Wells Fargo is granting investments opportunities for up to $1,000,000 to FinTech startups and promising minority stake in the invested company.
About the Program:
The Wells Fargo Startup Accelerator is a hands-on program designed to advance startups that create solutions for enterprise customers — inside and outside the financial industry. The annual boot camp is looking to work with firms that are interested in breaking into the Fortune 500 market or financial services vertical market, have an innovative product that is demonstrable, backed by an implementation, and possibly, have existing customer experience.
Eligibility:
Entrepreneurs from around the globe who have innovative ideas can apply. Ideally, you should be a startup targeting large enterprises as your ultimate customers.
Number of Awardees:
6 investments in 5 companies.
Duration of Program:
6 months.
Value of Program:
Up to $1,000,000 in investment along with support in the following areas.
Accelerator: The program has a vested interest in your company’s success. It is primarily to encourage innovation, so Wells Fargo will maintain only a minority equity stake in your company.
Resources: Our intensive program helps companies understand what it takes to become part of the corporate stack. After the program, companies may continue to work with us on proof of concepts across different business lines within Wells Fargo.
Network: Test, prove and grow your concept by connecting with business mentors, venture capitalists, and enterprise executives.
Application Process:
- Interested startups should apply here.
- The review process includes technical and executive reviews. First stage review results are typically emailed 5-10 days after an application period ends.
- After a company is selected, one or more advisors are assigned to collaborate on developing the partnering strategy with Wells Fargo and if applicable, assist in the execution of proof of concept projects.
- Startups will be provided with networking opportunities and connect them with industry leading experts, mentors, executives, and venture capitalists.