The fintech incubator F10 is bringing together startups and established companies. In its program, startups receive support from experts in their sector while financial institutes get to know the latest developments. P2 “Prototype to Product” attracts 350 applications at a time from around the world. In future, startups who successfully complete the program will receive investment totaling 200,000 Swiss francs thanks to funds generated by F10’s new pre-seed fund.
The plan is to gather enough capital with the first fund for the next three programs until 2022. More than half the capital has been secured from investors in a member’s round, according to a statement, but the incubator is still looking for external investors.
“For years we have been generating high quality deal flow for early stage investors in the fields of FinTech, InsurTech, RegTech and cyber security. Now it is time to give F10’s members and external investors the opportunity to participate in this deal flow easily and simply,” commented Andreas Iten, co-founder of F10.
Behind F10 are the Swiss stock exchange SIX, PwC Switzerland, Tamedia and a series of banks, insurance firms and companies. The incubator has an office in Zurich and in May 2020 is opening in Singapore, where there are plans to launch a pre-seed fund.