Leeds might not be known for its cutting-edge tech or business acumen, but that is all about to change.
Britain’s rapidly expanding fintech sector is getting its first accelerator outside of London as Dotforge launches their newest programme which aims to be up and running from early 2015.
The city is the headquarter for a number of financial companies, including First Direct and Yorkshire Bank.
The announcement was made at the Grand Départ International Business Festival ‘Forefront of Fintech’ event in Leeds.
Dotforge-ing fintech
The accelerator in Leeds is just the beginning for Dotforge, who have run accelerator programmes nearby in Sheffield since 2013, as they plan to build a network of six accelerators across the north.
Cofounder Lee Strafford explained:
We want to connect the supply chain of talent across the whole of the north to add value.
Financial support
Dotforge will to deliver three programmes of investment and support over the next three years and will be searching for up to 10 businesses to receive £50k of first-round investment.
There is also the potential for up to five of the companies to receive a further £50k in support.
Why Leeds?
Stafford explained that Leeds’ strengths in fintech and medtech were a big draw to the city.
We’re choosing Leeds because there are a number of head offices here, but just as importantly, it has the back offices as well.