With locations planned in the four cities of Madrid, Barcelona,Valencia, and Bilbao, SIX is partnering with its domestic champion and newly acquired company Bolsas y Mercados Españoles (BME) to expand SIX’s F10 Incubation Program to Spain. This latest move will strengthen the Spanish financialtechnology ecosystem by bringing new and innovative capabilities to Spain,delivering on plans outlined when SIX’s intentions were made public during thetender offer for BME. F10 is now looking for more local corporations andinvestors to benefit from its ecosystem and programs.
F10 offers established banks andinsurers the opportunity to future-proof their technology by working withstartups in FinTech, RegTech, InsurTech and DeepTech. Partners of F10 gain accessto the latest innovations and the opportunity to test ideas in a globalentrepreneurial environment. F10 has ranked multiple times among the bestEuropean incubators and accelerators and was recently named "FinTechInfluencer of the Year" in the Swiss FinTech Awards. Since 2016, more than100 banking and insurance tech startups from around the globe have completedthe F10 Incubation Program with an impressive survival rate of 85 per cent. Following the success storyin Zurich, in January 2020 SIX successfully expanded F10 to Singapore, where the first Incubation Program is currently taking place.
Commenting on this latest announcement, Jos Dijsselhof, SIX CEO and Chairman of BME, said: “We are here to deliver on ourpromises. The installation of F10 shows our commitment to strengthen the Spanish market and to enable startups with strong potential to gain access toour organization and global network. This is only the first step to become moreambitious and innovative as a combined group, investing in opportunities that would have been unavailable to the separate entities.”
F10 co-founder Andreas Iten commented:“We see great potential in the Spanish financial sector due to the recentgrowth in tech startup investment, an abundance of highly skilled gamechangers, and the innovation-oriented mindset of its established businesses.The progression of the Agenda España Digital and the increasing importance of digital business models in Spain offer ideal conditions for FinTechi nnovation.”
F10 alreadysupports Spanish talent in the form of BlackGull, a FinTech startup in its current Incubation Program in Zurich. The Incubation Program launches in Spain in March 2021.
F10 is whereinnovation meets industry, helping today's talent create tomorrow's technology.It is an ecosystem of startups, corporates, industry experts, and investors,with local hubs in Switzerland, Singapore, and Spain. Its mission is tostimulate worldwide collaboration to further innovation across industries. More than 2,500 startups offering solutions for the banking and insurance sectors from all over the world have applied to the programs in Zurich and Singapore todate.