Following the success of its first season (which saw 23 fintech startups selected from over 100 applications) Paris-based incubator Le Swave has announced its second recruitment campaign for fintechs / insurtechs
Initiated jointly by the French government and the private sector in 2017, and with Paris&Co as an operator, Le Swave is the first French platform dedicated to the incubation and business acceleration of fintechs / insurtechs.
The new campaign will aim to select around 20 new start-ups, with the first cohort moving into the La Swave offices on the 19th and 20th floors of La Grande Arche, in the heart of the Paris-La Défense business district, in January. There they will enjoy preferential rates of less than € 200 / month for a work station.
Each application will be assessed by the jury on five key areas – the innovative aspect of the project, the economic potential, the business plan, the quality of the founding team and suitability between the project and the corporate partners’ strategic plans.
The jury consists of representatives of Société Générale, NewAlpha AM, Crédit Municipal de Paris, Exton Consulting, AG2R LA MONDIALE, Mastercard & Groupe Casino.
These plans encompass four axis that are detailled on the application platform:
- Behavioural finance & Know-your-customer
- User Experience applied to financial services
- Inclusive finance
The deadline for applications is midnight (Paris time) on November 9th.
After an initial review, the shortlisted projects will be invited to a pitching session in front of Le Swave’s jury on November 30th, December 3rd and 4th. Selected fintechs will then be invited to join Le Swave, starting January 2nd 2019 for a 12-month program that can be extended to a maximum of 36 months.
The selection process also involves a scholarship to support diversity with the aim of supporting projects founded by women or entrepreneurs from deprived neighbourhoods. Up to four start-ups will benefit by receiving additional funding from the scheme.
To help bolster the position of the Paris region as a growing hub for financial innovation in Europe, a relocation package is also being offered to foreign fintech start-ups. Selected companies will enjoy a simplified access to residence permits through the French Tech Visa Program (that both DIRECCTE services and Le Swave are members of).
Additionally, a tailor-made service will be offered by the Paris Region in order to help companies open their French subsidiary and relocate their senior management and workforce.
How to apply :