Inicio AI selected to be part of Morgan Stanley’s 2023 global cohort of the Inclusive Ventures Lab
Fintech is a force for good with inclusivity at its core. In that respect Scottish fintech Inicio AI is leading the charge on many fronts.
First, their innovative proposition brings more financial inclusion for people who are facing financial hardship. By leveraging the power of AI and chat and a revolutionary chat interface, they can help people come out of debt and manage their finances in a better way.
Secondly, their CEO, Rachel Curtis is a real role model for female entrepreneurs, demonstrating every day that when it comes to fintech success, gender doesn’t matter. In an industry still very male dominated, diversity is paramount to bringing diversity in innovation with new thinking and new approaches.
For all those reasons, Inicio AI has recently caught the attention of global financial giant Morgan Stanley. Inicio AI's journey is a testament to the transformative power of technology and diversity in the world of finance.
The Inclusive Ventures Lab: Nurturing Innovation
One of Morgan Stanley’s core values is Commit to Diversity and Inclusion and they recently unveiled the latest global cohort of their Inclusive Ventures Lab, a programme aimed at supporting underrepresented founders of technology and technology-enabled start-ups. What makes this year's cohort stand out is not just its size, but the calibre of companies selected.
This year, 23 companies from North America, Europe, the Middle East, and Africa were chosen, effectively doubling the size of previous cohorts. These start-ups represent a diverse range of disruptive technologies, spanning industries like fintech, healthcare, sustainable solutions, customer service, supply chain management, recruiting, and cybersecurity. All those companies are at the post-seed to Series A funding stage and ready to make a significant impact in their respective domains.
FinTech Scotland worked with Morgan Stanley to help identify Scottish fintechs who would be a good fit for the programme. Inicio was one of them and was the winner of the Scottish pitching event organised by Morgan Stanley at the University of Edinburgh earlier this year.
A Major Investment and Much More
What sets the Inclusive Ventures Lab apart is the substantial support it provides to the selected start-ups. Each company in the cohort receives a substantial $250,000 investment (£250,000 in the UK) from Morgan Stanley. However, this financial backing is not everything companies will get. They also gain access to a wealth of mentorship opportunities and invaluable business-growth resources through Morgan Stanley's extensive ecosystem of both internal and external partners.
Meeting Inicio AI
Rachel Curtis, the CEO of Inicio AI, will be attending a panel at the Fintech Summit on Thursday, September 21st which will be chaired by Nicola Anderson, CEO at FinTech Scotland. This event marks the opening of the Scotland FinTech Festival, a platform showcasing the brightest minds and ground-breaking ideas in the fintech industry.