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Scooped by Huy Nguyen Trieu
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SXSW Competition looking for Fintech Startups

SXSW Competition looking for Fintech Startups | Disruptive Finance and Fintech | Scoop.it

"Of the 305 companies who participated in SXSW Accelerator between 2009 and 2015, over 63% received funding, with combined funding in excess of almost $2.613 billion (does not include undisclosed grants, angel and seed funding). Of these 305 companies, 13% have been acquired by the likes of Google, British Telecom, Huffington Post, Apple, Live Nation, OpenTable, Constant Contact, and Harmon."

Huy Nguyen Trieu's insight:

SXSW is one of the most high profiles events in tech and also runs the SXSW Accelerator during the conference. The name "Accelerator" is a bit misleading though, because it's not an accelerator in the way we think of it today: it's really a competition where startups go through their elevator pitch in front of a panel of judges. 

In terms of competition and networking, it's a great event for startups to increase visibility and to raise money from top VCs. Past judges are for example Tim Draper, Paul Graham, Mark Suster, Scott Weiss, Guy Kawasaki, etc. 

Until this year, Fintech was not represented in the competition, but Payment and Fintech is now a proper category for 2016 - another sign of the huge growth of Fintech. It is therefore a great opportunity for Fintech startups looking for funding (especially because most people wouldn't know about the Fintech stream, so less competition!). Deadline is 6 November


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Trends in Fintech Startups: Data, Payments, Lending and SMEs

Trends in Fintech Startups: Data, Payments, Lending and SMEs | Disruptive Finance and Fintech | Scoop.it

Fintech hackathons and competitions occur globally. In January 2012, Swift launched theInnotribe Startup Competition as an initiative to bring together disruptive startups and incumbents in financial services...

Huy Nguyen Trieu's insight:

Very interesting overview of the most popular sectors for Fintech startups (or at least those that manage to win events such as hackathons).

I am happily surprised by the number of startups involved in data analysis (which is one of the most promising opportunities in my opinion). I am not too surprised though by the large number of startups in payments, lending and SMEs, they are usually quite popular sectors. 

It seems that Blockchain is under-represented in the rankings, especially considering the huge noise in that space. 

And if there was one obvious category missing, that would clearly be insurance. They might be aggregated in "Others", but still it shows that the focus on Insurtech is still very low - this is certainly one of the interesting opportunities for startups in financial services.

If we take a step back, it's quite incredible that the writer found 186 winners across 18 Fintech competitions - how quickly the world has changed in just a few years, where there were not even 186 Fintech startups globally! There is definitely a healthy eco-system for entrepreneurs in Fintech today..

And on a separate note, very proud to be on the advisory board of  Trusting Social - one of the 4 startups mentioned (out of 186).


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What are Innovation Labs for?

What are Innovation Labs for? | Disruptive Finance and Fintech | Scoop.it
Start-ups are increasingly turning to large banks – the very institutions that fintech is supposed to be disrupting – for mentorship and money.
Huy Nguyen Trieu's insight:

Very interesting overview of innovation labs by Simon Mortlock with a few quotes from yours truly. 


I will not try to paraphrase the article but a few observations come to mind:

- Innovation labs are extremely useful to large organisations, as a way to interact with startups, get new ideas and source potential suppliers/investments. However, it seems that innovation labs are not that common yet (vs. corporate venture funds for example)
- For startups, I believe that units like innovation labs are a must. I previously wrote that working with a large company  can be a fatal experience for a startup and innovation labs are certainly a valuable entry point into the large organisations.

- Finally, if anyone doubted the interest of Fintech for bankers, then have a look at eFinancialCareers. It is the largest careers site for finance professionals, and Fintech articles are now commonplace  - whereas they were much scarcer even a few months ago.  


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