F10, an incubator specializing in the FinTech, RegTech and InsurTech industries, offers startups an intense a six-month program with dedicated mentorship and guidance from industry experts to enable them accelerate their growth rapidly. The program also acts as a precursor for new collaborations with banks and large organisations.
The F10 was launched in 2015 as an initiative of SIX, which was supported by Julius Bär Group and PwC as their first partners. In March 2017, F10 welcomed three additional partners on board, that is Baloise, Genrali and eny Finance.
“The beginning was challenging”, said Markus Graf, Head of F10. “After a first phase the F10 team had to use their power of persuasion to stimulate collaboration between its partners and startups. Meanwhile the partners are very interested in the ideas of our startups.”
Now the first batch comprising of ten companies has completed the Prototype-to-Product- program (P2). Eight of them that reached all milestones have graduated. These include: Sonect, Enterprise Bot, xChain, Futurae, Apiax, Lendity, Traderion, and WealthInitiative.
During the six months three swiss startups established collaborations with the F10 partners, banks and other organisations.
- Sonect secured its first funding from Postfinance and Swiss ICT Investor Club. Sonect has also launched its Virtual ATM which went live in April.
- Lendity offering a crowdfunding platform and SIX are jointly organising the first Alternative Lending Conference in Switzerland.
- WealthInititative and xChain have entered into implementation discussions with large banks.
“We are very proud of everything our startups have been able to achieve with our support”, stated Graf. “In just six months, we have helped the startups to rapidly grow their businesses by connecting them to the right people and institutions with whom they have established collaborations”, he concluded.
F10 invites startups wishing to benefit from the P2 program to apply for the second batch of the program. Application deadline closes on April 28th, 2017.
(Press Release /RAN)