FinTech- Why Now, Why Startupbootcamp

FinTech- Why Now, Why Startupbootcamp

06-Jun-2019 by Claudia DeFabio

According to the 2018 EY Fintech Australia Census, Australia continues to see growing demand in the FinTech industry due to the strong consumer appetite for digital financial services and digital structure improvements. This growth is primarily seen in Victoria and New South Wales, with 25% of the growth in Victoria alone. As the rapid growth and change become more active near the city of Melbourne, Startupbootcamp Australia becomes more eager to collaborate with startup teams from all over the world and share their experience with setting foot into this growing industry.

SBC is excited to announce the start of its first FinTech program, and welcome 10 ground-breaking startups from around the world. This cohort was chosen from nearly 900 applications and 57 countries, with eighty per cent of the teams less than four years old. 90 per cent of the teams in the cohort are international and bring a global perspective to the program. 

The selected startups were welcomed to the Startupbootcamp Melbourne headquarters on June 3rd, where they were greeted by the team, shown around the YBF office, which they will call home for the next three months, and hit the ground running with workshops run by CEO Trevor Townsend, Executive Program Director Richard Celm, and Managing FinTech Director Brian Collins.

The startup teams address a variety of different themes within the FinTech industry by disrupting the current industry status quo with their innovative solutions. Emotics falls under the RegTech category by addressing the “cost of bad behaviour” and regulating employee compliance training. Pencil and InsureVite dive into the business tools theme with their personalised solutions. ZScore works within the data analytics and information management field to improve Big Data efficiency. Furthermore, ChintaMoney, TradingValley, Youthful Savings, Zigway, and Fractal address financial health and wellbeing, which ultimately fosters consumer empowerment.

Along with utilising the Startupbootcamp’s network, the startups also have the benefit of connecting with partners such as NAB, Bupa, AustralianSuper, Deloitte, Capgemini, DiUS, KHQ Lawyers, Pitcher Partners, and the Australian & Victorian Government. These partners offer a key advantage to the startups throughout the program. For instance, startups have the opportunity to work directly with significant and diverse industry professionals.

The Australian FinTech industry has evolved significantly in a short space of time. This rapidly growing market provides a promising window of opportunity with great potential for these selected startup companies. Slowly making their way to the bedrock of the FinTech industry. Startupbootcamp is happy to welcome all of the startups and is very excited to have the opportunity to work with and share this experience with each of the startup teams.

Claudia DeFabio