in London, Amsterdam, Mumbai, Singapore and New York, its partners include Rabobank, Deutsche Bank, Thomson Reuters, Lloyds Banking Group, Arvato Financial Services, Route 66 Ventures and Intesa Sanpaolo, as well as an extensive mentor and alumni network from more than 30 countries across the globe. The award-winning accelerator offers FinTech startups access to world class industry expertise during an intensive three month programme. At the end of the programme, startups pitch at Demo Day to more than 150 investors.

Founded in 2010, Startupbootcamp is the global startup accelerator network with 17 programs in Amsterdam, Barcelona, Berlin, Chengdu, Rome, London, Miami, Mumbai, New York City and Singapore, and a mentor and alumni network in more than 30 countries. To date, more than 380 startups have been accelerated by Startupbootcamp’s programs globally which have raised over €200 million in investment. 

Finnovista is an impact organisation that promotes FinTech ecosystems in Latin America and Europe throughout a variety of activities and collaborative networks, such as events, workshops, hackathons and startup competitions. Finnovista also designs and implements accelerator and scaling programs for FinTech startups. Finnovista’s mission is the acceleration of FinTech entrepreneurship, building bridges between startups and financial institutions and facilitating the transformation of advanced financial services and the elimination of financial exclusion. 

Visa Inc. (NYSE: V) is a global company on technological payments that connects consumers, businesses, financial institutions and Governments in more than 200 countries and territories with fast, secure and reliable electronic payments. We operate one of the most advanced processing networks in the world, VisaNet, capable of managing more than 65 000 transaction messages per second, with protection against frauds for consumers and guaranteed payments for merchants. Visa is not a bank and does not issue credit cards, extend credit or establish taxes and charges to consumers. However, Visa’s innovations enable financial institutions that are Visa’s clients the ability to offer more options to consumers: pay instantly with debt, in advance with prepayment, or afterwards with credit products. 

Fiinlab (Financial Inclusion Innovation Laboratory) is the Gentera Innovation Lab. Our purpose is to foster entrepreneurship and innovation, creating solutions for financial inclusion through sustainable models and enabled by disruptive technologies. We support and invest in startups that offer models that contribute to achieve our purpose, provide a platform for development as well as spaces for collaboration and learning through the organization of events, conferences and work groups.

About Gentera: GENTERA, S.A.B. de C.V. (formerly Compartamos, S.A.B. de C.V.) is a holding company whose primary objective is to promote, organize and manage companies, domestic and international, that are subject to its investment policies. GENTERA was established in 2010 and is headquartered in Mexico. Its shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol COMPARC*. On January 2, 2014, the ticker symbol was changed to GENTERA*.

BanRegio Grupo Financiero has positioned itself in Mexico as one of the most solid banks for Small- and Medium-sized enterprises, offering financing and specialized advisory. Our mission is the success of our customers and we aim to be a bank that is aligned with our community. We have more than 140 branches in 18 different states in Mexico. BanRegio is committed to Fintech innovation through many different initiatives including BanregioLABS and CoFintech, programs through which we aim to offer the most relevant technology-based financial services.

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited does not provide services to clients.

White & Case is an international law firm that serves companies, governments and financial institutions, with a presence in 26 countries. 

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