May 17, 2019Media
Startupbootcamp selects ten firms for fintech accelerator
Startupbootcamp’s global accelerator program has announced the 10 startup companies chosen for its FinTech Accelerator program,
which will officially start on June 3rd and operate until Demo Day on August 29th.
Supported by leading names in the financial services and tech industries, such as NAB, Bupa, Deloitte, Capgemini, DiUS and Amazon Web Service (AWS), the program has got nearly 900 applications from 59 countries since applications opened in December 2018.
10 startups were selected from around the world, including Australia, India, Hong Kong, Singapore, Taiwan, Myanmar, the United Kingdom and the United States, were selected from an impressive list of candidates of 20 businesses following this week’s intensive two-day screening and mentoring case in Melbourne, attended by over 100 industry experts, mentors and partners.
In the 10 startups selected, Pencil, the only Melbourne based company was chosen!
Each of the companies will receive free co-working space at Startupbootcamp’s Australian offices in the CBD, $25,000 for living expenses, over $1,000,000 worth of partner deals, including support from DiUS, KHQ Lawyers and Pitcher Partners, and access to Startupbootcamp’s global network of corporate partners, investors and mentors.
Trevor Townsend, CEO of Startupbootcamp Australia, said: “The global FinTech industry is booming with VC-backed FinTech companies raising US$6.3B in the first three months of 2019 alone.
The Asia-Pacific region is the fastest growing and we’ve seen tremendous interest in this program across the financial sector in Australia. The calibre of startup applications is the best and most we’ve ever seen for a first year program.
“The next three months will be transformational for the 10 startups selected. They’ll be pushed to breaking point and will need to quickly focus on their greatest opportunity as a result of the hundred plus meetings, workshops and mentoring sessions with industry leaders. It’s why when we select, the most important thing we look for is the strength of their team, how coachable they are and their ability to execute.”
Brian Collins, Managing Director of Startupbootcamp FinTech Australia, commented: “It’s really exciting for the Australian FinTech startup community that we have an Australian startup in the top ten from nearly 900 global applications. Pencil is changing the way that smaller businesses interact with their vendors and its founders, Tim and Greg, are seasoned entrepreneurs who have a track record of building successful businesses here in Australia.
“It’s great to see that the Australian FinTech industry is producing world-class talent that can compete with the best in the world. Collectively, these 10 startups have the ability to make a real impact on the Australian Financial Industry at large.”
Startupbootcamp Australia accelerated 20 startups since 2018, which have gone on to raise a combined total of AU$61.3M, create 44 jobs and work on 25 POCs with local commercial partners, and demonstrated the highest net promoter score of any Startupbootcamp program for that year.