Sunnyvale, CA (PRWEB) September 02, 2015
Change is coming to big financial institutions as financial technology startups fill the market with new technologies. To feed this influx, Plug and Play’s FinTech Platform of Innovation has accepted 21 startups for its second batch and is partnering with U.S. Bank. A leader in financial service innovation, U.S. Bank has signed on as a sponsor to get to know and possibly collaborate with startups in the FinTech, IoT, Retail, and Hospitality/Travel sectors.
“Seeking out new innovation from startups is an important part of U.S. Bank’s strategy to continue its market leadership,” said Dominic Venturo, chief innovation officer at U.S. Bank. “In addition to building relationships and supporting this important sector, we may work with these companies to incorporate their innovative ideas and solutions with the products and services offered by U.S. Bank.”
Over 12 weeks, Plug and Play FinTech will provide funding, mentorship, and acceleration to startups and first-time entrepreneurs to help them bring to market the next generation of disruptive solutions. Their global network of mentors and advisors help startups further their product development and prepare them to present to Silicon Valley’s top investors.
Of the 29 startups in the first batch, 20 landed pilots and 15 received external funding.
“U.S. Bank brings a critical element to the Plug and Play acceleration process: practical guidance and experience. Their team offers a breadth of industry insights that equip our startups with experienced and knowledgeable mentors,” said Scott Robinson, Founder and Director of Plug and Play FinTech.
The startups will pitch their ideas to investors at Plug and Play’s FinTech & Retail EXPO. To see these startups in person, attend Plug and Play’s EXPO on October 21st. Register here: http://bit.ly/fintechretail
About Plug and Play Tech Center
Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, our program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 startups and 300 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The company operates 3,176 banking offices in 25 states and 5,022 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at http://www.usbank.com.