Innotribe announces semi-finalists for 2015 startup challenge

Innotribe announces that it has selected 60 companies, out of the 370 early-stage and growth-stage startup applicants, to participate in the 2015 Startup Challenge.

Launched by SWIFT in 2011, the Innotribe Startup Challenge bridges the gap between the financial services industry and today’s brightest startups, by organising regional showcases around the world.

Over 500 judges from across the financial, technology, and investment communities evaluated all 370 applications, assessing the startups’ ability to provide an important innovation in the future of the financial industry and ultimately narrowed the selection process to this year’s 60 semi-finalists. These companies will get the opportunity to pitch their new products during the regional showcases in London (22 April), Cape Town (6 May), Singapore (28 May) and New York (18 June).

“For the second consecutive year, we are thrilled with the record number and calibre of the startups applying to our programme.” says Fabian Vandenreydt, Head of Markets Management, Innotribe and the SWIFT Institute at SWIFT. “The regional showcases represent a unique platform for discussion, debate, and high-level networking for our community and are a great opportunity for the startups to meet face to face with potential investors, partners and customers. We are excited to start this year’s journey and look forward to seeing the startups pitch their innovative products with determination during the regional showcases.”

As a part of the programme, each semi-finalist will receive complimentary coaching sessions with seasoned entrepreneurs to give them advice ahead of the formal pitches to a select audience of judges from across the financial services industry.

“What really sets the Innotribe programme apart is the coaching we give the startups in how to engage the more established financial services providers.” said Mike Sigal, Lead Coach since the inception of the Startup Challenge in 2011. “There’s a chasm between how startups and banks practice innovation, and helping our startups understand how to communicate their value propositions to SWIFT’s community helps banks quickly evaluate new technologies and models, and helps our startups identify appropriate partners and investors.”

A hand-picked audience of financial services experts, angel investors, venture capitalists, and global bank decision-makers will attend the different showcases and vote for the top five companies of their choice. Across the four showcases, the audience will select 20 companies to participate as finalists in the Innotribe Startup Challenge Grand Finale, which will be held on 14 October 2015 at Sibos in Singapore.

Some of the finalists representing Hong Kong and Singapore include:

Startup Name – Country – Key innovation

  • Bitspark – HK – Global bitcoin exchange
  • Coinsimple – HK – Bitcoin invoicer + wallet
  • Gatecoin – HK – Bitcoin trading institution
  • Monexo – HK – Lend & Borrow P2P
  • Quantifeed – HK – Scaling wealth management
  • Robur InvestmentResources – HK – Equity investment data
  • Codapay – SG – Cashless cardless payment
  • goSwiff – SG – Mobile POS solutions
  • Jewel Paymentech – SG – Payment Solutions Advisory

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