BMO Launches Fintech Accelerator at DMZ

BMO Financial Group and the DMZ at Ryerson University announced this week that they are extending their partnership.

The extension comes in the form of the DMZ-BMO Fintech Accelerator.

The goal of the program is to foster innovation and growth for financial technology startups and identify ideas BMO can integrate and scale.

“Innovation and continuously evolving with our customers’ needs is a constant driver for all that we do at BMO, which is why this expanded partnership with the DMZ is a natural fit,” said Andrew Irvine, Head, Canadian Business Banking & BMO Partners, BMO Bank of Montreal. “The talented entrepreneurs that we get the chance to work with through this program have so much to offer to our industry.”

The four-month Toronto-based accelerator will incubate six entrepreneurs and provide mentorship from BMO leadership.

“Partnerships in fintech are a key element to building innovations that offer opportunities to benefit Canadian consumers and businesses alike,” said Abdullah Snobar, executive director of the DMZ at Ryerson University. “The DMZ-BMO Fintech Accelerator not only signals a desire to facilitate a dynamic financial services sector, but will also provide the country’s best tech startups with the opportunity to receive critical resources to help grow their business.”

Fintech companies across Canada are invited to apply before June 25 for one of the six placements, which will be awarded to companies that would be most likely to benefit from a period of incubation at the DMZ.