Applications for the AWI Ventures FinTech Accelerator Spring Intake close on the 30th of September.
Guest Post by Toby Heap, CEO AWI Ventures.
AWI Ventures invests in digital finance industry startups with a particular interest in direct-to-consumer wealth management services.
We typically take a minority stake in early stage, growing businesses that have the potential to become successful and substantial enterprises and potentially valuable partners for core AWI businesses.
Startup accelerator programs don’t tend to produce many financial services businesses due to the specific characteristics and requirements of startups in the financial services space.
The AWI Ventures Accelerator Program aims to provide the environment and specific industry and regulatory support that financial services startups need to thrive.
The Accelerator Program runs for 6 months with 4-6 teams (typically 2-3 entrepreneurs per team) invited to join the Program in each intake. Successful teams will be drawn from across Australasia and will be based in AWI’s Sydney offices for the duration of the Program.
Ideally we want teams that are cross functional with at least one hands-on technologist (engineer/coder) and at least one member with significant and relevant financial services experience but we will consider any individual or team that applies. Some businesses may be able to outsource development and for others we may be able to help you find technical cofounders.
If you are a great coder looking to join a startup please let us know you want to be involved and like the idea of joining a startup.
Applicants will need to demonstrate their ability to deliver a working minimum viable product and initial proof of market within 4-5 months with the aim of raising a Series A round of capital within 6-12 months.
There are significant financial and non-financial benefits from being a part of the AWI Ventures accelerator program.
- Invest $100,000 ($50,000 cash) into each startup in return for a minority (10%) equity share.
- House the startups in our central Sydney CBD office space alongside us and our other startups.
- Assist each startup to establish a professionally run business with administrative support and services.
- Fill any knowledge gaps founders may have with our startup development program, supported by visiting industry experts and mentors.
- Run regular group lunches, dinners, pitch sessions and prototyping sessions as well as regular 1-on-1 feedback.
- Provide access to our network of financial services and technology industry leaders.
- Prepare the teams for the Series A capital raising process to increase their chances of success
Apply now by filling out the application form here