FINANCIAL PLANNING.

• Author: Martin, Cathy
• Position: STATEWIDE: Charlotte

Up until about five years ago, Charlotte wasn't a place many people considered as logical to launch a new technology company. "Some tech leaders came forward. They said, 'We have this tech community, and no one knows we're here. We're bleeding talent,'" says Dan Roselli, co-founder and managing director of Queen City Fintech, a business accelerator for financial-technology startups.

Fast forward to 2018, and homegrown companies such as LendingTree and AvidX-change have put the Queen City on the map for financial technology. Roselli, who in 2010 co-founded Packard Place, Charlotte's original co-working space, wants to promote the city's developing fintech scene with his latest for-profit venture. Fintech is one of the hottest tech sectors, with more than $12 billion invested in financial-related startups through the third quarter of 2017, according to research firm CB Insights. Queen City Fintech has lined up more than two dozen sponsors, including Bank of America, Wells Fargo and Ally Financial.

Here's how it works: Startups from all over the world apply to become part of a cohort, usually about 10 companies. The startups each receive a $20,000 grant and space in Packard Place for a year. More than 200 mentors advise the startups, including bankers, business-development professionals, venture capitalists and attorneys. Participants attend a 12-week onsite program, ending with a demo day when they pitch their ideas to potential investors. Partner Extended Stay America, a Charlotte-based hotel chain, provides housing, while American...