Kicking-off the third competition of the 2018 Female Founders in Tech (FFiT) program, launched just a year ago, Quesnay Inc. is welcoming women-led startups with market-ready solutions that address key technology opportunities in the financial services industry to apply at quesnays.com/ffit2018fintech through December 17, 2018.
Female Founders in FinTech is open to technology startups globally that have women founders, co-founders, or C-Suite leaders and a tested product. The competition will award three winners a combined $75,000 in cash prizes along with legal services, financial planning education, mentorship from industry executives, introductions to potential business partners, and more.
Launching in parallel with Global Entrepreneurship Week, a celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth, and expand human welfare, this program focuses on celebrating and supporting women, an underserved group in financial services and FinTech. In 2017 only about 2% of venture capital funding went to women founders. Quesnay is taking action to unlock financial and partnership opportunities, not only with a cash prize, but by providing applicants with exposure and introductions to industry experts and corporations that can help them bring their solutions to the next level.
“Our Female Founders in Tech community already has over 250 women-led startups and we want to keep growing our reach across geographies and industries,”
said Jennifer Byrne, co-founder and president of Quesnay.
“Our sponsors this year are equally passionate about this initiative - proven by the financial and resource commitments they are making.”
This year’s FinTech competition is presented by Wells Fargo and has additional backing from supporting sponsor Fidelity Investments, contributing sponsors Shearman & Sterling LLP and Royal Bank of Canada, and strategic partner PayPal.
Another important objective is to bridge the gap between corporations and startups as a catalyst for innovation. Industry experts rigorously evaluate each of the applicants including vetting for differentiation and clarity of customer value proposition. Sponsors are directly paired with applicants who often approach and solve problems differently than they do.
“We’re honored to collaborate with Quesnay to foster diversity in fintech and look forward to meeting founders and seeing the solutions they put forward,”
said Lisa Frazier, head of the Innovation Group at Wells Fargo.
“We are committed to supporting fintech entrepreneurs around the globe through our Wells Fargo Startup Accelerator and, as this competition’s presenting sponsor, we’re excited to advise, develop, and promote women in technology and entrepreneurship.”
In addition to introductions to industry leaders, five finalists receive one-on-one advice from experts during a month-long mentorship period, an experience that has been highly valued by both the mentors and finalists. Mentors work with the finalists to refine the pitches that will be presented to judges at the final event which will take place in early March at the PayPal offices in New York.
“Much like PayPal’s mission to democratize financial services and create greater opportunities for consumers and merchants to participate – and in fact, thrive – in the global economy, Female Founders in Tech is designed to democratize access to capital, giving female entrepreneurs access to much needed resources,”
says Louise Pentland, PayPal’s Chief Business Affairs and Legal Officer.
“We are proud to serve as a strategic partner for FFiT’s competition and look forward to hosting the final pitch event.”
Additional prizes include access to mentoring and legal advice for finalists as a part of Shearman & Sterling’s FinTech Advisory program, which is dedicated to supporting FinTech startups shaping the future of financial services, and a complimentary delegate pass to the SALT Conference for the first place winner. See the full list of prizes, competition rules, FAQs, and more on the Female Founders in FinTech page.