The 13 new accelerator launches in 2016 represent a significant slowdown from 2015 which saw 46 launches. The slowdown is due to new open innovation formats and organic innovation led by design thinking. US leads with 31 corporate accelerator programmes, the UK has 22 and Germany has 12 programmes.
When it comes to fintech sector, Asia is the dominant region as more than 3.000 companies are tackling payments, mobile wallets, currency exchange, remittances, credit scoring and other financial processes.
“There are an estimated 6.000 fintech startups around the world. This is not sustainable. The coming years will naturally see a weeding out process as startups face regulatory hurdles, merge with other players or simply run out of capital without gaining traction”, according to Falguni Desai, Founder and Managing Director, Future Asia Ventures.
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