Diversity Brings Richness: Our Bet In The First Startupbootcamp FinTech program in Latin America

Diversity Brings Richness: Our Bet In The First Startupbootcamp FinTech program in Latin America

11-Jun-2017 by Startupbootcamp FinTech Mexico City

A few weeks ago we closed applications for our first Startuptbootcamp FinTech program in Latin America, and we cannot be happier and more satisfied with such great startups that showed interest in our program, most of which we were able to meet during our FastTrack Tour.

But mainly, we are really excited for all those who applied.

The FastTrack Tour spanned over three months, visiting 14 cities in 2 continents to execute 15 local events. 202 startups applied to participate in our first FastTrack Tour which adds to 121 applications on our platform in F6S.

Overall, 275 FinTech startups have applied to our program, but it is the diversity of segments and nationalities that make us feel most excited about our first program.

From the USA to Argentina, most applications came from the American continent. But also some others from Spain, Israel, Germany, Switzerland, Ukraine or even Kenya… Startups from more than 20 countries have been interested in developing their project in Latin America through our program Startupbootcamp FinTech Mexico City and, taking into account the increasingly entrepreneurial spirit of our city, we are not surprised about it.

Over the past months, tech media such as TechCrunch or TechBullion have been talking about Fintech innovation taking place in Mexico City.

The ingredients have been diverse, but we bet it has been the cultural opening and the hunger to learn about the best and global practices what has strengthened the ecosystem of Mexican entrepreneurship.

We are upon a new era of investment in the region, as TechCrunch highlighted in its recent article: A new era for startup investing in Latin America: “There’s never been a better time to be involved with the Latin American startup scene”, and the best part is: we are proud to be part of it and enable startups to reach the next levels of growth and development in the region.

What do we want to contribute in this new era?

Wealth and richness in financial innovation in the region betting on multicultural diversity.

It’s all about teams…

Startupbootcamp, as a global accelerator, has 19 programs running in twelve cities around the world. It is common for the whole team to handle conversations in up to six different time zones and involving several nationalities and languages…

In our acceleration program in Mexico City, we have the diversity in our team DNA, with up 5 different nationalities and more than 6 languages spoken: Spanish, Portuguese, English, German, French and Swedish!

We hope to see this diverse spirit reflected in all the teams that have been selected for our Selection Days sessions, which will take place this week, but especially in the 10 projects that will be finally selected to be part of our first generation of Fintech startups.

And why is that? We want to treasure valuable stories from different parts of the world, and jointly build solutions to disrupt financial services in Latin America with regional solutions, as well as multicultural expertise and experiences.

As Emma Reynolds wrote in her post 3 Key Learnings From Being Part of a Multicultural Founding Team: “Gathering different opinions is key to understanding the viability of your idea, strategy, or vision”, and that’s we are looking up in our acceleration program.

And human development

In an earlier post we talked about the prevailing needs for financial inclusion in this region:
According to The World Bank, out of the 2 billion unbanked adults globally, 210 million live in Latin-America and the Caribbean.

It is well known that the gaps in the lack of access to financial services deplete the human development of people and that technology enables to reduce such disparities.

But if we combine our goal of creating FinTech efficient solutions to disrupt the industry in the region, our intention to build the bridges needed by the FinTech community with multicultural feedback, we will have the elements to turn our alumni into great regional leaders.