Starting a new organization is very easy. Governments across the world have simplified the time it takes to incorporate a company. In some countries, you can even establish a company in a few minutes! The real challenge for founders of new companies lies in ensuring their company makes a profit and survives in the face of fierce competition. Data analysis of VC backed startups has shown that 60% of them fail over a period of time.
If you are starting your first business venture, it helps to be a part of a business incubator. The support you get from experienced mentors and like-minded individuals make it worthwhile. Working with a group of people in a similar situation makes it easier for you to collectively tackle issues facing your companies. We have previously reported about the potential for Fintech Startups In Europe.
We have also listed out interesting facts about fintech and events you should consider attending. If these articles have caught your attention then given below is a list of seven incubation centers located across Europe that are ideal to begin your startup venture. You can also check out our previously published list of incubators in Bangalore.
Reuters FinTech Lab – https://innovation.thomsonreuters.com
You get free office space at this lab if you are accepted into their six-month program. Backed by the global giant Thomson Reuters, this incubator supports startups working in FinTech, RegTech, NewsTech and LegalTech industries. Getting incubated here gives you access to the Thomson Reuters network of 40,000 customers (4 lakh end users) across 155 countries to try out your beta products. The company has labs in Canada, UK, Switzerland, the US , South Africa and Singapore.
Level 39 – www.level39.co
Level39 is Europe’s biggest FinTech incubator located in the center of London’s financial capital. The incubator recently launched Cyber39 to address cyber threats being faced by companies in Europe It has been conceptualized by the Canary Wharf Group, London’s leading real estate developer which has leased out property worth £ 5 billion (Rs 45,000 Crore) in London. If you have a great idea for the UK market then this is the place to start your venture.
FinTech Group – lab.fintechgroup.com & www.finlab.de
Is a one-stop incubator for Fintech Startups. It is backed by the FinTech Group AG, a German online brokerage. Based in Berlin Germany, the group has partnered with marquee investors like Rocket Internet who will provide the required funding. It is an ideal location for startups looking to expand in Europe, FinTech Group has deep linkages with the European financial system. Take a look at their offerings below:
Barclays Accelerator – www.barclaysaccelerator.com
Runs an intensive training program spread over 13 weeks that will help accelerate your start-up. Startups that complete their program stand to secure US$ 120,000 (Rs 80 Lakh) investment from Tech-stars. Barclays is looking to incubate startups working on A.I, Machine Learning, Online Payments, Digital Currencies, Wealth Management and Fintech related products. This is a full-time program and is available in New York, London, Tel Aviv and Cape Town.
In 2016, Octopus labs took in five startups and is currently helping them achieve scale. At Octopus Labs you get access to new distribution channels, membership and unparalleled support. It is also a great place to network and meet other professionals in the Fintech industry. We recently wrote about their dynamic savings products.
Finance Innovation Lab – financeinnovationlab.org
Based in London, the finance innovation lab provides fellowships to qualified startup founders. The lab is keen to encourage founders to create alternate business models in finance. They have a highly evolved strategy for systems change and have an excellent track record of converting ideas into successful businesses. You can take a look at this years, fellows, here and here.
Silk Ventures – silk-ventures.com
Backed by the China Equity Group, this technology accelerator is focused on the Chinese economy. Co-hosted with Level39, companies selected here get to attend an immersive program in China to develop financial products for the Chinese market. China as we have noted is home to some of the most valuable fintech startups.
The incubator also helps Chinese Startups get access to European markets through a schedule of seminars and workshops organized throughout the year. Startups can apply next year to join the new cohort.