BOULDER, Colo. - Techstars, the global platform for investment and innovation, and ABN AMRO have agreed to a three-year partnership to accelerate innovation through a Techstars accelerator program. The partners will focus on identifying and supporting innovative startups that transform financial services in business and life.
Aligning with the ABN AMRO purpose of Banking for better, for generations to come, the program is an investment in the startup and innovation community to help shape a brighter and more sustainable future for ABN AMRO clients and society.
The collaboration will connect ABN AMRO with Techstars’ unmatched global network of founders, mentors and subject-matter experts and help the company to accelerate digitization and innovation and deliver its strategy. Through the mentorship-driven accelerator program, Techstars and ABN AMRO will recruit and support the most promising early stage companies that are revolutionizing the financial industry.
“Financial services and technologies underpin so much of what we do in business, life and socializing today,” said Keith Camhi, senior vice president of accelerators at Techstars. “Partnering with an innovative and engaged company like ABN AMRO will allow us to continue to tap the immense sector expertise we have in our global network and help entrepreneurs bring to market solutions that will enhance lives, improve how businesses operate and help secure a more sustainable world for people everywhere.”
The first year of the accelerator program will kick off early next year in Amsterdam. Applications will officially be open from September 14, 2020. Selected start-ups will work closely with Techstars’ program team and vast mentor network, and actively supported by ABN AMRO through the innovation team, subject matter experts and connections to its network of clients. Accelerator graduates that deliver the most promising digital innovations will have possible opportunities to partner with ABN AMRO for scale and gain access to its expansive client network.
“Working with the startup ecosystem is crucial for ABN AMRO’s innovation journey,” said Edwin van Bommel, Chief Innovation Officer at ABN AMRO. “Our aim is to be at the forefront of innovation in relevant ecosystems related to financial services, supporting startups to become leaders in their field and allowing us to build out our leading position in innovation as well. We believe combining their innovative products and services with the expertise and scale of an established company will accelerate both of our dreams and ambitions. Partnering with a leading accelerator like Techstars allows ABN AMRO to find and connect with the best startup teams in the global innovation ecosystem.”
Accelerator program timeline for the ABN AMRO and Techstars partnership:
September 14, 2020 – Applications Open
January 2021 – 10 companies selected
March, 2021 – Start ABN AMRO & Techstars Accelerator
June, 2021 – Demo Day
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 2,500 companies with a combined market cap of more than $220B. www.techstars.com
ABN AMRO serves clients in the retail, private banking and corporate banking sectors. Our primary focus is on Northwest Europe. We offer clients in the Netherlands an extensive and comprehensive range of products and services across a variety of channels, including our Mobile Banking app and Internet Banking. ABN AMRO possesses a clear and bold purpose: banking for better, for generations to come. The bank’s impact on society and on the economy is tremendous, and for our contribution to be both positive and enduring we need to make the right choices. Everything that we do derives from our purpose: now and in the future.