A blockchain ledger for farmers, a microloan platform for healthcare bills, and a bank card that provides rebates in Bitcoin are just some fintech improvements developed by the feminine entrepreneurs who made it to the finals of Quesnay’s Feminine Founders in FinTech innovation competitors earlier this month.
Transformative expertise innovation is a key differentiator between business disrupters and people which might be disrupted. Innovation competitions are an environment friendly approach for large enterprises to realize entry to recreation altering applied sciences which might be nonetheless within the early levels of improvement.
Quesnay Inc. is an innovation consultancy firm that additionally coordinates innovation competitions. Quesnay’s Feminine Founders in FinTech competitors (FFiT) focuses on feminine entrepreneurs who’re pitching their early stage fintech options. Launched in 2017, FFiT identifies and evaluates revolutionary expertise options and distinctive expertise for companies whereas additionally offering entry to capital, mentorship, and partnership alternatives to startups.
In keeping with Quesnay co-founder and President Jennifer Byrne, “Since launching FFiT, Quesnay has had main firms take part as sponsors, over 600 startups register from 61 international locations, 250 business consultants and buyers take part as judges and mentors, and a bigger ecosystem of innovators assist this system.”
The ultimate pitch occasion for this 12 months’s FFiT competitors was held February fifth at Nasdaq’s Instances Sq. places of work. “Offering assets for feminine tech entrepreneurs is a option to drive significant enhancements in variety and inclusion within the tech business,” stated Lauren Dillard, Govt Vice President and Head of World Info Companies at Nasdaq. “Nasdaq was proud to associate with Quesnay and supply a platform for ladies within the monetary companies business.”
5 very gifted girls entrepreneurs pitched their applied sciences in entrance of a panel of judges for an opportunity to win money prizes, mentorship, and the chance to collaborate with established monetary companies companies (together with Wells Fargo, the lead sponsor of this 12 months’s FFiT competitors):
First Place Winner: HomeZada
Elizabeth Dodson needs owners to strategy managing their most useful asset—their home—as professionally as they’d handle a enterprise. HomeZada is an all-in-one suite of apps that allows customers to administrate all features of dwelling administration in a single place. It tracks routine upkeep schedules, bills for transforming tasks, insurance coverage inventories, working bills, market worth and extra. The tagline of her web site reveals the mission of HomeZada: Lower your expenses. Enhance Worth. Get Organized.
In keeping with Byrne, whereas all of the finalists introduced extraordinarily compelling monetary options, HomeZada was the first-place winner as a result of the judges felt it introduced clear strategic route, a compelling worth proposition, a number of sources of income, an fascinating ecosystem, and a market-ready product.
“Congratulations to our winner, Elizabeth Dodson, Co-Founding father of HomeZada,” stated Byrne. “She received the judges over by presenting a user-friendly cell resolution that can assist their clients higher handle their total dwelling possession journey.”
Dodson seems to be ahead to constructing on the connections she made by the competition. “Quesnay and its sponsors provide all kinds of advantages that are key to the expansion of a profitable startup. Every of those advantages shall be used to scale HomeZada by securing extra associate relationships, enhancing the HomeZada platform, and rising investor connections to boost our Collection A spherical of funding,” stated Dodson. “Potential companions like Wells Fargo and Valley Financial institution can present a co-branded model of HomeZada to retain and have interaction their clients. The Mastercard Begin Path and Uncover provide partnership alternatives to reinforce the “perks” supplied by these bank cards, which might improve their buyer expertise and make it straightforward for his or her clients to handle their largest monetary asset and largest expense. Even sponsors like Shearman and Sterling have a community of buyers who could contemplate investing in HomeZada. I’m very grateful for successful this ahead considering, female-focused occasion.”
Second Place Winner/Individuals’s Selection Winner/Viewers Selection Winner: Stratyfy
Stratyfy CEO Laura Kornhauser, alongside together with her co-founders, developed Stratyfy for compliance, danger administration and underwriting professionals. Stratyfy is exclusive in that it integrates AI fashions into the decision-making software program that may detect and mitigate bias, serving to banks and insurers make higher risk-based choices in areas corresponding to bank card software approvals, insurance coverage quotes, and mortgage underwriting.
“Stratyfy’s AI resolution resonated with the viewers because it combines its engine with institutional data in a approach that additionally mitigates bias,” stated Byrne.
Third Place Winner: clinicPesa
Sharon Anyango of Uganda believes nobody ought to endure with out medical take care of lack of earnings. She developed clinicPesa, a digital micro-loan and financial savings platform that helps customers put aside devoted healthcare funds to offset medical payments and buy medicines. The app supplies entry to the platform and funds by way of cellphones. Sharon’s purpose is to empower the uninsured residents of Uganda and Kenya (and finally all of East Africa) to avoid wasting as little as $ 0.20 at a time to construct up funds to offset medical payments. clinicPesa additionally supplies mortgage top-ups at very minimal rate of interest in case emergency medical bills exceed financial savings.
High 5 Finalist: AgriLedger
Genevieve Leveille of London is on a mission to revolutionize agtech. She developed AgriLedger to carry blockchain expertise to individuals throughout the total spectrum of the agricultural provide chain. AgriLedger’s blockchain expertise brings transparency and traceability to meals sources, supplies information to farmers to allow them to absolutely gauge and entry market alternatives, and creates digital ledgers so agricultural suppliers can show identification and earnings to realize higher entry to monetary companies.
High 5 Finalist: TomoCredit
TomoCredit founder Kristy Kim got here to the U.S. from South Korea as a pupil to attend the College of California at Berkeley. Like many worldwide college students, her bills have been funded by her mother and father, so she by no means established credit score historical past within the U.S. When she graduated and joined the workforce, she couldn’t get a automobile mortgage although she had a really high-paying job and robust money movement—as a result of she had no credit score historical past. Kim estimates there are greater than 30 million college students and graduates identical to her who fall into the class of excessive buying energy however little or no credit score historical past. Her TomoCredit card is a Mastercard card that targets that area of interest, with cardholder approvals primarily based on checking account transactions to know spending and money movement. The corporate additionally guarantees 20% rebates to bank card holders within the type of Bitcoin cryptocurrency.
To search out out extra about innovation competitions, together with how they foster innovation and variety, learn Innovation Competitions are a Distinctive Method for Firms to Foster Innovation and Variety: Right here’s How.
Quesnay is an innovation consulting companies agency that helps conventional companies and types speed up innovation by working with startups. Quesnay achieves this by operating innovation competitions and acceleration applications, in addition to offering strategic partnership consulting companies. Prior sponsors and purchasers embrace AARP, , CSAA Insurance coverage Group, Uncover Monetary, Farmers Insurance coverage Group, Constancy, Hearst Company, John Hancock, Liberty Mutual, MassMutual, Nationwide Affiliation of Broadcasters, Nationwide, Prudential, QBE Insurance coverage Group, RGAX Inc., TD Financial institution, Thomson Reuters, Valley Financial institution, Verizon and Wells Fargo. For extra data, comply with us at @QuesnayInc or go to www.quesnays.com.
The views and opinions expressed herein are the views and opinions of the creator on the time of publication and might not be up to date. They don’t essentially replicate these of Nasdaq, Inc.