Save the date for 3686!

Save the date: Project FinTech First Look

Featured partner: The Nashville Entrepreneur Center, Project FinTech

What: The ~ 9 month accelerator, Project FinTech, kicked off on 8/02, and will culminate with a Demo Day showcase in late March. The vision is to help make Tennessee the best place in the country to launch and scale a Fintech startup.

Location: Tennessee

The latest from the team: Summer is in full swing, and so is Project FinTech! We’re thrilled to share the latest news and upcoming opportunities for our community to gather.

– Project FinTech received more than double the startup applications projected. This enthusiasm, when combined with overall applicant caliber, reaffirms the belief in the existing FinTech traction in our region, and the overall potential of this FinTech landscape. 

– Save the date: Join in for a First Look event on Tuesday, Sept. 19. This event is an official pop up event of the 3686 Entrepreneurship Festival, and will mark the first time the cohort gathers in person. The agenda includes light networking, and the highlight – a Pitch Showcase from our founders.

– Meet the Inaugural 2023-2024 Project FinTech Accelerator cohort — 

  • Ampersand | Founder: Kelly Brown, WI
  • Grounded | Founder: Danae Vachata, NY
  • Lendovative | Founders: Patrick True and Paul McCulloch, TN
  • Lumio Insight | Founder: Jeff Fink, VA
  • Nuestro Financial | Founder: Diego Eguiarte, TN
  • Parlay Protocol | Founders: Alex McLeod and Jay Long, VA
  • Plata | Founder: Miguel Alecio, NY
  • READYLIFE | Founder: Ashley Bell, GA
  • SpendCare | Founders: Perry Halman-Peguillan and David Young, TN

 

Failing Forward

Failing Forward with Project FinTech, as told by Jeff Fink, Founder of Lumio and member of the Project FinTech cohort:

​​In the world of startups, Jeff Fink, Director of Analytics of Lumio Insight, knows one thing for certain: launching a business from the ground up is an uphill battle. He encountered many challenges launching his ventures and striving for success in the early days, but his biggest failure was hiring the wrong people for key positions. 

“Wrong” in this context simply means that the potential team member is not aligned with the company’s identity in terms of its mission, vision, and core values.

In Fink’s early entrepreneur days, a mentor advised him that “the people you choose to join in building a new company will make or break the company more than he would, so choose those early team members and strategic partners very carefully.” 

Learning from his early experiences combined with the sage advice of his mentor, Fink modified his hiring and partnership approach to ensure that a person’s integrity weighed more heavily than experience.

From team members to strategic partners and even essential vendor relationships, all these pieces are crucial when a business is in its infancy. Fink understands that the problems created by a “bad fit” can be detrimental, setting off a snowball effect that may lead straight to business failure. He has walked that path himself, enduring the weight of setbacks.

Fink has discovered an approach to maximize success with calculated risk-taking in these key moments. He now focuses on examining a person’s background through the lens of their past relationships and references, amassing a wealth of information before making those key decisions. 

This thorough process has helped Fink realize the best predictor of a person’s character and integrity. 

Today, Lumio Insight has a team composed of individuals who embody these essential values. Jeff Fink has learned that well-aligned hires and partnerships can transform the demanding and stressful path of operating a startup into an exhilarating and fulfilling journey.

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