LEAP Subsidiary PROTO Accelerator InsurTech Now Selecting First Startup Cohort Among Strong International Competition
LANSING, Mich. – Following an October 2018 program launch, PROTO Accelerator InsurTech has just closed the 2019 application process. Notably, international interest in the program is high, with two-thirds of applications received coming from outside the U.S. This new interest from abroad has yet to be seen among other established Michigan accelerators, which has the potential to offer PROTO InsurTech program founders the Lansing Economic Area Partnership (LEAP), Delta Dental and Farm Bureau a possible competitive advantage in the Michigan tech and insurtech startup space over the coming year.
“We are really excited about the level of competition we are seeing among the applicants. Given the trend has been predominantly domestic among other Michigan accelerators, we were also pleasantly surprised by the level of international interest,” said Tony Willis, President of PROTO Accelerator. “The Lansing region is already on the map when it comes to insurance industry muscle, with insurance giants like our founding partners Delta Dental and Farm Bureau well established here. Now that PROTO InsurTech is in place, it appears that this first cohort is poised to define the next phase of cutting-edge innovation within Michigan’s insurance industry and beyond.”
PROTO InsurTech emerged as a result of LEAP’s efforts to increase venture capital (VC) funding opportunities in the Lansing region. Within the VC realm, the FinTech/InsurTech verticals represent 30 percent of deal flow. Given Lansing’s position as Michigan’s insurance hub, LEAP jumped on the opportunity to bring insurance industry partners together to launch PROTO InsurTech and connect Michigan’s rapidly growing insurance cluster to insurance technology (insurtech) startup companies. PROTO InsurTech’s first cohort will be in announced in January, with the program running March-July 2019.
For more information about PROTO Accelerator InsurTech visit protoaccelerator.com.
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About LEAP
The Lansing Economic Area Partnership (LEAP) is a coalition of area leaders partnering to build a stronger community for all—working every day to grow, retain and attract business.
Category: Press Releases, Entrepreneurship, PROTO Accelerator