A wealth management program and an app that helps newcomers make the right investment choices are among the startups selected by AWI Ventures to take part in its Fintech accelerator program.
The company has invested $100,000 in each of the four startups and will allow them to spend six months at the AWI offices in Sydney’s CBD to further develop their products and business plans.
AWI Ventures chief executive Ben Heap said in a statement he hoped Sydney would become a major centre for financial services technology.
“Australia is a global player in financial services with the second largest banking system and the fourth largest savings pool in the world,” he says. “It makes perfect sense that we should be leading the world in the fin-tech space.”
The startup founders were chosen from more than 80 applicants across the country.
“We were pleased by the number of applicants for our first intake into the program and were thrilled to have so much interest from every state in Australia and several international locations,” Heap says.
The four selected startups are:
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1. Debt to 10k
4. Simply Wall St
Applications are currently open for the next accelerator program intake and close on September 20.