LatAm: New fintech accelerator program in Latin America

Startupbootcamp FinTech, a financial innovation ‘accelerator’, has announced it will launch its first program in Latin America. The program will be based in Mexico City and is aimed at supporting entrepreneurship and innovation in Latin America. Startupbootcamp helps new businesses focused on innovation in the financial services industry by offering 3 to 6 month programs where start-ups receive structured mentorship, access to industry players, office space in Mexico City, funding and access to a network of regional and global investors. Startupbootcamp has already implemented a similar program in Europe, Asia and the United States. A number of local and global brands are supporting this initiative, including VISA, Finlab, BanRegio, EY and White & Chase.

Start-ups are able to apply for the program now, with Startupbootcamp planning to run a series ‘FastTrack’ events from March to May 2017 in major Latin American cities. These events will give start-ups a chance to meet the team behind the program, including the investors, mentors and partners.

RFi Group data shows that Startupbootcamp may be entering an exciting market in Latin America, with digital banking usage high. For instance, data from H2 2016 shows that 71% of Mexican banked consumers use mobile banking apps on their mobile device. Therefore, any new fintech product or service that can be developed from this program may find a ready market waiting for them.

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