Southeast Shoutouts | Fuel Accelerator quietly gaining national attention
The participants in the the three-year-old Fintech|X Accelerator have generated nearly $60 million in revenues, raised more than $100 million in investment, and created nearly 500 jobs.
From Fayetteville, AR:
In the heart of the Northwest Arkansas region, a powerful economic development strategy has quietly been gaining national attention. It is not an incentive tax break or a flashy recruiting campaign. It is a homegrown, sector-specific accelerator that proves what is possible when start-ups, enterprise leaders, public partners, and ecosystem builders align with purpose.
Known as the Fuel Accelerator, the initiative was launched in 2018 by Startup Junkie Foundation and RevUnit. Fuel was built not as a vanity project or an import from the coasts but as a deliberate economic tool to support the state’s evolving innovation economy. Since its inception, the program has grown into one of the region’s most consistent and influential vehicles for venture engagement, capital formation, and high-value job creation.
The Startup Junkie Foundation, a nonprofit entrepreneurial support organization based in Fayetteville, laid the foundation for Fuel with the support of RevUnit, then a Bentonville-based, nationally recognized tech firm known for transforming enterprise operations.
Click here to learn more about the history of Fuel in this article from Arkansas Money & Politics.
From Miami, FL:
The Miami-Dade Innovation Authority (MDIA) is evaluating submissions from its fifth Public Innovation Challenge, offering at least $300,000 in funding to start-ups that can help improve waste diversion and reduce contamination in recycling efforts. The goal is ambitious: find new ways to shrink the amount of waste headed for landfills while making it easier for residents to participate in the process.
Leigh-Ann Buchanan, President and Chief Executive Officer of MDIA, sees this as an opportunity for Miami to take the lead in tackling waste issues with cutting-edge solutions.
“Reducing landfill waste and improving waste diversion is crucial to ensuring the continued health and well-being of Miami residents and fragile ecosystems – especially as our population continues to grow,” she says. “This challenge not only provides an opportunity for startups with cutting-edge solutions to make a real impact but also demonstrates our region’s leadership within the global resilience community.”
Meanwhile, MDIA awarded $100,000 each to four businesses that will use their technology to improve cargo operations at PortMiami. Argu Eye Ltd, Conbo.ai, GenLogs, and GridMatrix were selected as the winners and will integrate artificial intelligence, computer vision, and advanced analytics to optimize cargo tracking, terminal operations, and roadway congestion at the port.
From St. Petersburg, FL:
Approaching its fourth year, the Fintech|X Accelerator program has drawn start-up founders from across the United States and around the world who have gone on to generate millions in revenue while creating hundreds of jobs.
This successful partnership between the University of South Florida’s (USF) Muma College of Business and Tampa Bay Wave is also helping to establish the region as a hub for financial technology, or fintech. The term refers to the integration of technology into financial services. Online banking systems, crypto exchanges, and crowdfunding platforms are all examples of fintech.
The accelerator program began in April 2022 on the USF St. Petersburg campus and is designed to assist high-potential, high-growth start-ups in the fintech industry through mentoring, pitch coaching, and investment training. The goal is to transition start-ups to sustainable, scalable, and profitable businesses.
The 40 companies that have graduated from the program so far have generated nearly $60 million in revenues and have raised more than $100 million in investment while creating nearly 500 jobs, according to Richard Munassi, Director of Tampa Bay Wave’s accelerator programs.
Applications for the next cohort are due July 7. To apply, click here.
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