COLUMBUS, Ohio; Aug. 22, 2017 – Accenture (NYSE: ACN) has joined leading financial institutions to support the inaugural Fintech71 financial technology accelerator in Ohio. Accenture will serve as a member of the Fintech71 board advisors and provide funding and expert consultation to help establish a robust mentorship program.
“We’re pleased to support the launch of the Fintech71 accelerator in Ohio,” said Joe Chenelle, a senior managing director at Accenture in Columbus. “We look forward to supporting the vibrant community of Fintech startups that are bringing technology innovation to the doorsteps of banks, insurers and other financial services firms across Ohio.”
The Fintech71 accelerator is a non-profit industry initiative of leading financial and non-financial companies and supported by JobsOhio, the state’s private, non-profit economic development corporation, as part of its mission to attract jobs and investment to the state.
Fintech71 aims to build a platform for ongoing Fintech innovation, attract and grow talent, and establish a Midwestern “fintech hub” to accelerate economic growth. The 10-week program will include workshops hosted by mentors, education sessions, and guidance around solution design and delivery.
“Accenture’s strategic and direct involvement in Fintech71 is immensely valuable alongside our private sector partners, as we collectively build a world-class accelerator in the heart of the Midwest and Ohio.” said Fintech71 Executive Director Matt Armstead. “Our startups will have access to Accenture’s global Fintech expertise, deep analytics experience and a network of experts to advance their businesses. Accenture is bringing a true partnership to the table and a sincere lean-in mentality, we couldn’t be more excited about the value they will deliver to everyone involved.”
Accenture’s Fintech71 collaboration extends the company’s commitment to supporting fintech innovation across the globe. Fintech engagement is an important part of Accenture’s Innovation Architecture. This innovation-led approach is designed to help clients develop and deliver disruptive innovations at scale. In 2016, fintech investment in the U.S. alone reached $8.6 billion with 828 deals, according to Accenture Research analysis of CB Insights data.
“Ohio’s financial services sector is the sixth-largest financial services sector in the country and second-largest private sector in Ohio”, said Valentina Isakina, managing director for financial services at JobsOhio. “But we have been flying under the radar screen so far. Fintech71 created a collaboration platform to leverage our talent, ecosystem, and cost advantage to put Ohio prominently on the innovation map.”
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Fintech71 is a non-profit startup accelerator and innovation outpost for Fintechs and top financial services companies in the United States. Located in Columbus, Ohio, the accelerator focuses on growing entrepreneurial activity, attracting more Fintech companies to Ohio, and expanding the innovation pipeline for current private-sector stakeholders, including Ohio’s strong financial services base and Fortune 500 and Fortune 1000 companies headquartered in the state. More information at fintech71.com.
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