Applications Open for Third Annual WMNfintech, Women's Fintech Program from BMO and 1871

Rhea-AI Summary

BMO Financial Group and 1871 have announced the opening of applications for the WMNfintech program, aimed at supporting women-led startups in the fintech sector. Applications are accepted until April 22, 2022. The program, co-created to bridge the gender gap, provides resources, mentorship, and networking opportunities to help women entrepreneurs grow their businesses in the U.S. financial sector. Selected participants will receive a three-month program, access to 1871's resources, and the chance to pitch their ideas to investors.

Positive

• WMNfintech program supports women-led startups, enhancing diversity in fintech.
• Provides comprehensive resources including mentorship from industry experts and access to BMO's network.
• Opportunity for startups to pitch to investors and potentially pilot products with BMO.

Negative

• None.

• Women-led startups can apply through April 22^nd, 2022
• Target startups have a U.S. based product or service that supports the financial sector

CHICAGO, March 22, 2022 /PRNewswire/ - BMO Financial Group and 1871 today are issuing a national call for applications for their leading fintech industry program for women-led startups, WMNfintech. Applications for the 2022 program will be accepted through April 22^nd, 2022.

Developed by BMO to help bridge the gender gap in the startup community, WMNfintech was launched in 2020 and continues to provide women entrepreneurs resources, support and mentorship to accelerate their business' growth while diversifying their professional networks through BMO and 1871's community of expert advisors, technology partners and founders. This is the latest evolution of the BMO / 1871 Innovation Program and was co-created specifically for women-founded and women-led startups developing products or services for the U.S. financial sector.

"We're proud to work side-by-side with our longtime partner BMO to continue to expand this storied program," said Betsy Ziegler, CEO of 1871. "WMNfintech is an essential part of our commitment to creating a culture of belonging for women in technology. The long line of success stories that have come out of this program highlight how transformative it is when women founders are given the resources, support, and community of advocates they need to thrive."

"The WMNfintech program has experienced continued success and our network of alumni and supporters across the venture community are eagerly awaiting this year's cohort," said Andrew Harrison, Head, US Digital Partnerships, BMO Financial Group. "We've seen first-hand how this program can help drive meaningful growth for founders while offering an incredible opportunity to diversify their network with our partners and clients. This is a powerful opportunity to support innovation and the diverse customer-centric technologies that can transform the banking experience."

     The program will provide selected startups with:

• A three-month program with guidance from industry experts at BMO, including an executive champion who will offer leadership guidance
• Four-months complimentary membership to 1871, including access to their space, resources, and roadmap of support
• Curriculum focused on enterprise sales cycles, vendor management, information security and risk and regulatory requirements
• The opportunity to pitch investors for feedback, mentoring, continued connections and/or funding

Participants will also have access to 1871's structured yet flexible roadmap of support known as PYROS, which includes a 12-week series of workshops, shareouts, deep dives, and one-to-one mentoring built to help founders navigate startup fundamentals and propel them forward through every business milestone, from idea stage through product-market fit.

WMNfintech is an essential part of WMNtech, 1871's overarching affinity offerings for women founders and leaders in technology. Ranging from tailored and regular programming, mentorship, pitch competitions, and more, WMNtech serves women professionals from across the entire maturity curve and empowers them to succeed in every step of their career journey.

The program includes a pitch day designed for startups to gather feedback from and network with BMO senior executives. Participants may also have a potential future opportunity to pilot their product with BMO.

WMNfintech strongly aligns with BMO's commitment to women through its Zero Barriers to Inclusion Strategy. Learn more about BMO's support for women entrepreneurs and purpose to Boldly Grow the Good in business and life.

WMNfintech applications are due by April 22^nd, 2022. More information and the application can be found at: https://1871.com/membership/wmnfintech

About BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

About 1871

1871 is Chicago's technology hub and the #1 ranked private business incubator in the world. It exists to inspire, equip, and support early stage, growth scalers and innovators in building extraordinary businesses. 1871 is home to ~450 technology startups, ~300 growth stage companies, and ~1,500 members, and is supported by an entire ecosystem focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 100 partner corporations, universities, education programs, accelerators, venture funds and others. Since its inception in 2012, more than 650 alumni companies are currently still active, have created over 11,000 jobs, and have raised more than $1.65 billion in follow-on capital.

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SOURCE BMO Financial Group

FAQ

What is the WMNfintech program by BMO?

The WMNfintech program is a fintech initiative by BMO Financial Group and 1871, designed to support women-led startups in the financial sector.

When is the application deadline for the WMNfintech program?

Applications for the WMNfintech program are due by April 22, 2022.

What benefits do participants receive in the WMNfintech program?

Participants receive mentorship, resources, networking opportunities, and a chance to pitch to investors.

Who can apply for the WMNfintech program?

Women-led startups that have a U.S. based product or service supporting the financial sector are eligible to apply.

How does WMNfintech align with BMO's business strategy?

WMNfintech supports BMO's Zero Barriers to Inclusion Strategy by promoting diversity and inclusion in the fintech industry.