A step-by-step startup selection mechanism for fintech accelerator program

Fintech accelerators are widely available on the market of FinTech industry which is of great interest to Russia as well, especially in the context of the digital economy being developed. Nevertheless, there is the lack of studies on the operation of fintech accelerators. The authors suggest considering one of the many issues that is the process of selecting startups for the accelerated program. Based on the analysis, they present a step-by-step mechanism for selecting startups for fintech accelerator program. In the authors’ opinion, the above-mentioned selection mechanism should include following steps: receipt of acceleration application; initial check against the formal and basic requirements; detailed verification of the acceleration application; discussion of the acceleration application at the Fintech Accelerator Council and decision-making on its support (rejection); conclusion of the acceleration agreement between startup and fintech accelerator.