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Holt Accelerator Welcomes Scottish Fintechs to apply for their World-Class Fintech Accelerator Program

Written by Sarah Spagnuolo, Marketing Director at Holt Fintech Accelerator

Holt Fintech Accelerator in Montreal, Canada is a world-class fintech program that is currently accepting international applications until June 14th.

This is a fantastic opportunity for fintechs from Scotland to conquer Canada before scaling up to the US, because you get the opportunity to:

  1. Do product testing with access to senior Canadian potential partners
  2. Get assistance in fast-tracking your time to business (ie. From Visa to incorporation)

What we’re looking for

We’re looking for international, pre-Series A (i.e. bootstrapped, pre-seed, seed, bridge), FinTech startups who (or that)  are ready to take advantage of this high-impact program.

The program is being backed by the Holt family”“ one of Canada’s wealthiest families. The program is also supported by one of Canada’s largest AI firms and a long list of influencers within the FinTech community, offering invaluable insights into the North American market. Our website has all the info: https://www.holtaccelerator.ai/.

Here’s what we offer

The Capital (up to $125K cash + $50K value)

  • $25K CAD + $200K CAD in-kind on flexible terms,
  • Up to $100K CAD available if milestones are met,
  • Potential investments from Holt angels & institutions,
  • Potential for capital calls from Holt or Holdun.

The Ecosystem (Priceless)

  • Plug into Holt Financial’s digital bank and exchange for new revenue sources,
  • Raise financing more easily and strategically through the STO platform,
  • Potential to partner with our alumni and future cohort.

Potential Clients (+$100K CAD value)

  • Access to key people in financial institutions,
  • Obtain real feedback on product(s),
  • Potentially close deals with paying customers.

The Support ($100K CAD value)

  • Super Advisors provide one day a week over 12-weeks (See our growing list of Advisors here),
  • Access to world class PhDs to guide the teams weekly,
  • Coaching & workshops (pitching, lunch & learns, etc.),
  • Guidance from industry & tech experts,
  • Bonus: visibility, free office, service provider discounts.

 

Deadlines

Application deadline:June 14

Invitation for selection date: June 15

Selection dates:July 8-9 (MTL startup festival + meet and obtain feedback from over 100 Advisors)

Program starts:August 19

Program ends: November 8

 

Here’s what the Holt 2018 cohort had to say about the Program

“Once I read about the Holt Fintech Accelerator’s mission and understood the background of the family, as well as the array of businesses and the structure of the program, I knew it’d be a great fit. Holt can connect us to client and investor opportunities, and accelerate the growth of our clients.”

Thomas Schickler, CEO The Liquidity Marketplace

“It’s an exciting time to be in Fintech.  We’ve seen waves of disruption in the space, and then banks absorb some of that change.  We’re helping banks compete with stand-alone fintech apps by bringing personalized financial wellness tools into their offering and winning the customer back. We’re excited to be part of the Holt Accelerator and appreciate the support they’re giving us to let more people know about our product. The rest of the cohort is also highly talented, and we may have an opportunity to partner with other startups that complement our offering.”

Sajil Koroth, CEO, KapitalWise

 

“We had several discussions with Brendan and Jan before applying and realized that they are great people, with great connections into financial institutions in Canada ”” our current customer base.  We’ve also learned since starting the program how hands on these guys are. The program is extremely well organized and the Holt management team has been very helpful. This journey is incredibly exciting!”

Sean Merat, CEO, Owl

Launch of the UK Fintech National Network

Innovate Finance, FinTech Scotland and FinTech North have today announced the launch of a national fintech network. Its aim is for innovators to connect all around the country.

The FinTech National Network will increase collaboration between fintech hubs focussing on initiatives such as skills, investment and diversity.

Because innovation is coming from all parts of the UK it is vital to have a unified message that can be taken to a global audience and attract even more Foreign Direct Investment (FDI).

FDI is still flowing into the UK fintech sector. In 2018, the UK had its highest year in terms of investment, with over $3.3 billion, split roughly 50/50 between growth PE investment and VC investment. Compared to 2017, it’s 18% higher. Between 2016 and 2017 FDI had already doubled. These growth levels put the UK third only to China and the US.

 

Stephen Ingledew, CEO of FinTech Scotland said:

“Innovate Finance is leading on valuable work in areas such as attracting investors, access to skilled people and international engagement, so we are delighted to be working in collaboration with them in supporting the development of FinTech enterprises. With our shared values of encouraging diversity and inclusion in financial innovation, we are looking forward to developing our partnership in supporting FinTech growth.”

 

Chris Sier, Chairman of FinTech North & HM Treasury FinTech Envoy, said:

“Innovate Finance is a globally respected and recognised brand. As the FinTech sector continues to develop at pace outside of London, it is really encouraging to see Innovate Finance taking more proactive steps to engage on a truly national basis.

London’s role in the global FinTech economy is a significant one, but I strongly feel the regional cities of the UK have much to offer on a national and international basis, even more so if they can collaborate with each other via initiatives like the FinTech National Network.”

 

Charlotte Crosswell, CEO of Innovate Finance, said:

“I am delighted that we will be working closer with the FinTech Scotland and FinTech North across the UK. Clearly, momentum is growing within the UK’s national FinTech scene outside of London and Innovate Finance is committed to ensuring that FinTech is supported and represented across the entire breadth of the UK.”

Digital Technology Employer Survey

Photo by Branko Stancevic on Unsplash

Skills Development Scotland and partners are conducting an employer skills survey which will help shape the correct future skills provision for digital tech jobs in a number of sectors. If you manage a digital technology business/a business which has need of employees with digital skills, complete the survey; and share your skills issues and recruitment needs and challenges.

The Digital Technologies sector is important to Scotland as it plays an underpinning role in driving the competitiveness of Scotland’s other growth sectors as well as being a significant employer in its own right.

As part of this an employer skills survey is being conducted which will assess the current and likely future skills needs and issues in the digital technologies workforce.  Ultimately, the research will deliver a strong and robust evidence base with which to inform skills investment planning for the digital technology sector and other sectors with a growing need for digital skills.

 

The objectives of the study are as follows:

  • Detail the size and scale of the sector, and its economic importance to Scotland
    • Detail the size and scale of the sector in Glasgow and Edinburgh
    • Detail the size and scale of the Fintech sector
  • Present the current composition and forecast changes in the sector’s business base
  • Establish the current and likely future skills needs of employers
  • Map the education supply pipeline for the sector

Got a Bold Business Idea? Converge 2019 is Now Open for Applications!

The quest to find the next generation of entrepreneurs from Scotland’s thriving academic entrepreneur community is fully underway. Converge, the pioneering entrepreneurship programme for staff, students and recent graduates from across Scotland’s universities and research institutes has just launched its 2019 programme, challenging every Scottish university to uncover the next big idea.

Now in its 9thyear, Converge now has the financial backing of all 18 Scottish universities ”“ up 11 from last year. They join the Scottish Funding Council which has earmarked over £1m funding to cover the next three years, and Creative Scotland.

This year’s total prize fund is the biggest yet at £230,000 and is shared across the four main platforms ”“ Converge, Impact, KickStart and, new for 2019, the Creative Challenge. Successful applicants also benefit from in-depth business training, pitch coaching, support and access to an extensive network of business and investor contacts.

Open to spin-outs and start-ups from any industry sector, Converge alumni are represented across a wide range of sectors including the life sciences, technology, engineering, renewables, the creative industries and medtech.  Some of their ground-breaking innovations include next generation ultrasound sensors, educational robots, wearable medical devices, trailblazing cancer treatments and robotic probes.

Applicants now have until Thursday 25 April to submit their proposals.  Full details including how to apply are available on the Converge website.  Additionally, the Converge Outreach Team is currently travelling the length and breadth of Scotland to offer help and advice to students and staff thinking of applying to this year’s Programme.  Events are scheduled throughout April with new sessions added daily, so please take a look at our schedule for more details.

Do you have what it takes? Celebrating entrepreneurial success in the UK

Article written by Calum Brewster, Managing Director, Head of UK Regional Offices at Julius Baer

Spectator Economic Disruptor of the Year Awards

The winner of the Spectator Economic Disruptor of the Year Awards 2018 is on a mission to bring financial services to the unbanked’. Pockit – a low cost, easy-access banking app ”“ was the overall winner, establishing itself as a true disruptor in the banking sector.

The judges commented that its clear social purpose ”“ which tackles a very serious problem ”“ is what stood out. Pockit has 500,000 customers so far and that number is growing by 20,000 each month. It’s targets are very ambitious but it’s attracted significant investment from a number of high-profile venture capital investors to achieve these goals.

Fintech has long been celebrated as a truly disruptive sector and a large number of successful companies are making huge strides in rapidly changing the status quo ”“ many of which are based in Scotland. This does not go unnoticed at Julius Baer. While they don’t expect robots to replace humans in the hugely important job of client interaction, they do keep a very focused eye on technology that can help them to better service their clients’ very complex needs.

Partnering with the Spectator to create these awards helps Julius Baer to stay at the forefront of technology enhancements ”“ giving us the opportunity to speak with the companies and individuals who are changing the world of financial services.

Founded in Zurich in 1890, and now a fast expanding player in the UK wealth management scene, Julius Baer has an instinctive sympathy with business-builders that bring new thinking and positive change to established markets.

 

So, who are the companies that are rewriting the rules in 2019?

Entrants for these awards will be innovators with real passion for their products and customers and the potential to scale up from local to national and international arenas, underpinned by strong financial plans. There will be five regional winners (one from Scotland), chosen from a high-profile judge in each region. The national winner will be named at a gala dinner in central London and will be invited to join The Spectator’s elite private dining club of business leaders as well as benefiting from the extensive media coverage that these awards generate.

 

Do you have what it takes?

As true disruptors in this sector we are encouraging founder members of Fintech Scotland to enter the prestigious Spectator Economic Disruptor of the Year Awards 2019. Details can be found at www.spectator/co.uk/disruptor

 

The Global Open Finance Centre of Excellence project hits a new milestone

The Scottish bid for the development  of The Global Open Finance Centre of Excellence (GOFCOE) has received very good feedback from the Strength in Places Fund assessors and moves to the second stage as announced todayby the UK Research and Innovation organisation

In October 2018 a Scottish consortium decided to come together behind the ambitious project of launching the Global Open Finance Centre of Excellence in Edinburgh and apply for funding from the Strength in Places fund.

The University of Edinburgh, FinTech Scotland, Scottish Enterprise and the Financial Data And Technology Association (FDATA) joined forces to produce a very strong application.

Open Banking, and its impending evolutions into open finance more generally, is the biggest global trend in financial services, for people and for businesses.

A centre of excellence would be a world first, providing leadership, coordination, research and capability to support this rapidly expanding and evolving phenomenon.

The GOFCOE is one of twenty-four ambitious projects, from pharmaceuticals to aerospace, and transport to the creative economy, that have received early-stage funding to develop full-stage bids that could lead to significant economic growth in places.

The GOFCOE project will receive early-stage funding, which will allow for the development of full-stage bids.

Ultimately, eight of the strongest bids are set to receive additional funding to carry out projects designed to drive substantial economic growth.

Announced in the modern Industrial Strategy in November 2017, the Strength in Places Fund will benefit all nations and regions of the UK by enabling them to tap into the world-class research and innovation capability that is spread right across the country. The fund brings together research organisations, businesses, and local leadership on projects that will lead to significant economic impact, high-value job creation and regional growth.

Chief Executive of UK Research and Innovation, Professor Sir Mark Walport, said:

Our clear vision is to ensure we benefit everyone through knowledge, talent and ideas. Significant support through the Strength in Places Fund will further catalyse economic potential across the country by bringing researchers, industry and regional leadership together to drive sustained growth through world-class research and innovation.’

The Government confirmed in the 2018 Budget that the Strength in Places Fund is to receive a further £120m to bring the fund budget for the period up to 2021/22 to £236m.

Stephen Ingledew, Chief Executive at FinTech Scotland said:

“The Global Open Finance Centre of Excellence builds on Scotland’s heritage of financial services and enviable entrepreneurial track record combined with an enlightened and progressive culture which aligns the social and economic benefits of innovation. Going forward the Centre of Excellence focused on data driven innovation will support the inclusive growth objectives of Scotland, leveraging the ongoing role of international collaboration across Europe and globally with the private sector, consumer groups, academia, regulators, governments”

 

Jarmo Eskelinen, Director of the Data-Driven Innovation initiative at the University of Edinburgh said:

“The University of Edinburgh is delighted to support the Global Open Finance Centre of Excellence [GOFCOE] and to be developing this exciting project in partnership with FinTech Scotland, FData Global, Industry and Academia across the central belt of Scotland. The success of the Strength In Places Fund [SIPF] bid is confirmation of the importance of innovation for industrial strategy in the UK and we look forward to engaging with the consortium to develop the GOFCOE in the coming months. As a partner in the Edinburgh and South East Scotland City Region Deal, this project exemplifies all we are aiming to achieve through our Data-Driven Innovation initiative; attracting talent and investment to the region; linking world-class researchers and data analytics expertise with industry and innovating to drive new products and services.”

 

Danny Cusick, Director Multi Sectors at Scottish Enterprise said:

“We’re excited to be developing this project with our partners as it has the potential to bring substantial economic benefits through increased innovation and inclusive growth to firmly establish Scotland’s reputation as a world leader in Open Finance. Scotland already has exceptional capabilities in fintech and data and the Centre of Excellence demonstrates what we can achieve through collaboration to create competitive advantage for Scotland.”

The UK FinTech Census 2019 has launched

Building on the success of the 2017 initiative, this second edition will create a unique and accurate fact-base for the UK FinTech sector, and attract the attention of international investors and domestic policymakers, particularly officials at HM Treasury, who are keen to use this data to inform their support for the FinTech Sector.

 

The census will provide Scottish FinTechs with:

  • A clear picture of the sector to Government: the 2017 census was used to inform policy across the areas of tax, employment, regulation and investment
  • Greater visibility of the sector to investors and talent: the census will help promote the opportunities in Scottish FinTech to international investors and those looking to work in the sector
  • Sector benchmarks: the census will enable you to benchmark your business against the broader FinTech sector

 

To help us gain an inclusive view of the industry today, and ensure that the FinTechs based in Scotland are represented, please complete the survey by Friday, 22 March 2019.

 

Please click here for the survey

 

The previous 2017 census can be found here: https://www.ey.com/Publication/vwLUAssets/EY-UK-FinTech-Census-2017/$FILE/EY-UK-FinTech-Census-2017.pdf

FinTech Scotland and FinTech North to collaborate in 2019

FinTech Scotland announced today the strengthening of its relationship with FinTech North, one of the leading fintech organisation in England.

Together they will collaborate around many initiatives this year including Stephen Ingledew, FinTech Scotland’s chief executive delivering presentations at FinTech North’s conferences in Manchester and Leeds in the Spring

and then a joint collaboration conference by the two organisations in in Scotland in the Autumn

Julian Wells, Director of FinTech North, says:

“Its a pleasure to welcome Stephen and FinTech Scotland to our first two major conferences of 2019. We have enjoyed a mutually supportive relationship since the creation of FinTech Scotland in 2018 and the progress made by Stephen and the team in that time is highly impressive. We look forward to developing even stronger links with FinTech Scotland over the coming months and are excited to run our first event north of the border later this year.”

Stephen Ingledew, Chief executive of FinTech Scotland, says:

“FinTech Scotland is delighted to be working with the FinTech North team, with whom we share a common passion for the development of strong and vibrant FinTech communities and economy across the country. In Scotland over the last year we have made significant progress in bringing together the innovative Scottish fintech community across multiple cities, organisations and universities and I look forward to sharing our journey with the FinTech North community.”

FinTech Scotland and FinTech North were already closely aligned as both organisations are chaired by HM Treasury FinTech Envoys. Chris Sier is FinTech Envoy for the Northern Powerhouse and chairs FinTech North, while David Ferguson is Scotland’s FinTech Envoy and chair of FinTech Scotland.

AutoRek and Glasgow Chamber of Commerce come together for free International Business Development working lunch

AutoRek, a global financial controls, regulatory reporting and data management platform, have announced that they’ll be hosting an International Business Development working lunch in collaboration with Glasgow Chamber of Commerce next month.

The aim of the event is to bring together a number of business leaders from Glasgow’s SME community to discuss the International Business challenges they face and will provide them with an opportunity to work together to overcome such challenges. As a business with roots in Glasgow, AutoRek is keen to offer advice to these businesses, as well as give them the chance to collaborate with like-minded professionals and tackle issues head-on.

Headquartered in Glasgow, with offices in London, Edinburgh and New York, AutoRek’s solutions are deployed globally. They deliver a range of financial, operational and regulatory reporting control solutions. They have supported implementations in many leading organisations with projects including high volume data migrations, elimination of spreadsheets and manual processing, regulatory reporting, mitigation of operational and regulatory risk, and reduction in fast close processes. This makes AutoRek well placed in their collaboration with Glasgow Chamber of Commerce to assist these businesses in combating the challenges they face, Lyn Canavan (Head of Marketing) said:

“We have teamed up Glasgow Chamber of Commerce to host our first in a series of International Business Development working lunches. We believe that it presents a great opportunity for local business leaders to collaborate together sharing ideas and common challenges. We already have a good relationship with Glasgow Chamber of Commerce and we are looking to build upon this partnership and expand globally.”

 

The event will be held between 11:30 and 14:00 on the 5th of March in AutoRek’s offices at the Garment Factory on Montrose Street. A huge plus for these businesses is that the event will be totally free to attend, offering an excellent opportunity to network with other Glasgow-based business professionals and SMEs looking to work on these common issues and expand internationally. With Brexit on the horizon, the impact of it on SMEs has been and is a growing concern. Recently, Barclays has announced that it will be hosting Brexit clinics’ in Scotland from March to support SMEs through Brexit, and, last week, Scotland’s finance secretary Derek Mackay told MSPs that the Scottish economy faces being pushed into a recession “worse than the 2008 financial crash” under a no-deal Brexit. With the loss of multi-million pounds worth of global trade contracts in such an event, it’s no surprise that Scottish SMEs are keen to prepare ahead of it.

 

AutoRek’s offices are located in the heart of Glasgow’s City Centre, just off of George Square and will be easily accessible for all attendees; just a 10-minute walk from Glasgow Central Station.

 

Are you interested in attending the International Business Development working lunch? You can sign up for the event on AutoRek’s website:

https://www.autorek.com/events/international-business-development-working-lunch/

Orca launches Innovative ISA to help investors access multiple P2P platforms

Orca, the Scottish fintech, announced today the launch of its Innovative Finance ISA (IFISA). It will enable investors to invest across multiple peer-to-peer lenders (P2P) by taking down

Until now, investors were only allowed to one P2P platform in an IFISA each tax year. Should they want to invest in an ISA from different platforms, they had to go through a painful process of creating separate accounts with each P2P platform.

One interesting stat given by Orca is that in order to achieve the same level of diversification enabled through Orca’s IFSA, it would have taken five years as opposed to minutes now. They can now invest in 5 leading P2P platforms at once.

Iain Niblock says: “The Orca ISA is an innovation that can make investing in P2P far more accessible to the wider investing public. It gives them a diversified, highly attractive alternative to Cash and Stocks and Shares ISAs.

“Investor funds are automatically spread across many of the UK’s leading P2P platforms. This reduces exposure to any one platform and distributes investment across a much broader range of asset classes and risks.