Grange Insurance joins launch of Fintech71

Posted on May 03, 2017

Fintech71, an Ohio-based global financial technology accelerator got its name from the cross-state highway I-71 that runs through Ohio’s three largest cities: Cincinnati, Columbus and Cleveland.

As part of its commitment to furthering innovation in the insurance and finance industries, Grange Insurance has become a flagship company in the launch of Ohio-based Fintech71, a global financial technology accelerator.

This is an unprecedented cross-industry partnership, which also includes key Ohio leaders such as JPMorgan Chase, KeyBank, Progressive, The Kroger Co., Huntington Bank, Fifth Third, First Federal Lakewood and Safelite AutoGlass. In addition, Silicon Valley Bank and SunTrust are providing support for the effort.

Fintech71 will focus on growing entrepreneurial activity, attracting more Fintech companies and expanding the innovation pipeline for current private-sector stakeholders.

“Grange believes strongly in investing in and creating value for Ohio’s economy, its people and communities,” said John Ammendola, president and CEO of Grange Insurance. “We’re proud to support the Fintech71 accelerator because we know that innovation is vital to Ohio’s continued economic success.”

“With the creation of this accelerator, we aim to leverage Ohio’s tech-savvy talent, attractive cost of doing business and established industry strength to make Ohio a global hotspot for Fintech innovation and growth,” said Matt Armstead, the executive director for the accelerator.

All Fintech-related innovations ready for commercialization are encouraged to apply. The application process opens May 15 and closes July 15. And the inaugural class of up to 12 companies will start on Sept. 10 in Columbus, Ohio. International companies are particularly welcome to apply, and visa support will be provided for outstanding candidates.

Financial services is the second-largest private sector in Ohio and sixth largest in the United States by GDP. As part of its mission to attract jobs and investment to the state, JobsOhio, a private, non-profit economic development corporation, will provide support to the accelerator’s operations. Lumos, a group of serial entrepreneurs with vast experience in accelerators and insurance, banking and payments startups, will run the program day-to-day.

Additional details are available at: