Singapore, May 17, 2013
Innotribe, SWIFT's initiative to enable collaborative innovation in financial services, selected five finalists from the Asia Pacific leg of its annual Startup Challenge to compete at Sibos 2013 in Dubai. Three early-stage start-ups, PassportFX, Pocketbook and z-crd and two growth-stage innovators GIEOM and V-Key delivered compelling pitches to an audience of the financial industry's leading angels, VC's and decision makers, held at InnovFest 2013, on May 16, 2013.
The three early-stage start-up finalists are PassportFX, a regulated clearing service for central and commercial banks; Pocketbook with an application to manage personal finance providing a single view on spending; and z-crd with a secure and scalable cloud-based transaction system.
The two growth-stage innovator finalists are GIEOM which interconnects banking operations providing information on business processes, screen simulations of IT systems, e-books of regulations and business performance; and V-Key with a liquid defence micro-vm to protect mobile applications against cyber-attacks.
As the top five finalists for the APAC Showcase, PassportFX, z-crd, Pocketbook, V-Key and GIEOM will now advance to the Innotribe Startup Challenge final to be held at Sibos, SWIFT's annual conference, in Dubai in September, to compete against finalists from the London and New York Showcases.
The Innotribe Startup Challenge saw 14 of the most promising FinTech and Financial Services start-ups present their businesses to an audience of dozens of the financial industry's most influential innovation executives, early-stage investors and press.
"We are delighted to have the Innotribe Startup Challenge at InnovFest 2013. It brought great dynamism and diversity to the event, as entrepreneurs and innovators pitched their products and solutions to the financial community. I'm also pleased to see that one of today's semifinalists is also a company that has emerged from our NUS entrepreneurial environment," said Dr Lily Chan, CEO NUS Enterprise.
Matteo Rizzi, co-founder at Innotribe said: "InnovFest was a great host for the Singapore Startup Challenge bringing together top industry professionals from around the region. We have seen some great pitches and the finalists should be proud of their achievements. We wish them the best of luck at Sibos Dubai later this year! It's a compliment to the Challenge, which I hope will continue to give some great businesses the platform they need in the industry."
The Singapore Startup Challenge was the second of three regional challenges to be held in 2013 and was sponsored by Invest NI, HP, Level39 and Sberbank. The New York Startup Challenge will be held on 13th June.
More information about the Startup Challenge, including the Singapore semi-finalists, is available at http://innotribe.com/2013-startup-challenge/.
Launched in 2009, Innotribe is SWIFT's initiative to enable collaborative innovation in financial services. Innotribe presents an energising mix of education, new perspectives, collaboration, facilitation and incubation to professionals and entrepreneurs who are willing to drive change within their industry. It fosters creative thinking in financial services, through debating the options (at Innotribe events) and supporting the creation of innovative new solutions (through the Incubator, Startup Challenge and Proof of Concepts (POCs). It is through this approach, the Innotribe team at SWIFT is able to generate a platform that enables innovation across SWIFT and the financial community. For more information, please visit http://www.innotribe.com/
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
About NUS Enterprise
NUS Enterprise is a University-level cluster that provides an enterprise dimension to NUS teaching and research involving the University's students, staff and alumni. The functions of the Enterprise Cluster complement the academic cluster of the University to nurture talents with an entrepreneurial and global mindset. NUS Enterprise promotes the spirit of innovation and enterprise through Experiential Education, Industry Engagement & Partnerships and Entrepreneurship Support. For more information, visit www.nus.edu.sg/enterprise
For more information, please refer to http://www.swift.com/ or contact:
Tel: +32 2 655 3377
Anne Karumo / Ee Ghim Chua
Tel: + 65 6818 9024