NBKC Bank and the LaunchKC grants competition are partnering to launch Fountain City Fintech, a new accelerator program for financial technology startups. The accelerator will invest at least $50,000 in five early-stage companies, in exchange for an equity stake of between 2 and 4 percent, Startland News reports.
The 75-day program, which will be run out of NBKC, a Kansas City-based bank, will offer the companies office space, mentorship and other benefits.
It will be run by managing director Zach Anderson Pettet, a Kansas City startup advocate whose past stops include a stint at the financial technology startup Blooom, according to his LinkedIn profile.
The application process for the program opens Friday and runs through Aug. 15. The program’s first class starts on Oct. 1.