SWIFT Innotribe announces Asian semi-finalists for 2014 Startup Challenge

SWIFT Innotribe, which connects startups and innovators with investors, strategists, and influential decision-makers from leading financial institutions across the globe, has announced the Asian semi-finalists for the 2014 Innotribe Startup Challenge. The semi-finalists which will compete in Singapore on 15 May are:

 

Early-stage startups* 

§ Aureus Analytics

§ FundWave

§ GlobalCLAS

§ InfoTrie

§ Lendstar

§ Sixscape Communications

§ Stockspot

§ Switchless

§ TextoPay

§ zipMoney
 
Growth-stage innovators*

§ Advanced Merchant Payments

§ Dragon Wealth

§ EssDOCS

§ Fastacash

§ Soft Space

§ Tootpay
 
Fabian Vandenreydt, Head of Markets Management, Innotribe and the SWIFT Institute at SWIFT, is impressed with the quality and quantity of applications this year: a record 280 entries were received.  

“Singapore is shaping up to be one of the hubs for startups in Asia. With a strong government backing and collaborative business environment, Singapore is well positioned to becoming a focal point of innovation in Asia, paving a path for young entrepreneurs to explore business opportunities in this region and develop startups into global brands,” he said. 

Close to 50 companies have been selected from around the world to pitch their business ideas during three regional showcases in London, Singapore and New York. During the showcases, the semi-finalists will pitch their new innovative business ideas to an audience of global innovators and investors, venture capitalists and industry experts. Attendees will vote for the companies of their choice, helping to select the five finalists.

The five winners of each regional showcase (three early-stage startups and two growth-stage innovators) will automatically secure a place as a finalist in the Grand Finale at Sibos, SWIFT’s annual conference, in Boston on 1 October. The Asian leg of the competition will be hosted by Next Bank Asia on 15 May at the National Design Centre (NDC).


*Early-stage startups are defined as companies which are under three years old, and which have seen under US$1 million in combined revenues and investments in the last 12 months. Growth-stage innovators are more than three years old, or which have seen more than US$1 million in combined revenues and investments in the last 12 months.