Partnership between USF and Tampa Bay Wave aims to make region major fintech hub with new St. Petersburg-based accelerator

Fintech accelerator

The overall goal of the fintech accelerator is to transition startups to sustainable,
scalable and profitable businesses.

An innovative multi-year partnership between the University of South Florida Muma College of Business and Tampa Bay Wave is launching the FinTech|X Accelerator, with its first cohort to be selected in 2022.

This accelerator is designed to assist high-potential, high-growth startups in the
fintech, or financial technology, industry through mentoring, pitch coaching and investment
training. The overall goal is to transition startups to sustainable, scalable and
profitable businesses.

“The fintech accelerator will allow our campus to play an active role in the growth
of fintech across the Tampa Bay region,” said Gary Patterson, interim director of
the Kate Tiedemann School of Business and Finance, which is one of six schools within the Muma College of Business. “We are excited
to see the new ideas and companies this accelerator generates and what it offers the
industry.”

Along with supporting aspiring fintech businesses and entrepreneurs, the accelerator
seeks to make the region a hub for fintech startups and talent. The bulk of the in-person
programming and signature events will take place on USF’s St. Petersburg campus and
other venues around the region, highlighting Tampa Bay’s strong financial industry
presence and expertise while exposing the local business community to emerging technologies
and business models impacting the financial industry.

“This is the first step toward a bigger vision for establishing the Kate Tiedemann
School of Business and Finance and this region as a hub of excellence in this exciting
field,” said Moez Limayem, the Lynn Pippenger Dean of the Muma College of Business.

Fintech refers to the integration of technology into financial services. Online banking
systems, crypto exchanges and crowdfunding platforms are all examples of fintech.

The accelerator will begin accepting applications on or before January 1, 2022 from
startups around the world. Like all of Tampa Bay Wave’s accelerator programs, startups
selected for the cohort will participate at no cost and without giving up equity in
their companies. Beyond the 90-day program, companies completing the program have
access to an additional six months of mentoring and other resource support at no cost.

“The new FinTech|X Accelerator is being created to address the growing demand for
innovative fintech solutions and talent by local finance industry giants and the greater
Tampa Bay region,” said Tampa Bay Wave CEO Linda Olson. “I’m incredibly proud of our
longstanding partnership with USF that continues to promote greater startup density
and high wage job creation in Tampa Bay.”

The 90-day accelerator will begin in mid-April, with signature events planned for
June of 2022. Entrepreneurs will receive several weeks of classroom training, virtual
education opportunities and one-on-one mentor guidance as their business grows beyond
the startup stage. At the conclusion of the program, cohort companies will also participate
in a private Demo Day event to a room full of accredited investors and venture capitalists.

“This program embodies St. Petersburg’s Grow Smarter strategy by focusing on the intersection
of financial services and technology,” said J.P. DuBuque, President & CEO of the St.
Petersburg Area Economic Development Corporation. “We’re seeing that nearly all financial
service companies in our market are either significantly leveraging technology or
are truly fintech companies. FinTech|X will allow us to showcase our thought leadership
in the space and attract innovative entrepreneurs and growing companies to our region.”

To learn more or to apply, visit: https://www.tampabaywave.org/fintech/.

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