5 Reasons Why You Should Apply to our P2 “Prototype to Program”
F10 FinTech Incubator & Accelerator guides and supports Startups with disruptive ideas on their journey to successful companies with paying customers and sellable products and has been ranked multiple times among Europe’s best accelerators. Here are five reasons to hand in your application for the F10 “Prototype to Product” program now.
1. Be part of the ongoing revolution in the finance industry
The financial sector is undergoing a far-reaching transformation due to changing customer demands, digitalization and globalization. Help our corporate partners such as SIX, Baloise Group, Julius Baer, Generali Switzerland, Raiffeisen Switzerland, PwC Switzerland and Zürcher Kantonalbank, eny finance and ERI Bancaire solve actual problems the finance industry is facing. F10 brings FinTech, RegTech and InsurTech Startups together with financial institutions to boost innovation in the finance sector.
2. Find partners to realize innovative ideas
F10 as the Home of FinTech is a place where valuable partnerships start: between Startups and corporations in finance, banking, insurance or consulting, between Startups and investors, between young entrepreneurs and mentors as well as between Startups. Get access to Swiss financial institutions and investors interested in reshaping the finance sector, obtain feedback from industry experts and meet inspiring innovators.
3. Six months of training in the heart of the Swiss finance industry
All the Startups accepted into the P2 “Prototype to Product” program receive six months of training and coaching in Zurich, in close collaboration with specialists and experts from various fields. In the so-called Masterclasses at F10 FinTech Incubator & Accelerator, the Startups learn everything an entrepreneur needs to know: the tools for market research, usability testing, team building, conflict management, business plan, investment strategies, pitches and networking.
During the program, the Startups regularly have the chance to pitch their business in front of investors and thereby get feedback from key players in the FinTech ecosystem. The highlight of the P2 “Prototype to Product” program is Demo Day where the Startups demonstrate their products or services in front of investors, industry experts as well as journalists and celebrate their graduation with friends, family, mentors, coaches and the whole F10 team.
4. Guarantee your Startup is ready to create revenue and investment
F10 has been ranked among Europe’s best accelerators multiple times. The alumni of our “Prototype to Product” program keep writing success stories[S5] , among them the creation of 220 jobs and raising 16.2 million CHF in seed investment. Here is an interesting comparison: the initial investment for the construction of the Eiffel tower was just half of that amount!
The main goal of our “Prototype to Product” program is to guarantee that the Startups are ready to create revenue and investment. We value quality more than quantity and ensure that the Startups in our Accelerator Program complete milestones such as proof of concept and business plans. Only the Startups that achieve all these milestones, will be graduated after six months at F10. This measure helps maintaining high quality standards and is one of the factors that has led to the high survival rate of the Startups graduating from F10. So far, 83 per cent of the teams have graduated from the P2 ”Prototype to Product” program and the survival rate of the graduating Startups is currently at 98 per cent. Usually, 70 per cent of all Startups on the market fail within the first three years.
5. Exploit Switzerland’s entrepreneur-friendly environment
Over 40,000 new companies are founded every year in Switzerland. The central European country is a good place for Startups due to a dense network of corporations and banks, political stability, high education level, quality of life, its location in the heart of Europe and the stable currency. The alpine nation is number one in innovation with most patent applications per capita in the world! F10 FinTech Incubator & Accelerator helps Startups with disruptive ideas to understand the Swiss market and exploit the unique advantages for innovative entrepreneurs to the maximum.
Applications for the next batch of our P2 “Prototype to Product” program starting in December 2018 are being accepted until 9th of September 2018. Apply now!