We were pleased to introduce a Fintech Innovation Challenge to our 2016 conference programme, kindly sponsored by Paymark. The challenge saw five fintech startups compete in a round of quick-fire presentations to win a cash prize of $5,000 as well as mentoring and associated networking opportunities.
We received a great range of quality entries and below are the challenge finalists and runners-up. Delegates were able to meet all our finalists and most of the runners-up at the fintech stand during the conference.
The 5 finalists who pitched to the conference delegation at the Fintech Innovation Session on day one of the conference to compete for the prize were:
- My Bitcoin Saver
We received such a high calibre of entries the judges selected 8 runners-up:
- Avali Payments
- Seek Stock
All entrants were judged by a panel of representatives from:
- Paymark - our challenge sponsor
- Payments NZ
- Lightning Lab
- the Angel Investor community
All applications were judged against four assessment criteria including business model, customer-value proposition, design/innovation and overall viability.
Choosing the winner
The finalists had 6 minutes to pitch their product during the Fintech Innovation Session then a Q&A panel had 4 minutes to quiz each of the finalists. The Q&A panel was made up of the following industry experts:
- Mark Rushworth, Paymark Chief Executive
- Stefan Korn, Creative HQ CEO
- Cecilia Tarrant, ArcAngels Chair, member of IceAngels, and Payments NZ Independent Director
The conference delegation then chose the challenge winner in a live poll and Dexibit was announced as the winner at the conference Gala Dinner.
The challenge was open to new or recently established innovative, technology-enabled startups working in any area of financial services or a supporting sector such as cyber-security, digital identity and data analytics. To be eligible, entrants had to have:
- an establishment date of no earlier than 1 August 2014; however, we considered applications that fell outside of this date (startups do not need to be incorporated); and
- a demonstrable product or service OR a pre-commercialised prototype or concept.
Terms and conditions to entry applied.