PwC Startup Collider Fosters European Fintech Ecosystem

In the wake of emerging FinTech startups based out of London, Europe is now marking a solid footmark in the global finance industry. Now, PricewaterhouseCoopers (PwC), a renowned professional services firm, is going to further boost the sector with its Startup Collider accelerator program.

PwC’s Startup Collider accelerator program is focused towards startups working on fintech and fintech-related blockchain solutions in Central and Eastern Europe. The three-month long program officially kicked off on Monday for 13 participating teams. During the course of acceleration, the selected teams will be working closely with PwC’s specialists to build robust, meaningful and efficient solutions. The firm is also expected to help these startups market their product to investors and financial institutions.

According to reports, eight of the thirteen fintech startups in the first cohort of Startup Collider are in prototype stage. These eight startups are taking part in a three-month Bootcamp to gain a better understanding of the market and product development. The startups in Bootcamp program include Autenti, Blueopes, Cognitum, Claims Control, finAPI, Jumbster, Talk Bank, and Xchanger.

The remaining five startups in growth stage are part of the “Fast Track” program, working on finding investors and partners. The “Fast Tracked” teams include Coinfirm, Cyber Productivity, Dotmetrics, Noa Tech, and Transparent Data.

The PwC Startup Collider will help the fintech ecosystem in countries other than those located in financial hubs. This will be an added advantage, especially with the prediction of London losing its fintech hub tag following the Brexit. Also, PwC is following the footsteps of other professional services firms like Deloitte who are involved in similar ventures.

The effective use of blockchain technology has already been demonstrated numerous times. With many banking and financial institutions already expressing interest in the platform, the demand for blockchain-based fintech applications is expected to rise in the near future. And, the startups that are currently invested in the sector may emerge as winners.

Ref: Econotimes | Image: Shutterstock