The Journey of SBC FinTech Cohort 2019

The Journey of SBC FinTech Cohort 2019

23-Jul-2019 by Scott Hudson

It’s hard to believe that the first half of the Startupbootcamp Australia FinTech program is already over! As the SBC FinTech Ambassador, I had the opportunity to chat with the founders about their experience thus far and what they are anticipating in the future.

So far, the teams have been enjoying the helpful resources and feedback from the SBC staff, partners, and mentors. Deleep Murali of ZScore commented, “Startupbootcamp has been a great revelation for us. It has been a fantastic platform for us to showcase our product.” Through utilizing Startupbootcamp’s extensive network, they have built meaningful connections with mentors and corporate partners.

Over the next 6-8 weeks, the startups are looking forward to expanding into the Australian market. They plan to work with partners to reach more customers, meet new suppliers, and run pilots. As members of the SBC family, the startups are also excited to create, foster, and eventually maintain relationships facilitated during the program.

On average, startups within the SBC programs accelerate their businesses and accomplish eighteen months of work within a three-month period. The opportunities for startups to engage with mentors, seek feedback from industry professionals and learn from corporate partners in workshops are key components that make the Startupbootcamp program so transformative.

Nine out of the ten teams in the cohort have travelled to Melbourne from outside Australia and have been enjoying the vibrant city. As a hub for startups and innovation, Melbourne, the startups mentioned that there is an infectious amount of positivity in the people here. Somya Munjal of Youthful Savings expressed that she is excited to continue working with Startupbootcamp because of its culture. “Caring and empathy are two of my favourite things and it has been amazing to see the culture of a business that incorporates that,” she said.

Along with Munjal, Greg Armstrong of Pencil, a Melbourne local, also spoke about why the culture in Australia has been instrumental for his company. “The startup community here is probably the most advanced in Australia. Put that down to a multiple of different things including the numerous accelerators, government & corporate support, and the innovative culture.”

The startups have hit the ground running over the first half of the program and have relished the experience so far while looking forward to the most anticipated event of the program: Demo Day. I, along with the rest of the SBC team, mentors, and partners am excited to see their businesses grow and transform throughout the next two months.

Outside of the current #FinTech program, it has been fantastic to see the great progress made by a couple of the recent alumni from SBC’s EnergyAustralia program run earlier this year. RedGrid is currently undertaking a crowd-sourced equity funding capital raising. CEO Adam Bumpus will be also speaking at the Power Utilities Conference next month with RedGrid, which brings together thought leaders in the sustainable energy market at the two-day event.

All of this speaks volumes to the great programs that SBC runs as well as the value and attractiveness of Melbourne as a start-up destination of choice.

Scott is Startupbootcamp Australia's FinTech ambassador for the 2019 cohort. He has spent the last 12 years working at Computershare, where as Head of Intermediary Services, his team manage relationships with Institutional Investors, Brokers, Investment Banks, Wealth & Fund Managers, Custodians and Investment administrators.