Note from the Publisher: File this away......while the (metro) Goliaths of the world are out running around & assuming their ongoing leadership positions, the (metro) Davids sneak in and turn their worlds upside down (yeah, that analogy is a little out there). So - Silicon Valley, NYC, Chicago, ATL - all you BIG BOY MARKETS of FINTECH - watch out 'cuz here comes Little Rock! We're not joking. Little Rock has secured another 2 year commitment from financial behemoth FIS for its fintech accelerator. We're seeing more of this activity pop up in smaller city markets, such as this example and St. Louis' SixThirty fintech accelerator. Big cities beware. Lower taxes and cost of living can be very enticing for fintech startups.
"FIS™ (NYSE: FIS), a global leader in financial services technology, and the office of Arkansas Gov. Asa Hutchinson have committed to extending the VC FinTech Accelerator program until 2018.
Celebrating the inaugural program today with the Venture Center at the Clinton Presidential Library in Little Rock, Ark., Hutchinson and FIS president and CEO Gary Norcross agreed to share funding of the program through 2018. That means more early-stage startups will have the opportunity to develop and hone innovations that may disrupt the financial services industry and how consumers interact with it.
'Innovation in financial technology is happening at an incredible pace,' Hutchinson said. 'As one of the original homes of FinTech, it was important for Arkansas to continue pushing that innovation. We’re extremely proud that Arkansas and FIS could continue to support this wonderful program.'"
Read Full Press Release at BusinessWire