UBS and Credit Suisse, the two largest Swiss banks; Swisscom, Switzerland's leading ICT provider; Swiss Life, the provider of comprehensive retirement provisions and financial solutions; and Ernst & Young (EY), the global consultancy firm, are joining forces to launch a FinTech accelerator programme with an international target audience.
The partner companies announced the launch of the international FinTech accelerator programme located in Zurich, during CeBIT in Hanover. The accelerator programme aims at developing promising business ideas in Zurich and is mainly focused on Wealth Management, Digital Identity and Block Chain (e.g. distributed ledger and smart contracts).
The initiative, under the umbrella of the Kickstart Accelerator, is supported by the two local FinTech associations “Swiss Finance Startups” and “Swiss Finance and Technology Association”. It is aimed at the most promising FinTech start-ups worldwide that are still in an early stage. The first cohort starts in summer 2016.
To participate in the accelerator programme, teams from all over the world have to go through a rigorous application process. Successful applicants will receive financial assistance for three months, a workplace in Zurich, mentoring by world leading professional experts as well as experienced entrepreneurs and are introduced to investors. In addition, the start-ups benefit from the expertise of the partner companies and get direct access to the financial industry.
The Kickstart Accelerator, founded in 2015, is an initiative of DigitalZurich2025 which aims at promoting Switzerland as one of the leading locations for digital companies. The Kickstart Accelerator will run three other focus programmes in parallel, namely in the fields of Food, Smart & Connected Machines and Future & Emerging Technologies.
DigitalZurich2025 is a cross-industry initiative which aims at positioning the greater Zurich area as an attractive location for digital start-ups, companies and talents as well as supporting Swiss companies in overcoming digital challenges.
