Fintech Accelerator launched in Stuttgart

fintogether wants to make it easier for young fintechs to get started and at the same time make Baden-Württemberg a central location for young financial startups.

Dr. Michael Völter now wants to aim high. "We would like to see a Unicorn come out of Stuttgart in the coming years," says the CEO of the Stuttgart Stock Exchange. In front of a good forty guests, he and the fintogether team celebrated the opening of the new Work Space in the heart of Stuttgart.

The new fintech accelerator is not only intended to promote young companies, but also to bring the start-up community together with companies in the state in the long term. The start-ups for the first batch have been determined. Guests included the program's sponsors, mentors and, of course, the start-ups, who were delighted to take a close look at their new office. Also present were representatives of the Ministry of Economics and the Stuttgart Stock Exchange, who initiated the initiative and will provide long-term support.

We would like to see a Unicorn come out of Stuttgart in the coming years.

Dr. Michael Völter, Chairman of the Management Board of Börse Stuttgart

During the three-month program, the start-ups are not only given office space but also the opportunity to participate in over 25 workshops. Participants will have access to 30 mentors, including from partners such as SAP, EY and Amazon Webservices . They will not only lead workshops, but also provide access to the local and national network of the Stuttgart financial center, from which the participants can benefit.

Six start-ups are involved in the first batch of fintogether:

• Sicher-Autokaufen.de wants to digitize the purchase of used cars between private individuals. To this end, the start-up from Ulm offers a platform on which, among other things, buyers and sellers are checked in advance. Buyers should also be able to protect themselves against fraud and damage to the car.
• Edgefy aims to give private investors access to automated as well as algorithmic stock and crypto trading.
• The Stuttgart-based start-up Pinsl sees itself as a bridge between traditional art and so-called non-fungible tokens (NFTs). With these certificates, for example, a digital work of art is registered on a blockchain. In this way, its owner as well as purchases and sales can be registered.
• CinIT Solutions has developed software to measure the ecological footprint of industrial plants.
• Behind filimeo is the idea of using digital mentoring to train both young and older people in matters of finance. Equipped with this, they should be able to make investment decisions.
• The sixth start-up in the batch is share.study. This young company also wants to strengthen financial education, but especially of pupils and students. To this end, it has developed a stock market simulation designed to teach users financial literacy in a fun way.

An active fintech scene is essential for the future viability of any financial center. It not only brings innovative business models and employees to the region, but also offers established companies opportunities for cooperation and investment.

Dominik Schütz, Head of the Stuttgart Financial location initiative.

The second batch is planned for the first quarter of 2022. Anyone interested in being part of it can already contact the fintogether team.

Disclaimer: Fintogether, like Startbase, is a Stuttgart Financial project dedicated to promoting Germany as a startup location, and Baden-Württemberg in particular.