2020 Western Union Accelerator Powered by Techstars applications open

Money By Margaret Fogarty January 6, 2020

Kicking off its second year, the 2020 Western Union Accelerator Powered by Techstars is now actively seeking applications from startup companies from around the globe with big, bold, innovative ideas for payment technology and cross-border money movement solutions.

The Western Union Accelerator Powered by Techstars will support entrepreneurs in developing innovative solutions to some of the industry’s biggest challenges including machine learning, artificial intelligence, crypto and blockchain technologies, analytics and omni-channel platforms, while leveraging the creative and agile thinking of fintech’s brightest minds.

How it Works

Each year, Western Union and Techstars evaluate hundreds of companies and invite a select group of ten to join a three-month mentorship-driven accelerator class. The selected companies receive a capital investment, hands-on mentorship, access to Western Union executives and the Techstars worldwide network of founders, investors, mentors, and industry leaders. For 13 weeks the startups work on location in Denver to gain traction, accelerate their businesses, and grow their networks to help them do more faster. They emerge from the program stronger, bolder and better prepared to drive innovation in the global economy.

“Western Union is excited to kick off the second year of its Payment Tech Accelerator program with Techstars,” said Tyler McPherson-Wiman, Western Union’s Head of Strategy and Innovation. “In 2019 we learned a great deal about how a large global company can work with startup companies and how infusing aspects of the startup culture can energize our organization.”

The 2020 WU Accelerator program is focused on three goals:

  • Leverage 2019 key learnings to accelerate interactions between Western Union and startups
  • Expand the reach of the program deeper into the Western Union organization
  • Embrace an enterprise mindset by looking for unique startups across the money transfer, payments and FI platforms markets

This year, WU and Techstars have adjusted the timing of the program, which will provide an additional month to recruit applicants and better aligns the timing of the program with Western Union’s business cycles.

Hear from some of the 2019 Western Union Accelerator Powered by Techstars Founders and Mentors discuss their experience in the videos below.