Adyen is inviting applications for its first North American accelerator event.
The financial technology platform said in a Wednesday (Feb. 15) press release that this edition of the Adyen Accelerator program is designed for startups that are focused on social impact initiatives in the United States, Canada and Mexico.
Applicants must be direct-to-consumer (DTC) businesses that have an impact on at least one of the United Nations Sustainable Development Goals, have an existing viable product that has launched in the North American market, be looking for support to scale and be in their pre-seed or Series A stage, according to the release.
The applications close on March 16 and the program is to run May 8-12 in Chicago, the release said.
“We are excited to kick off the first-ever Adyen Accelerator program in our innovative region,” Adyen North America President Davi Strazza said in the release. “This event creates a meaningful opportunity to equip social impact entrepreneurs to drive positive influence in our startup market.”
The Adyen Accelerator program has been held twice before — in Amsterdam in 2020 and 2022 — and is being held in Amsterdam and Dubai, along with Chicago, this year, according to the firm’s website.
In the North American edition, the weeklong program will offer participating startups partnerships with dedicated mentors, workshops, panel sessions, networking opportunities and an opportunity to showcase and get feedback on their products, according to the press release.
The program will conclude with a demo day in which participants can pitch their products to a panel of investors and Adyen board members. A winner will be selected and awarded a cash investment prize of $30,000 and mentorship from an Adyen partner, the release said.
“We believe that empowering their growth drives ethical business decisions, inspires social good and challenges peers to do the same,” Strazza said in the release. “It’s an honor to give back and support the scaling successes of these life-changing startups.”
This announcement comes about a week after Adyen said in an earnings report that it has been building its team as it operates on an increasingly global scale.
“While the wider tech industry engages in headcount reductions and hiring freezes, we remain committed to the hiring plans that align with our long-term ambitions,” the firm said in the Feb. 8 report.