Fintech71 Bolsters Innovation Across Ohio

Business Accelerator Leverages Ohio’s Fintech Assets

With a goal of attracting innovative fintech (financial technology) startups, Fintech71 serves as a unique business accelerator that leverages Ohio’s strong financial services sector and IT assets. Launched in the spring of 2017, the accelerator was created to help boost innovation across the State of Ohio.

Fintech71, named as a nod to Interstate 71 which bisects Ohio, features an intensive 10-week program, providing access to top financial services companies. Companies selected to participate in the program receive a $100,000 investment and access to mentors at partnering companies. KeyBank, Progressive Insurance and Westfield are just a few examples of the companies that have signed on as partners.

While the $100,000 financial investment is extremely helpful, the program’s greatest value comes in the form of strategic relationships that are mutually beneficial to the startup and partner company. In a seeker-solver type of model, partner companies will help startups with things like product testing and in doing so, the startups will offer potential solutions to problems the mentor company may have. As such, the relationships formed during the 10-week program are valuable well beyond the program’s conclusion.

Home to the 6th largest financial services sector in the nation at $50 billion, Ohio is steadily becoming a fintech powerhouse, which the founders of Fintech71 are leveraging. The State’s unique expertise in financial services make it a prime location for emerging fintech companies to grow their businesses and benefit from the many Fortune 1000 companies that call Ohio home. To that end, Northeast Ohio is home to 20 Fortune 1000 companies as well as major banking operations such as KeyCorp, PNC, First National Bank, Huntington, Quicken Loans and many more. With more than 6,500 finance and insurance establishments across the region, Northeast Ohio employs some 68,000 workers, making the sector a major economic contributor.

In order to be considered for the Fintech71 program, companies must have an established team and a product in market with some users. The accelerator is located in downtown Columbus. Participating Fintech71 companies get free access to the space for six months once accepted into the program.

To learn more about Fintech71, please visit Click here for additional information on the region’s growing fintech sector.