Jim McKelvey, the creator of SQUARE, has taken his entrepreneurial spirit into a new venture that focuses on developing technologies for the financial services space. McKelvey recently announced the creation of SixThirty, which will be headquartered in St. Louis.
The financial services accelerator will make four $100,000 investments each fall and spring in financial-based technology startups. The companies that are accepted to the four-month accelerator program will receive mentoring, support, and networking with top financial services companies.
St. Louis is a hot region for startups, but financial-related startups specifically. Home to Edward Jones, Scottrade, MasterCard, Stifel Nicolaus, and CitiMortgage, McKelvey’s hometown seemed like the perfect place for SixThirty.
“It is obvious that St. Louis has certain advantages compared to other cities, namely a concentration of financial services – just add them all up,” says McKelvey. “The city is a customer- and partner-rich environment for any financial tech startup.”
True, the lack of coding and engineering talent in the St. Louis area did force McKelvey to relocate SQUARE to San Francisco. But that is why SixThirty is so important for the city; they will bring entrepreneurs looking to build long-term companies to St. Louis.
Currently, SixThirty is accepting their first group of applicants for the first class slated to kick off on September 6, 2013. And if you were wondering, the name SixThirty refers to the dimensions of the St. Louis Gateway Arch: 630 feet high and wide.