Top 3 Incubators and Accelerators Across the Globe

Incubators and accelerators are popping up across major metropolitan areas through the world to provide a foundation of entrepreneurship and cooperation between emerging fintech companies.

The traditional finance and tech hubs in New York, London and Silicon Valley get most of the attention, but the widespread availability of the internet and technology has allowed global players to crop up and challenge these hubs.

Cities such as Berlin, Hong Kong, Tel Aviv, Singapore, Shanghai and Sydney are slowly gaining traction as incubators and accelerators in these cities gain more funding. Part of the success of these cities comes from the fact that incubators in traditional hubs have branched out globally.

For example, Fintech Innovation Lab was founded in New York, but has since branched out to London and Hong Kong. Their first 12-week program was held in 2010 and has continued ever since to become a common name in the fintech industry. A startup founded at Fintech Innovation Lab was acquired for $175m, partially due to the accelerator’s connection with large banks.

Barclays is another accelerator that has become known in the fintech scene for catching early success three years ago. This traditional British banking powerhouse joined forces with Techstars to combine the resources of a traditional bank with a more entrepreneurial group. 70 percent of the participants in the accelerators have signed with Barclays, with some contracts totalling £100,000 or more.

Another group of incubators and accelerators that have gained traction thanks to support from traditional banks are located in Tel Aviv. Groups like Elevator have received funding from major players and have launched several notable startups in the region.

Microsoft also has a venture in Tel Aviv through its Azure Accelerator. Although the program is not limited to fintech, it is open to any and all ideas. In fact, many non-fintech specific programs have launched fintech companies, such as Y Combinator out of Silicon Valley. As fintech companies sprout all over the world, the line between fintech and traditional institutions continually becomes blurred.