Visa, in collaboration with leading innovation network Plug and Play, launched the second round of its Inclusive Fintech Accelerator on August 12, 2024. Emphasising the value of diversity in the rapidly advancing fintech sector, this initiative aims to propel the growth of diverse fintech startups.
The accelerator program’s selection process is based on distinct criteria that assesses the potential suitability of startups. It mandates the leadership of the startups by individuals from underrepresented groups, commitment to servicing underserved North American populations, resilience in navigating the intricacies of the fintech environment, and the promise of a viable product.
As part of the benefits, selected applicants will gain access to resources such as Visa’s network, industry leader mentorship, partnership opportunities with Visa, and the chance to develop pilot projects.
Visa’s Inclusive Fintech Accelerator Round Two
The culminating point of the program will be the opportunity to present their innovations at Plug and Play’s Silicon Valley event in June 2025.
The Head of Innovation and Digital Partnerships at Visa, Vanessa Colella, voiced her optimism for the initiative, highlighting the importance of diversity as a driver for innovation and growth. Ahead of the second cohort application process, she reiterated Visa’s commitment to supporting diverse talents in fintech.
The second accelerator program round follows the success of the first one, which focused on new business solutions for money transfers, consumer banking, and lending. The next round will broaden its focus to include domains like blockchain technology, artificial intelligence in finance, and cybersecurity, thus extending its commitment to innovation and support for emerging businesses.
Plug and Play’s impending expansion into Canada, strongly supported by Visa Canada, will connect Canadian fintech startups with Visa’s global network. This move is set to pave the way for innovative collaborations and a wide-reaching impact in the financial technology industry.
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