Riding the momentum of the Y’all Street financial hub, Southern Methodist University’s Cox School of Business and accelerator network MassChallenge launched the SMU Cox FinTech Accelerator and SMU Cox FinTech Coalition.
The SMU-led and MassChallenge-operated accelerator will anchor the coalition. The accelerator will connect fintech startups with companies, investors, students, faculty and others in the financial services realm, the partners said.
“The growth of Y’all Street in North Texas creates the perfect opportunity for entrepreneurs and startups to innovate at the intersection of technology and financial services,” Josh Taylor, executive director of the SMU Cox William S. Spears Institute for Entrepreneurial Leadership, said in a statement.
The accelerator joins a North Texas fintech startup scene that already includes VelaFi, which offers a banking alternative to moving money in Latin America, and Tapcheck, which enables workers to withdraw a portion of their wages before payday. Both are based in Plano.
Among other North Texas fintech startups are Nada, which offers a home-equity-backed debit card, and Yendo, which provides vehicle-secured credit cards. Both are based in Dallas.
How the accelerator works
The fintech coalition said the annual accelerator will select up to 15 fintech startups from an expected pool of more than 300 international applicants. The accelerator started accepting applications Oct. 6 for its first cohort.
Boston-based MassChallenge, which will run the accelerator, recently established its second U.S. headquarters in Dallas, thanks to financial support from Lyda Hill Philanthropies. MassChallenge’s Dallas office, located at Pegasus Park, focuses on health care, life sciences, cybersecurity and AI.
The coalition’s work extends beyond the accelerator, though. Offerings will include the SMU Cox FinTech Summit, year-round executive forums and networking opportunities, the coalition said.
“The SMU Cox FinTech Coalition gives us an opportunity to bring the innovators, financial institutions, investors and talent shaping the future of financial services together here in Dallas, with national reach and impact,” Taylor said.
R E A D N E X T
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