Startup in Residence The Hague 4.0 - Meet selected startup - FWDpay

Startup in Residence The Hague 4.0 is in full swing. On September 5th, seven startups were selected for the programme. They will co-create their solution with the City of The Hague the coming months. In the next few weeks, we will introduce each of the startups. Today, we’d like to introduce FWDpay, who is working on the challenge “Optimize financial support for adolescents with a mild intellectual disability (MID)”.

FWDpay has a solution to help adolescents with MID get control over their money. The startup wants to tackle impulsive buying behavior and stimulate financial awareness. FWDpay’s solution challenges adolescents with MID to think before they act, by setting specific conditions for their own spending.

FWDpay was established during a hackathon and would like to become the ‘Gatekeeper for Open Banking’. Regulations regarding PSD2 and Open Banking provide various possibilities and FWDpay is one of the first parties to respond to this. Founder, Martijn Lukaart, and co-founder Edwin Bos, are childhood friends and have both been doing business for over a decade. Martijn is a true serial entrepreneur and idea machine. Edwin is a communications specialist with experience in financial reporting and sustainability management. In line with ImpactCity’s mission, this startup is all about doing good and doing business.

“We are passionate about tech and financial social issues and our mission is to give people more control over their money. Whether it is about improving declaration processes, providing benefits more efficiently or giving people access to their bank account based on their own pre-specified conditions. The possibilities are endless.”

FWDpay believes that good cooperation between government and young companies will contribute to gaining new insights into the topic. Their aim is to further build on the wider deployability of their solutions within the entire government.
“The Startup in Residence programme gives us the opportunity to get in touch with many stakeholders. The program is literally and figuratively a ‘deep dive’ and the feedback we get is worth gold. If we can contribute significantly to reducing the debt problem with our solution and give more people control over their own money, then we are well on our way with our mission.”

Startup in Residence, an initiative powered by ImpactCity, is a new way of connecting the City of The Hague and startups. Through this programme, the municipality of The Hague is looking for and invests in startups with innovative ideas that tackle challenges in the city. The programme supports startups in co-creating and developing their prototypes with civil servants and exploring future business models together.

Do you want to build your business and make an impact in the city with your solution? Keep an eye on www.startupinresidence.com, as new challenges will be launched in November!