Geneva-based Fusion is an accelerator dedicated to helping finance-focused startups, is ready to take on startups. The accelerator actually opened its doors in February, but they are now ready to go live and begin helping projects. Billed as the first of its kind in Switzerland, the accelerator has begun accepting applicants for the 12-month program. Those interested in applying have no need to rush, however, as the deadline to enter the first class is not until June 15 (early deadline) or July 15 (final deadline). The accelerator is aiming to accept 8-10 startups for the program, which begins on October 1.
Although the accelerator indicates that they are open to any type of fintech project, they are primarily looking at startups that focus on managing wealth, managing assets, insurance, and trading commodities. Within these categories, they are looking at startups that concentrate on cybersecurity, data-privacy, artificial intelligence, Blockchain, social analytics, mobile, peer-to-peer platforms, and payments.
What sets Fusion apart from a number of other accelerators is that they intend to take zero equity in the companies that they accelerate, instead opting for a commission on deals that they provide. Another departure from other accelerators is in the funding that they offer. Rather than dole out a flat amount to each team, they have opted to invest on a case-by-case basis.
Fusion claims backing from a combination of public and private sources, having been created by Polytech Ventures (based out of the Ecole Polytechnique Federale de Lausanne (EPFL)), but also drawing sponsorship and mentoring from banking-software vendor Temenos, Capco, which provides technological consulting, and academic partners like IDIAP, which is affiliated with EPFL and offers access to research and facilities.