Delaware Weekly Roundup: 6 New Companies Join CAFE Fintech Accelerator Fall Cohort

CAFE Fintech Accelerator Fall 2024 Cohort

The six startups that make up the latest cohort of the CAFE Fintech Accelerator gathered on Tuesday at the Fintech Innovation Hub on the University of Delaware’s STAR campus. Finance and wellness startups come from across the country for the eight-week program, attracting entrepreneurs to what Delaware has to offer.

One of them, national mobile advertising company Carvertise, is based in Delaware.

“We’re not really a startup anymore,” said Carvertise co-founder Greg Star. However, considering that the company is just starting to acquire large clients from the financial industry, he said that the accelerator creates an opportunity for even greater development.

CAFE Fintech focuses specifically on companies that improve the financial well-being of low- and moderate-income people. Carvertise’s model of plastering ads on ride-sharing and food delivery cars puts a percentage of the revenue in employees’ pockets.

The other five startups are social lending platform Giving Credit, credit education platform Kredit Academy, loyalty optimization manager Odynn, simplified digital vault Prismm and credit access platform Salus.

Startups will have a full demo day in November. Companies accepted into the program receive coaching, client development, investor and community support.

➡️ Learn how CAFE Fintech was created and meet the first group from earlier this year

Drone startup wins $10,000 pitch competition. dollars

Last year’s runner-up, Droneversity, is this year’s first-place winner in New Castle County’s annual Swim with the Sharks competition.

Droneversity, founded by Ashlee Cooper, is expanding its offering with a new drone light show as an alternative to fireworks.

“The investment in Droneversity will expand our brand as well as visibility in the marketplace with our drone light show offerings,” Cooper said.

Rehoboth Beach Coffee Rendezbrew took second place.

➡️ Read my report from the event related to the competition

The main investment trends of the year

How will investors and venture capital markets react to the presidential election? JP Morgan’s mid-year forecast provides insight into what this will mean for the innovation economy. It is one of several interrelated factors, including interest rates and other economic indicators.

See how they all come together for venture funding, investments, valuations and exit terms in a report from J.P. Morgan’s co-heads of the innovation economy, John Chin and Melissa Smith, who is also head of specialized industries in the commercial banking division this global company.

➡️ Read the report on the innovation economy prepared by experts in the field of startup banking

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Incubator News: What else is worth knowing today

• The next governor of Delaware will be an entrepreneur. One of the two candidates, County Executive Matt Meyer, told us why it’s important. (technicne.ly)

• As Delaware moves closer to licensed recreational marijuana sales, the state’s tobacco shops are selling illegal — and potentially dangerous — weed on the black market. (Delaware Public Media/Technical.ly)

• Dock workers strike in Delaware and beyond. Prices for consumers, business owners and farmers could rise if the problem is not resolved soon. (Delaware on the Internet)

• Goldey-Beacom College gets a boost when College Raptor artificial intelligence algorithms recognize small Pike Creek University as a “hidden gem.” (Delaware Town Square)

• Just in time for the spooky season, University of Delaware researchers have found a link between YouTube use and belief in the paranormal. (University of Delaware)

• Wilmington-based technology workforce development company Code Differently has hired veteran technologist Terrance Bowman as managing director. (LinkedIn/Technical.ly)

• Delaware State University is the first HBCU to launch its own brand of merchandise. Through a partnership with Everything Collegiate, DSU merchandise will be available on Amazon, Walmart and beyond. (DSU)

• The City of Wilmington just launched a new water website to make it easier for residents to manage their water services and billing – no more complicated payment pages! (City of Wilmington)

•Delaware residents can now order alcohol through services like DoorDash and Uber Eats, following the passage of SB-166. (Delaware black)

• Where is Microsoft’s “PC AI” initiative heading? The co-pilot can now see what you see and talk about. (Edge)

🗓️ In the calendar

• Sunday, September 29 to Saturday, October 5 – Wilmington Black Restaurant Week (Details)

• Thursday, October 3 – Creative Process Workshops with JaQuanne Leroy at AutoMat (Details)

• Friday, October 4 to Saturday, October 5 – 25th anniversary of the Short Film Festival at the Cinema Hall at 1313 (Details)

• Saturday, October 5 – Delaware Beer Fest at Frawley Stadium (details)

• Sunday, October 6 – Delaware Coastal Day Event at the Hugh R. Sharp Campus of the University of Delaware at Lewes (Details)

• Tuesday, October 8 – Taste and See the Lunch Market with the Wilmington Kitchen Collective at HB DuPont Park (Details)

• Partner event: 1682 returns on October 18 after the Covid pandemic. Held downtown at Five Below’s fun headquarters, the event is ticketed ($500-$650) and includes a full day of workshops, panels and more on the impact of artificial intelligence and innovation on scene technology. (Register)