EBRD to support our upcoming Fintech program through its TaiwanBusiness – EBRD Technical Cooperation Fund
We are proud and excited to announce a partnership with the European Bank for Reconstruction and Development (EBRD) on our upcoming fourth Fintech accelerator program starting in autumn 2020 in Vilnius, Lithuania.
Applications are already open for startups from a broad Fintech spectrum like PropTech, InsurTech, analytics, RegTech, cybersecurity areas (read more and apply here). Teams applying till June 15 are eligible for a special additional online pre-accelerator program covering business and company building basics, as well as Fintech topics such as PSD2, Open banking, Licensing, and a module on establishing and running a business in Lithuania.
Startups that will pass through the application process and make it to the Wise Guys Fintech 4 program will receive up to 100K EUR total investment depending on their traction with a follow-on possibility of up to 250K EUR, and intense mentorship driven program by an international pool of mentors, SWG team and EBRD staff. Wise Guys Fintech 4 program will start in October 2020 and will be run for up to 5 months based in Vilnius, Lithuania, combing on-site and online modules.
This program can accommodate both earlier stage teams that need to fine tune their product-market fit, as well as startups with monthly recurring revenue above 5K EUR. It is aimed at a broad spectrum of Financial verticals like PropTech, InsurTech, analytics, RegTech and cybersecurity and any Fintech solution that can support the sustainable economy and/or post COVID19 economic recovery.
Partnership with EBRD and its TaiwanBusiness – EBRD Technical Cooperation Fund is a historic milestone for us at SWG! First off, having the largest and most active institutional investor over 5 continents as a partner gives a whole new level of credibility and positive impact. But we are even more excited to work with an organization which like us has historically been so deeply involved in the often over-looked markets like Baltics, New Europe and CIS, leaving a positive footprint on the economy and ecosystems. This is definitely a clear value alignment and we are looking forward to learning from each other and continuing the positive impact in the parts of Europe and beyond that deserve it.Cristobal Alonso, El Patron aka Global CEO at Startup Wise Guys
The EBRD supports the development of sustainable economies based on a sound and vibrant private sector as the engine of growth and innovation. Progress towards new technology and the creation of value is one of their main goals along this path. Fostering the EBRD regions’ huge potential for Fintech is an increasingly important part of the Bank’s work – as an investor, as a policy adviser and as a cooperation partner. The EBRD works with governments on creating a supportive regulatory framework, building sandboxes and designing roadmaps towards building a Fintech ecosystem. The partnership with Startup Wise Guys benefits from the active support of the TaiwanBusiness – EBRD Technical Cooperation Fund.
We are delighted to launch this new venture with SWG to grow the Fintech startup scene in the EBRD regions with the help of the TaiwanBusiness – EBRD Technical Cooperation Fund. As a transition bank the progress of our economies is what keeps us going and Fintech is an exciting new part of this. The new partnership with Startup Wise Guys adds a new dimension to this work and we are looking forward to the successful delivery of this amazing programme.Jacek Kubas, EBRD Associate Director, Local Currency and Capital Markets Initiative
We have already accelerated and invested in more than 30 Fintech startups such as EstateGuru, ONDATO, PayQin, Investly and others as part of our B2B SaaS and Fintech focused programs. Wise Guys Fintech 4 will be the second Fintech program held in Lithuania and fourth Fintech focused program for SWG in general. Previous Fintech programs were run in partnership with Swedbank, and other competence partners such as Google for Startups, Sorainen.
The program will be held in Lithuania – “one of Europe’s Most Exciting Fintech Hotspots” according to Forbes. The country has a lot to offer for early stage startups, especially in the Fintech area. The startup ecosystem is friendly and buzzing with Fintech and tech events and having all important connections within a hands’ reach. Lithuania is also the only jurisdiction in the EU to have a special-purpose banking license, allowing the foundation of a bank with registered capital of just €1M EUR. Baltics overall rank on highest positions in terms of starting and ease of doing business and to accommodate non-EU founders all 3 countries have special startup visa regimes.
Wise Guys Fintech 4 program is part of the „Financial instrument „Accelerator fund”, financed by European Regional Development Fund (ERDF)”.
The European Bank for Reconstruction and Development (EBRD) was established to help build a new, post-Cold War era in Central and Eastern Europe. It has since played a historic role and gained unique expertise in fostering change in the region – and beyond -, investing more than €140 billion in a total of over 5,600 projects. www.ebrd.com
Taiwanese grants through the TaiwanBusiness-EBRD Technical Cooperation Fund are especially directed towards sustainable resource management, intelligent transportation systems, the information technology-related knowledge economy as well as the corporate sector through advisory programmes for small and medium-sized enterprises and the Women in Business programmes. www.ebrd.com/news/2018/taiwanese-support-for-ebrd-projects.html