AWS launch global fintech accelerator programme
Amazon Web Services (AWS) has announced the launch of the AWS Global Fintech Accelerator programme.
The first-ever cohort will select 150 fintech startups harnessing the power of artificial intelligence (AI) and machine learning (ML) technology from across North America, Europe, Middle East, Africa, and Latin America. Applications for the accelerator are now open and will be accepted until August 14.
Today, fintech is an economic powerhouse and innovation engine that is projected to grow from $134 billion to $1.5 trillion by the year 2030, according to the latest research from BCG—on par with enterprise banking and financial services.
"We are making big bets on the potential of generative AI to significantly change every customer experience out there, especially as it relates to financial services," said Howard Wright, VP and Global Head of Startups. "In the long term, we expect generative AI to usher in the era of self-driving money, when every consumer with a smartphone can have access to an affordable, trusted financial advisor that will help them improve their financial health. These solutions will leverage what the cloud does best: it democratises access for everyone."
“More and more consumers want a future when access to finance is cheaper, greener, and decentralised," said Sam Edge, Global Head of Fintech for Startups at AWS. "Arming fintech startups with powerful artificial intelligence and machine learning tools will unlock new opportunities for them to reach and delight these ever-demanding customers—that is the goal of this programme.”
AWS Global Fintech Accelerator
The AWS Global Fintech Accelerator, created in partnership with NVIDIA, is dedicated to helping jump start early-stage fintech startups that are leveraging AI/ML to innovate financial services. In the six-week program, 150 selected global startups across NAMER, EMEA, and LATAM will receive direct mentorship from top-tier industry players and investors, access to specialized resources and new technologies enabling fintech innovation, and partnership opportunities with investors and advisors. In addition, the selected startups will receive up to $25,000 in AWS Activate credits to build their products and services.
At the end of the program, the top 15 fintech startups (5 from each region) will be invited to present their products and services to a curated list of potential investors and customers on a Demo Day and will receive up to $75,000 in additional AWS Activate credits.
The full six-week programme will be hosted remotely. After the programme, 15 selected finalists will have the opportunity to join AWS, NVIDIA, and potential investors and customers in-person at a Demo Day event hosted in the US.