The City of Arlington, First Rate, Inc., an Arlington-based financial technology and services provider to the wealth management industry, and other sponsors including SEI® are partnering with The Founders Arena to bring the first global Founders Arena WealthTech Accelerator to the City of Arlington.
The Founders Arena WealthTech Accelerator is a 10-week intensive program designed to meet the specific needs of early to growth stage startup entrepreneurs, connecting them with potential customers and investors, and supporting the creation of innovative products that banks and wealth management companies can use to better serve their clients.
Applications for the program are open through July 15, 2023, through The Founders Arena website, and the first cohort of participants will be announced later in the Summer, with the program commencing on Sept. 4. During the program, participating startups will have access to networking, funding, training and mentorship from the program’s Executive Ambassadors, a network of industry experts with decades of experience building companies in the financial services sector.
“The Founders Arena WealthTech Accelerator is on a mission to help entrepreneurs succeed,” said Pamela Cytron, The Founders Arena president.
"Equally as important is helping the community succeed - we intend to go beyond the role of a traditional accelerator by actively involving the local community here in Arlington. We are grateful for the strong partnership of The City of Arlington and our strategic partners, and look forward to welcoming the first cohort of startups in September.”
The program will consist of a combination of remote and in-person programming, to be headquartered out of the new First Rate, Inc. campus on Ascension Boulevard in North Arlington. The Arlington Economic Development Corporation recently approved a three-year performance grant of up to $1.5 million for First Rate, which recently completed nearly $950,000 in renovations to its campus. The facility, which offers 17,650-square-feet of coworking space for lease, will play host to the accelerator participants for the duration of the program.
“The Arlington Economic Development Corporation is excited to partner with First Rate and The Founders Arena to launch this innovative new program, a first of its kind not only for Arlington but globally. Our Strategic Plan highlights the need for more support for entrepreneurs, and we feel this sends a strong message to the community that Arlington wants to help grow innovative companies right in our own backyard,” said Broderick Green, Arlington Economic Development Corporation executive director.
With an annual performance grant of $500,000 from the Arlington Economic Development Corporation, First Rate will sponsor at least two cohorts through The Founders Arena WealthTech Accelerator annually, retain its 72 existing jobs in Arlington and create a minimum of 14 new jobs by next April. Additionally, the accelerator will host technical assistance workshops, student hackathons, networking events and collaborate with local school districts, Tarrant County Community College and The University of Texas at Arlington to create financial technology programs for Science, Technology, Engineering and Math (STEM) students. The accelerator is expected to attract hundreds of global executives to Arlington annually who will lend their expertise to the startups and participate in community programming.
“We look forward to bringing this accelerator program to Arlington to help more early-stage entrepreneurs achieve their American Dream,” said Trina Stone, Owner and Executive Chair, First Rate, Inc., “The wealth management industry is in need of innovative technology solutions, and the next generation of companies moving the industry forward will be built right here in Arlington.”
About The Founders Arena
Founders Arena, Inc. (TFA) is an innovative WealthTech accelerator based in Arlington, TX. TFA is dedicated to supporting early-stage WealthTech companies globally and provides resources, mentorship, and collaboration opportunities. It goes beyond traditional accelerators by actively engaging the local community and the City of Arlington. Through mentorship programs, workshops, hackathons, and networking events, TFA creates meaningful connections and fosters a supportive environment for innovation and entrepreneurship. By blending startup acceleration and community involvement, The Founders Arena aims to significantly impact the WealthTech industry and contribute to Arlington’s business community.
About City of Arlington
Arlington, the 50th largest city in America, is a global community and has been recognized as the 5th most diverse city in the country. As a premiere entertainment destination, Arlington attracts nearly 14 million visitors each year and is home to Six Flags Over Texas and Hurricane Harbor, Texas Live! and four professional sports franchises: the Dallas Cowboys, the Texas Rangers, XFL’s Arlington Renegades and the WNBA’s Dallas Wings. The City, positioned at the center of the Dallas-Fort Worth Metroplex, is also proud to be the home of The University of Texas at Arlington, General Motors, D.R. Horton and a host of global, domestic and family-owned businesses. Quality of life in The American Dream City second to none, with a low cost of living, affordable housing, rich educational and culture opportunities, nationally recognized recreation facilities and 4,600 acres of parkland.
About First Rate, Inc.
First Rate Inc, a women-owned business that has been operating in the City of Arlington since 1991 and serves 10 of the largest 20 banks in the United States, plus over 300 community banks and financial institutions worldwide. First Rate exists to help wealth management companies grow and thrive as stewards of their clients’ investments. Our innovative services and solutions help financial firms create absolute transparency, enhance efficiency, and empower advisors to create more meaningful and intelligent investment strategies for their clients. It’s technology as it should be.
About SEI®
SEI® (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help power growth, make confident decisions, and protect futures. As of March 31, 2023, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.