Zürich – F10, the Fintech Incubator and Accelerator, is delighted to announce that out of the 167 Startup companies that applied to F10’s Prototype to Product (P2) program 10 Startups have been chosen to join. The P2 Program allows teams with a thrilling prototype to participate in the product development program where they produce a minimal viable product and subsequently incorporate their startup. These 10 startups will now become part of F10’s roster and will be accompanied and supported in their endeavor to bring their ideas to the market.
Earlier this month, F10 announced to the world that the FinTech Incubator and Accelerator had reorganized itself in the form of an association with the aim of bringing innovation to the finance and insurance sectors of Switzerland and Europe. The F10 association includes the well-known members Julius Bär, Switzerland’s leading private banking group, and PwC Switzerland; who together with SIX form the foundation upon which the Fintech Incubator and Accelerator is built.
Twice a year, F10 offers a six-month “Prototype to Product (P2)” program which assists yearly up to 20 selected, promising teams/startups to transition their prototype into a sellable product. The teams gain access to the working space at F10 in Zurich. Coaches from the F10 team, as well as external mentors, will be allocated to each team to support them and ensure that they achieve their milestones. The first batch begins in November 2016 and ends in April 2017.
Throughout the six-month period, the teams will attend lessons and workshops grouped into five units: Vision, Team & Strategy; Business, Product & Technology; Marketing & Sales; Legal & Regulations and Demo Day & Graduation. Coaches and mentors will be present to ensure that the teams are on the right track. The program can be partially completed online/off-site with only certain dates requiring actual on-site presence. F10 will cover travel expenses with a 15’000 CHF reimbursement for each team upon achieving their determined milestones.
By the end of the program, teams/startups will have gained in-depth experience of all aspects of the financial industry and top level contact to big financial players, they will have access to the F10 association members’ global network of banks and benefit from SIX services, regulators, angel investors and venture capitalists. Participation is free and F10 does not take equity in the Startups.
The 10 Startups that have been chosen to participate in the next P2 Program are:
A P2P ecosystem which is completely decentralized by eliminating centralized servers to insure that no one cloud computing company has access to the users’ data and information.
Generating better access to compliance regulations by providing easily integrated public programming interfaces (APIs) that facilitate access to always up-to-date and verified compliance rules.
Blockchain Technology customised for philanthropic P2P lending with a focus on micro loans for micro businesses in refugee camps.
Focussing on an automated customer support system for banks that is able to understand and act upon customer queries and is easily integrated into existing infrastructure.
Creating fast, simple and hands-off two-factor user authentication for online applications that require additional security by pairing mobile devices with computers in the vicinity of each other.
Providing investors with a streamlined system to access tailored loans from multiple P2P loan platforms around the world.
Creating virtual ATMs where users can withdraw cash from any shop that joins the program at over 50% cheaper than the current ATM withdrawal costs.
Profiling and training of trading professionals using gamified simulators and machine-learning algorithms.
Designers of the ThematicCloud, a platform which will facilitate thematic investment processes by combining technology and research to produce customizable and sustainable thematic investment vehicles.
Creating a platform to allow wealth management institutions to recognize and exploit synergies amongst their clients, and in a further step amongst their peers.
F10 is proud to be able to work with these young and innovative companies. Together with the 10 selected Startups, F10 strives to make important advances in the fields of Fintech, InsurTech and RegTech. The P2 Program will begin on November 7th, 2016.