MSU Research Foundation, MSUFCU and MSU Join Forces to Launch Startup Accelerator for Finance and Insurance
Applications open in December for new startup accelerator offering programming, mentorship, and investment opportunities for finance and insurance entrepreneurship.
EAST LANSING, MI — A new program organized by the Michigan State University Research Foundation, MSU Federal Credit Union (MSUFCU), and the Eli Broad College of Business Insurance and Risk Management Program aspires to reshape the landscape of finance and insurance entrepreneurship in Michigan. This collaboration is launching the Conquer Finance and Insurance Accelerator, an initiative aimed at advancing Michigan as an epicenter for innovation in the finance and insurance sectors.
“This is an exciting time for the Conquer Accelerator program,” said Tom Stewart, Director of Venture Programming at Spartan Innovations, a wholly owned subsidiary of the MSU Research Foundation. “While our Conquer program has been successfully launching new startups in a variety of industries for eight years now, this finance and insurance track marks the first time we’ve collaborated with such strong partners.”
The Conquer Finance and Insurance Accelerator program builds upon the combined expertise of MSU and MSUFCU and harnesses the track record of Spartan Innovations in entrepreneurship programs. With a vision of transforming insurance and financial service startups into thriving enterprises, this industry-specific accelerator program has the capacity to open doors for aspiring entrepreneurs in Michigan.
“MSUFCU is deeply committed to fostering innovation and entrepreneurship,” said Ben Maxim, Chief Digital Strategy and Innovation Officer at MSUFCU. “The Conquer Finance and Insurance Accelerator represents a powerful opportunity to support and nurture the next generation of finance and insurance leaders.”
Michigan has a thriving insurance industry, making it an ideal location for a finance- and insurance-focused accelerator program. The program is highly selective, with only five teams chosen to participate in each cohort. In addition to startup programming and mentorship, teams also receive investment support from MSU Research Foundation venture investment subsidiary, Red Cedar Ventures, upon successful program completion.
“Michigan State University is dedicated to empowering entrepreneurial minds and driving economic growth,” said Frank Freund, Director of the Insurance and Risk Management Program at the Eli Broad School of Business. “We believe that the Conquer Finance and Insurance Accelerator will play a pivotal role in propelling the state’s finance and insurance sectors to new heights.”
The Conquer Finance and Insurance Accelerator will begin accepting applications in January 2024, with the program officially launching March 11, 2024. The program will follow a hybrid format, with its initial week held in East Lansing, Michigan, providing participants with access to the rich resources and networks of the region.
For more information about the Conquer Finance and Insurance Accelerator and details on how to apply, visit msufoundation.org/conquer-fintech.
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About the Michigan State University Research Foundation
The Michigan State University Research Foundation was established in 1973 as an independent nonprofit committed to the commercialization of cutting-edge technologies invented by MSU faculty, staff, and students. Today, the MSU Research Foundation is focused on enhancing research, encouraging innovation and entrepreneurship, and facilitating economic growth at MSU and across the state through its subsidiary organizations—Spartan Innovations, Red Cedar Ventures, and Michigan Rise Pre-Seed Fund III—and its Research Parks.
About MSUFCU
Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the sixth year, a Top Workplace by the Detroit Free Press for 13 consecutive years, and a National Best and Brightest Companies to Work For® winner for seven consecutive years. MSUFCU has also been certified as a Great Place to Work® for 10 consecutive years and has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. The Credit Union operates an award-winning, wholly owned credit union service organization, Reseda Group, along with digital financial platforms AlumniFi and Collegiate, trade name Oakland University Credit Union, and its foundation, the Desk Drawer Fund. MSUFCU is headquartered in East Lansing, Michigan; and has 23 branches; over 350,000 members; $7.61 billion in assets; and more than 1,100 employees. For more information, visit msufcu.org.
About the Broad College of Business Insurance and Risk Management Program
The Insurance and Risk Management Program at the Broad College of Business at MSU provides students with a thorough understanding of risk management, both from a personal finance perspective as well as from a business perspective—Enterprise Risk Management. Risk management and knowledge of insurance are critical skills essential to all business executives. The Minor in Insurance and Risk Management, administered by the Department of Finance, provides the student with fundamental knowledge of risk management skills and the application of insurance to effectively manage risks. This minor also provides an effective introduction to the insurance industry, teaching the fundamental concepts, coverages, operations, and financial aspects of the industry. The minor is a valuable addition to any business degree/career allowing the student to better identify and manage risk in any industry or at a personal level, and to understand key insurance concepts.