FinTechFusion

Verified Partner

https://www.startus.cc/company/fintechfusion

Av. de la Praille 50

1227 Geneva

Switzerland

Website

https://twitter.com/FintechFusion

General information:

Fusion, Switzerland’s first fintech accelerator, is selecting about 10 financial technology start-ups for its accelerator, which will start operating from 1 October 2015.
Fusion brings together a broad group of stakeholders: corporate members such as Temenos, the market-leading banking software vendor, and Notz and Stucki, a specialist in wealth and assets management, which provides sponsorship and mentoring; resource partners, such as Capco, which provides technological consulting; and academic partners, including IDIAP (EPFL affiliated research institute), which provide access to cutting edge research and facilities.

Apply to Fintech FUSION's acceleration program: https://www.f6s.com/fintechfusion20161/apply

Company information:

Company type:

Accelerator

Industry:

Financial Services

Impressions:

FAQ:

How is FUSION different from the others accelerators?

Fusion is different from other similar projects and adds additional value to its startups by facilitating access to a broad range of corporates and mentors and by concentrating on those areas where Switzerland is a world leader such as wealth management and asset management. FUSION’s unique multi-sector and multi-partner approach, which not only gives the opportunity for startups to be mentored by leading companies in their field, also takes NO upfront equity stake.

Why did FUSION establish in Geneva Switzerland?

Switzerland is a world leader in both innovation and financial services such as wealth management, asset management, insurance and commodities trading. Financial services account for 15% of the country’s GDP (the highest worldwide). About 6% of the country’s workforce works in the financial services (the highest worldwide). Moreover, Geneva is one of the most competitive financial center in the world. Therefore, we believed it was the perfect place to launch our accelerator.

What role does FUSION hold in the accelerator program?

FUSION coaches your startup to help you refine your strategy, improve the quality of your product and your pitching skills, introduce you to relevant people in the financial industry, help you raise funds etc… We help you launch your product in Switzerland and then expand to others markets. FUSION also creates and manages an ecosystem where several corporate and resources partners as well as mentors bring additional value to the acceleration program as regular contributors.

Do you provide accomodation for us?

We do not provide accommodation. However, we can give you recommendations as well as sharing advice.

How much equity do you take?

We take NO equity in your company!

How much do you invest?

FUSION itself doesn’t provide funding. Polytech Ecosystem Ventures, founding partner of FUSION, will invest on a case by case basis. What about the FUSION offices?

How is the program structured?

The acceleration program is divided into three main stages: The lab: first 4 months of intensive coaching and training, networking and learnings. Goal is to test the main assumptions underlying the business case. The Factory: following 7 months of customer validation. FUSION organizes regular checkups, workshops and presentations during the second part of the program. The main goal to go on the market. The Wrap: the last month of the program is focused on the Final Demo Day, while preparing for growth.

Is there a possiblity to stay in FUSION offices at the end of the program?

Yes. For companies willing to stay in Geneva, we can offer a tailored solution within FUSION offices or close by. So you can stay close to your mentors and your clients as well as take part in the emergence of a new FinTech ecosystem.

What types of companies are you looking for?

We will consider applications from startups transforming any area of financial services, although we consider the following areas to be of particular interest: cyber security, data privacy, Blockchain, asset and wealth management, artificial intelligence, insurance, mobile and peer-to-peer platforms. Moreover, we are mostly looking for start-ups performing in the B2B segment.

What if I already went through an acceleration program?

There is no problem, as we don’t take any equity. We have the same interest as you: closing deals!

Do I have to move to Geneva?

Yes and no. The first 4 months will be very intensive, with plenty of training and coaching sessions, workshops, experience sharing events, networking opportunities, etc. You have to be on-site to attend these sessions and get the most benefits out of it. If you’re based in Europe, you can easily commute every week. We do our best to allow you to do it! The following 8 months, we don’t expect you to be at FUSION offices on a permanent basis, even though we strongly believe that being very regularly at the offices foster innovation and networking through interactions and discussions with people involved in the local FinTech industry.

Do we have to be Swiss citizens?

We host startups from all over the world. Moreover, we will guide you through all the necessary administrative procedures in order to obtain your VISA and your Swiss work permit (EU citizens don’t need VISA for Switzerland).

Do we have to start a company in Switzerland to benefit from your investment?

No. However, you need to have a legal entity registered in a “safe” country.

How does the application process work?

We open the applications every year early April. We advise you to apply as soon as possible, so we have more time to review your project. We start reviewing the submitted projects until the early application deadline at mid-May and will start the first Skype interviews with the pre-selected startups afterwards. Finally, we will review all projects and set up Skype interviews for the pre-selected teams after the final application deadline in June. We will inform the selected team towards end of July. Selected startups have to start the on-boarding process (work permit, FUSION agreement, relocation, etc.). In September, we officially announce the selected teams and the acceleration program finally starts in the beginning of October.

Does FUSION sign a NDA during the application process?

No. Don’t worry about NDA: execution matters!

Do we have to pay a fee to apply or join the program?

The application and the program are free, There are NO fees to apply or join the program!

Based on which criteria will the 10 final companies be chosen?

We will assess the quality of your idea, your team, your business model and the progress you made so far. Your startup must also fit with the market and with what Switzerland has to offer in terms of financial services (wealth management, asset management etc.). As previously mentioned, we are mostly looking for startups performing in the B2B segment. Finally, make sure you have a Minimum Viable Product we can accelerate and bring to the revenues phase.