What Does it Take to Get into Curql Accelerate?
Written by Rowan HumeIn April earlier this year we wrapped up the very first Curql Accelerate powered by gener8tor. It was one of few programs in close to five years of working on gener8tor accelerators where I haven’t felt like I needed a little time to refresh after we wrapped. As we just kicked off our second cohort last week (as I’m writing this), it’s called for a bit of reflection on why I felt so ready to do it again and to look at a few patterns across the ten companies that we’ve worked with thus far.
Don’t get me wrong, there were a lot of lessons learned the first go-around and likely the highest level of imposter syndrome I’ve ever felt. I’m still relatively new to venture, very new to focusing just on fintech and absolutely green to credit unions (CUs). But it’s energizing to think about how much my CU-specific network has expanded, how much savvier of a CU mind I’ve become, and how the industry overall has been so welcoming. You can also chalk it up to maturing, having a stellar program manager (shoutout Caroline!) to share the load *insert Samwise gif* and the outstanding support of our partners in Curql.
Regardless, the quality of founders in these first two programs has been top notch, and the hand-on support from our credit union hosts (thank you MSUFCU, VyStar, WSECU, Coastal, Affinity Plus and Desert Financial!), is a prolific match. Just ask me about the outcomes from this first program if you’re curious, and keep a close eye on how our current group will make a similar splash as we’re already underway with cohort #2!
So, how did we decide on our first two groups of companies and how can you know if you’re a good fit for the next round?
How to Know if You’re a Fit
The first and most easily defined is really simple and it has little to nothing to do with your stage. Are you a fintech and are you interested in delivering your technology to credit unions? That’s the first line, whether you’ve raised $40M or if this would be your first $100K.
Now here are some other considerations that can get a little hazy:
Traction for instance, can vary in weight depending on the perspective. The Curql team is going to be most attracted if you’ve done some active exploration and validation with credit unions themselves. From the broader investor side of things, if there’s applicability to tangential spaces (e.g. community banks, fintechs, etc.), that offers a bit of market resilience, optionality and of course room for even more growth.
Your business model or delivery model is considering who your solution is pointing at, B2B or B2B2M (to member). Credit unions tend to focus innovation and tech adoption in two broad categories: (1) adopting operational efficiencies that give them the headspace to focus on higher value revenue opportunities such as growing membership or non-interest income or (2) improving aspects of how a member experiences and interacts with the credit union directly to increase loyalty and drive share-of-wallet. If you can’t frame your masterpiece into one of those two, it’s likely not going to draw as much attention in the context of this program.
How timely your solution is relative to the industry's most pressing problems is a significant factor. There’s variation in the trends credit unions are solving from quarter to quarter and, in some cases, day to day on the ground floor. To get tangible, there’s some potential money on the board for solutions targeting topics such as fraud (e.g. Casap, IDgo), wealth building and transfer (e.g. Peacefully, Penny), member experience (e.g. Ranqx, Spiral, Traduality) and data and vendor management (e.g. Coverbase, Gestalt, Privacy Lock,).
Lastly, and also a bit gray (but the most important) is team. Across 100% of investments, this is a major consideration. There has to be a foundation for a positive relationship, mutual respect and mutual conviction. We’re working together very closely for three months and hope to have a strong ongoing relationship after our week to week activities conclude. We want to work with good people from diverse backgrounds and both sides have to vibe.
Want to be Considered?
You, of course, are not expected to have to have all of this sorted from the get-go. This program is designed to expose you to how credit union decision makers are thinking and what their institutions are thinking about. Through that exposure, we hope to help you with a portion of your success.
Interested to learn more about Curql or gener8tor? I encourage you to explore our websites (gener8tor.com and curql.com) or reach out to me (rowan@gener8tor.com) to learn more. Applications for third cohort in the Spring of 2025 are now open. You can apply here.
About Curql
Curql Collective is a collaborative ecosystem of progressive credit unions and innovative fintech. Through a family of funds, including Curql Fund I, Curql Fund II, and Curql Accelerate, Curql strategically invests in the visions of entrepreneurs to bring transformative technology to credit unions to revolutionize how credit union members engage with financial services in the digital age. As the on-ramp to fintech collaboration and innovation, Curql connects credit unions with the future of the credit union industry. For more information, please visit www.curql.com
About gener8tor
gener8tor is a nationally ranked global venture firm and accelerator network that supports startups, workers, employers, artists and musicians across race, place and gender. gener8tor partners with companies, governments, universities and nonprofits to operate accelerator programs and conferences in more than 46 communities across 22 states and three countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022. The International Trade Council recognized gener8tor as the Global Venture Capital Firm of the Year in 2022.
