BECU FinTech Incubator, powered by UW CoMotion
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BECU has partnered with UW's collaborative innovation hub to launch the FinTech Incubator, powered by UW CoMotion.
The collaboration utilizes CoMotion's strengths in incubation, company formation, and startup programming and pairs budding startups with access to subject matter expertise at BECU, plus, opportunities to explore partnerships.
Applicants who pitch and are selected to be part of the year-long program will receive the following benefits:
- A one-year membership to CoMotion Labs co-working space, including dedicated desks, access to conference rooms and event space
- Access to the University of Washington mentor database and BECU mentors
- Connections to other BECU experts that are relevant to startup needs
- Startups with a live product that matches BECU needs will have the opportunity to explore partnering on conducting user research or running a proof-of-concept
- Pitchbook access and membership
- Connections to UW faculty and the ability to hire UW student interns or graduates
- Opportunity to participate in the annual Startup Career Fair and UW pitch event
- CoMotion Resource Manual
Who Should Apply
BECU is interested in a wide array of fintech startups with solutions that would support their members' financial health, improve BECU's data capture and analysis, and make their back-office processes more efficient. These include mobile payments, digital wallets, robo-investing, budgeting apps and more. Any startup with a relevant solution is encouraged to apply.
At present, the verticals we are most interested in include:
- AI/Process Automation
- Data Analytics and Machine Learning
- Personalized Platforms
- Payments and Settlements
- Lending and Crowdfunding Platforms
- Digital Lending
Other verticals of interest include:
- Wealth Management - investment and wealth management platforms and analytics tools.
- Robotic process automation (RPA) - process automation technology which utilizes software robots or digital workers to automate the tasks which are usually performed by humans. Financial service industry has already implemented RPA to cut costs and improve the overall organizational efficiencies.
- Open banking - brings both banks and Fintech together by facilitating data networking across institutions. Open banking is related to the Second Payment Services Directive (PSD2).
- Applications accepted January through April 15th
- Top applications are asked to come in and invited to pitch our team in mid-May
- Applicants notified of decisions by the end of May
- New cohort begins early July
- Companies will get one full year in the incubator
Discover additional BECU and UW partnerships by visiting our UW partnership page.