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Fintech overview for HEIG-VD lecture, December 2016

Fintech overview for HEIG-VD lecture, December 2016

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Hello, I'd like to share a presentation I prepared for a lecture at the HEIG-VD engineering and management school in Switzerland, focusing on Fintech with a Global and Swiss overview. Being a long lecture in front of students in International Innovation Management, it looks at Fintech under various angles, and also presents the Startup Weekend Fintech Geneva which I co-organize, as a pre-Fintech startup experience. Hope you enjoy the pack! Jérôme.

Hello, I'd like to share a presentation I prepared for a lecture at the HEIG-VD engineering and management school in Switzerland, focusing on Fintech with a Global and Swiss overview. Being a long lecture in front of students in International Innovation Management, it looks at Fintech under various angles, and also presents the Startup Weekend Fintech Geneva which I co-organize, as a pre-Fintech startup experience. Hope you enjoy the pack! Jérôme.

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Fintech overview for HEIG-VD lecture, December 2016

  1. 1. JérômeVasamillet Accélérons l’innovation via la FinTech Presentation prepared for a lecture at the HEIG-VD course on International Innovation Management Yverdon-les-Bains, December 5th 2016 JérômeVasamillet
  2. 2. Agenda Introduction Part I : FinTech Part II: Fintech in Switzerland StartupWeekend Fintech Geneva From idea / MVP to startup
  3. 3. A few words about your guest lecturer today • Business Engineer based in Geneva • Started his career in two startups linked to what is now called FinTech: I. The first in BigData Analytics – later merged with a university spinoff to provide text mining solutions for medical, media and financial companies in western Europe II. The second in Financial Advisory for tech-focused entrepreneurs & SMEs – later became a VC manager with a fund connected to a Crowdfunding platform • Then worked in the swiss private banking industry (asset and wealth management) • CAIA Charterholder & holder of the CFA Institute Investment Foundations Certificate • Interested in blending finance focused on alternative investments with, technology, the startup ecosystem and innovation acceleration. • Please note I have no financial interests in the companies highlighted asexamples / case studies in this presentation.
  4. 4. ▪ What do these words invoke? Now gather in a team and build your own Fintech word cloud – try to use new words ! Let me know a bit about yourselves…
  5. 5. ▪ Here are a few more… decentralized digital ledger, cryptocurrency… and many more ! What did you come up with ? SOURCE: HTTP://FINOVATE.COM/FINOVATEEUROPE-2016-THEMES-ON-THE-THAMES/
  6. 6. Throughout the lecture… whether relative to content or terminology !
  7. 7. Part I Fintech
  8. 8. A merger of two industries Finance ▪ For the business ▪ Financial management (internal): managing company resources to achieve it’s goals ▪ Financial services (external): corporates, individuals… ▪ For the individual ▪ Short term: every-day payments… ▪ Long term:Wealth management and planning ▪ Obtain financing for personal projects  Innovate or risk losing business to competitors & new businesses providing better services Technology ▪ IT is a key function, the backbone in the finance industry ▪ Often overlooked, leading to legacy systems (an old method, technology, computer system, or application program, being or related to a previous or outdated computer system)  Innovate to support the financial industry provide better services (IMS, data handling, new product development, support, customer experience…)
  9. 9. Both in the midst of disruptive changes Finance ▪ Shaken by the 2008 financial crisis ▪ Fragilized by numerous scandals and legal costs ▪ Rigging of foreign exchange markets ▪ Manipulating interest rates (LIBOR) ▪ Trading losses (LondonWhale, Kerviel…) ▪ Attacked by high tech giants such as Facebook, Apple or Google whom are stepping on their turf Technology ▪ Traditional 'facilitators': large established actors with track record of supporting financial services (such as SunGard, Infosys orTemenos) ▪ Emerging 'disruptors': smaller new entrants active in the disintermediation / unbundling of larger institutions (such as Wealthfront, LendingClub or Knip) The digital revolution needs actors adopting a new mentality, able to take risks in terms of innovation. This is not a common trait amongst financial institution leaders.
  10. 10. FinTech An industry composed of companies that use new technology and innovation to disrupt the marketplace of traditional financial institutions and intermediaries in the delivery of financial services. Definition source: Infinite Financial Intermediation, Tom C. W. Lin, Temple University - James E. Beasley School of Law, January 5, 2016 SOURCE: HTTPS://PAPERS.SSRN.COM/SOL3/PAPERS.CFM?ABSTRACT_ID=2711379
  11. 11. Global Fintech investments over 2010-2015 SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL2016
  12. 12. Fintech funding and deals – Q3 2016 update SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF $13.5m average per deal Though VC-backed fintech funding may not exceed the 2015 peak of $14.5 billion… … total funding to Fintechs might, with $17.8 billion total at the end of Q3’16
  13. 13. Fintech funding and deals – Q3 2016 update SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF VC-backed fintech funding took 83% of the $2.9B in overall fintech funding and 43% of overall deals in Q3’16. Q2’16 overall fintech funding was buoyed by a $4.5B investment to Alipay owner Ant Financial.
  14. 14. Fintech funding and deals – Q3 2016 update SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF $10.3B deployed across 612 deals through first 3 quarters of 2016
  15. 15. The global Fintech landscape – Q3 2016 funding update North America & Europe: slower activity Europe focus: Germany in the lead, Corporates increasingly participate SOURCE: THE PULSE OF FINTECH, Q3 2016, GLOBAL ANALYSIS OF FINTECH VENTURE FUNDING, KPMG INTERNATIONAL AND CB INSIGHTS (DATA PROVIDED BY CB INSIGHTS) NOVEMBER 16TH, 2016.
  16. 16. A view on leading Fintech hubs What are some key ingredients to develop a leading global fintech sector? ▪ Specialized talent ▪ Progressive regulatory bodies ▪ Investment capital ▪ Strong collaboration within the ecosystem ▪ … Government support … (Source: dealsunny.com infographic) SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016
  17. 17. A new initiative for startups to start & scale up in Europe (November 2016) ▪ Governments are in on the action ▪ Competent governments realize that courting fintech startups will help keep their economies prosperous ▪ UK had already launched numerous tax incentives and benefits to new businesses in the industry ▪ It is now rising across Europe to the level of the European Commission SOURCE: HTTPS://EC.EUROPA.EU/DIGITAL-SINGLE-MARKET/EN/NEWS/NEW-INITIATIVE-STARTUPS-START-AND-SCALE-EUROPE AND HTTP://EUROPA.EU/RAPID/PRESS-RELEASE_IP-16-3882_EN.HTM
  18. 18. Global Fintech hub overview ▪ The UK, Singapore, NewYork, SiliconValley and Hong Kong are the top five fintech hubs with the lowest Index Performance Score. SOURCE. HTTP://FINTECHNEWS.CH/FINTECH/REPORT-ON-TOP-FINTECH-HUBS-OF-2016/7170/ AS OF DECEMBER 2016 ▪ A new report titled ‘Connecting Global Fintech: Hub Review 2016’ released by Deloitte in collaboration with All Street Research, provides an overview of 21 fintech hubs emerging globally with a focus on each local market facts, figures and future trends. ▪ Each fintech hub gets an Index Performance Score which combines three key indices: a Global Financial Centre Index (GFCI); Doing Business 2016 (DB) score; and a Global Innovation Index (GII). A lower Index Performance Score suggests that the Hub is more favorable to the growth of fintech.
  19. 19. Fintech verticals SOURCE: THE PULSE OF FINTECH, Q3 2016, GLOBAL ANALYSIS OF FINTECH VENTURE FUNDING, KPMG INTERNATIONAL AND CB INSIGHTS (DATA PROVIDED BY CB INSIGHTS) NOVEMBER 16TH, 2016. ▪ While fintech covers a diverse array of companies, business models and technologies, companies generally fall into several key verticals, including Lending tech Lending companies on the list include primarily peer-to-peer lending platforms as well as underwriter and lending platforms using machine learning technologies and algorithms to assess creditworthiness. Payments/billing tech Payments and billing tech companies span from solutions to facilitate payments processing to payment card developers to subscription billing software tools. Personal finance/wealth management Tech companies that help individuals manage their personal bills, accounts and/or credit as well as manage their personal assets and investments. Money transfer/remittance Money transfer companies include primarily peer-to-peer platforms to transfer money between individuals across countries. Blockchain/bitcoin Companies here span key software or technology firms in the distributed ledger space, ranging from bitcoin wallets to security providers to sidechains. Institutional/capital markets tech Companies either providing tools to financial institutions such as banks, hedge funds, mutual funds or other institutional investors.These range from alternative trading systems to financial modeling and analysis software. Equity crowdfunding Platforms that allow a collection of individuals to provide monetary contributions for projects or companies provisioned in the form of equity. InsurTech Companies creating new underwriting, claims, distribution and brokerage platforms, enhanced customer experience offerings and software-as-a-service to help insurers deal with legacy IT issues.
  20. 20. The trending Fintech startups SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016 ▪ What areas do you think Fintech startups trending in? While the payments and lending subsectors continue to take the lion’s share ofVC investment, blockchain, data and analytics and RegTech are also gaining prominence.
  21. 21. Why is Fintech growing faster than other industries? I/III SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016 Examples: ▪ AccountAggregation ▪ Co-investing
  22. 22. Why is Fintech growing faster than other industries? II/III SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016 ▪ Printed material ▪ Desktops ▪ Laptops ▪ Tablets ▪ Smartphones ▪ Virtual Reality ▪ Augmented Reality ▪ … ease-of-access, seamless integrations, convergence…
  23. 23. Why is Fintech growing faster than other industries? III/III SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016 ▪ Universal bank model Business model based on offering a complete range of products & services ▪ Unbundling of a bank Dissecting the universal business model
  24. 24. The universal bank model SOURCE: HTTPS://WWW.INNOPAY.COM/BLOG/FINTECH-IS-UNBUNDLING-THE-UNIVERSAL-BANKING-MODEL-THREE-STRATEGIC-QUESTIONS-TO-ANSWER/ 31-08-2015
  25. 25. Fintech competing across the entire chain SOURCE: HTTPS://WWW.INNOPAY.COM/BLOG/FINTECH-IS-UNBUNDLING-THE-UNIVERSAL-BANKING-MODEL-THREE-STRATEGIC-QUESTIONS-TO-ANSWER/ 31-08-2015
  26. 26. Unbundling of a bank Wells Fargo website example ▪ Loans ▪ Insurance ▪ Investing ▪ Savings ▪ Checking ▪ Payments ▪ Wealth Management ▪ … SOURCE: HTTPS://WWW.CBINSIGHTS.COM/BLOG/DISRUPTING-BANKING-FINTECH-STARTUPS/ NOVEMBER 18, 2015
  27. 27. Top reasons why consumers adopt Fintech solutions SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016 ▪ Why would you adopt Fintech solutions?
  28. 28. Bank strategies to adapt to the emergence of Fintech SOURCE: HTTP://WWW.BILAN.CH/PLUS-DE-REDACTION/GRANDES-BANQUES-SUISSES-ABORDENT-FINTECH, 16 MARS 2015 Launching their own Fintech subsidiary Venture Fund To finance Fintechs Startup programs as Fintech incubators Acquisition Partnership
  29. 29. Biggest banks by Fintech investments SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF
  30. 30. Fintech funding and deals – Q3 2016 update SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF
  31. 31. Fintech funding and deals – Q3 2016 update SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF
  32. 32. Fintech funding and deals – Q3 2016 update SOURCE: HTTPS://ASSETS.KPMG.COM/CONTENT/DAM/KPMG/XX/PDF/2016/11/THE-PULSE-OF-FINTECH-Q3-REPORT.PDF The top 30 deals toVC-backed Fintech companies in Q3’16 totaled over $1.75B in funding
  33. 33. Financial Services & banks are not alone… ▪ InsureTech is the technology brought to the insurance industry ▪ Just as Regtech is bringing technological solutions to resolve issues linked to regulation of financial services SOURCE: HTTP://FINTECHNEWS.CH/WP-CONTENT/UPLOADS/2016/03/WORLD-INSURANCE-REPORT-2016-INFOGRAPHIC-CAPGEMINI-EFMA.JPG
  34. 34. Part I – key learnings
  35. 35. Part II Fintech in Switzerland
  36. 36. Swiss International Economic Positioning A STABLE NEUTRAL COUNTRYCONNECTEDHIGH QUALITY • More than 720 years of democracy; Neutral country (able to do business with anyone); • No corruption, no unions; • Stable political system, real democracy, protecting minorities • Swiss Made highly recognized (Higher sales prices); • Highly qualified workforce (technology, management, international) • Leading educational system • Internationally top ranking research institutions and efficient technology transfer; • High quantity of expatriates from many countries (37% percent expats inWestern Switzerland) • Vienna Congress of 1815 • Ideally located in the heart of Europe & the world (morning access to Asia, eveningAmericas); • Low government debt (no risk of tax increase); • Multilingual environment; • Strong law protection for personal data information (medical, finance); • Very favorable corporate tax system; no capital gain on equity sales (under conditions) • More than 100 double tax treaties with foreign countries; • 77 international treaties (IP, trade of goods, Law, etc.) (Unique one with China); • Not member of EU Community but operating under strong bilateral agreements
  37. 37. Understanding the Swiss education system 2 main federal research institutions offer high-end education. EPFL developed many sub campuses in Switzerland like IDEAP www.idiap.ch and abroad such as Dubai www.epfl.ae 6 superior education schools (not named universities) that offer Masters and Bachelors degrees, mostly in the technology sector (only 1 in economics) named Hes-so 4 universities offering all ranges of education (Masters, Bachelors, PhD) including technology. Universities are more focused on educating practitioners (Dr., lawyers, nurses, etc.) 1 art school which is high-end and internationally renowned : ECAL (collaboration with technical school for designing) Apprenticeship model followed by >50% of the students, also called “dual education” (3d/w in a company + 2d/w in a dedicated school) learning more than 635 recognized education diplomas. In 2015, of the 198k companies, 60k of them offered 94.5k apprenticeships Private education players: IMD : ranked 13 for Business Education (FT Global MBA 2016) EHL : global leader in Hospitality Management (TNS Sofres 2013) ; includes an incubator …and many others… Public education in Switzerland is nearly free for any student, even for foreigners. It wants to attract brains & innovation to keep its world-leading position in innovation.
  38. 38. Global Fintech hub overview – Switzerland ▪ With an Index Performance Score of 42, Switzerland sits between South Korea and Frankfurt. (‘Connecting Global Fintech: Hub Review 2016’) Key strengths: + Excellent proximity to expertise + Highly educated population Key challenges: - Government support has been lacking and considered insufficient to foster a dynamic fintech industry - Suboptimal legal and fiscal conditions - Risk averse culture - Underdeveloped startup ecosystem SOURCE. HTTP://FINTECHNEWS.CH/FINTECH/REPORT-ON-TOP-FINTECH-HUBS-OF-2016/7170/ AS OF DECEMBER 2016
  39. 39. Swiss technology transfer ▪ Each Swiss public technological education institution has its own technology transfer body (separated from the academic framework) aiming to develop applied research programs in collaboration with industries allowing to get CTI funding to drive such projects. ▪ In general the project is initiated by a corporation willing to address a particular problem in its field and uses the expertise of the school (University, HES-SO or EPF) for delivering a solution. ▪ The technology transfer body is independent from the academic institution. It hires employees under its payroll to deliver the project which is framed by a contract with the corporation at a lower price than if it was a private company.The technology transfer body uses the infrastructure of its academic bodies. ▪ Generally the IP belongs to the initiator; the lab having supported the development may get a licensing fee on the profits of the innovation based on the level of added value brought. ▪ The advantage for the corporation running such programs is to be near the public research institution, get up to 90% of the financing (up to 2 million) of the project, and have access to future employees hired from these schools. ▪ Examples: ▪ CETT :Yverdon-Les-Bains technology transfer body of HES-SO engineering school : http://www.heig- vd.ch/rad/cett ▪ Pactt : Lausanne university technology transfer : http://www.pactt.ch/ ▪ See all others through the SWITT (the Swiss association of technology transfer) : http://www.switt.ch/about_switt/
  40. 40. Swiss Startup scene (I) Based on Switzerland’s fundamental nature that operates all it’s politic and economical actions in a decentralized manner, the startup ecosystem is very fragmented in all its aspects (coaching, grants, tax exposure, supported field) Federal initiativesMulti-Cantonal initiatives (Western Switzerland) Cantonal initiatives Communal / district initiatives Industry focused  Life Sciences : Biotech, medTech, drug, genetics.  ICT : saas, telco, software, IoT, security, datamining.  Micromechanics : nanotech, micro, chips, watches.  Green-tech : Grid, energy, isolation.  Space industry, luxury goods (tech), Sport,Tourism.  Other-tech: FinTech, LegalTech, InsurTech, RegTech.
  41. 41. Swiss Startup scene (2) Growth phase Incubators Other financing Sibsidised services Bank debt security Legal Prizes Other Support infrastructure investment loans Most mentioned public schools offer incubators: places to site a startup. Unfortunately in most cases, it’s rather a “renting” space model. Every place boasts different advantages such as direct collaboration with the linked university. All incubators are surrounded by a large diversified panel of independent external actors to offer all neighboring services like accounting, legal, recruitment, advisory, IP attorneys, IT services, etc. Some other cantons offer recruitment grants for new hiring training program contributions, some other offers free renting space for some months. You can find many IP attorney and lawyers that have an international background. Access to seed financing (from 10 K to 1’000 K), mainly for research and prototype building. These grants are for most fully donated, a few are reimbursable loans. Each canton is having its own dedicated light financing programs for supporting different actions, like marketing research, IP filing, R&D support. For most of the total value of all the grants is not higher than 200’000 CHF (direct cash) If a startup has demonstrable sales, bank debt surety can be obtained (Max 500 K), keeping in mind that private investment must take at least 1/3 of the financial risk. Switzerland unfortunately does not offer large governmental financing for startups in a growth phase (market reach and business development). Private sector has to finance it. You can find a plethora of Swiss government subsidized coaches, trainers and supporters offering fully subsided services to startups. Some infrastructure investment loans are possible (5’000k), but require political approval (long process) Many local prizes (from 1’000 to 100’000 CHF) are rewarding “entrepreneurial” initiatives for most initiated by Swiss local government, but sponsored by local corporations. Seed financing
  42. 42. Switzerland is not easy to navigate, but it is full of good initiatives to stimulate innovation and the Fintech ecosystem … and more…
  43. 43. The past year for Fintech as seen in SOURCE: HTTPS://WWW.LETEMPS.CH AS OF DECEMBER 2016
  44. 44. Fintech in a Swiss context: a promising environment ▪ Consistent highest rank for innovation ▪ A global hub for data security: political stability, discretion and trustworthiness ▪ A strong banking and financial services tradition: well known companies, qualified labor, efficient and modern infrastructure, privacy ▪ Demanding and connected clients ▪ A light regulatory environment for technology ▪ A dynamic ecosystem ▪ An engaged and enthusiastic population
  45. 45. A strong growth ▪ Various indications on the population of Fintech in Switzerland… according to the IFZ Fintech Study 2016: ▪ 162 Fintech companies in Switzerland as of end 2015 ▪ Up from 24 five years earlier… ▪ … 200+ by end-2016?
  46. 46. A competitive environment SOURCE: HTTP://WWW.FINEWS.COM/NEWS/ENGLISH-NEWS/25126-CHINESE-PAYMENT-APP-POISED-FOR-LAUNCH-IN-SWITZERLAND ▪ Chinese Payment App Poised for Launch in Switzerland
  47. 47. A few Swiss examples of top… Fintechs ▪ Knip, an insurtech startup that has raised over US$20 million in funding ▪ Temenos, a company specializing in software for financial services ▪ Anivo, a regulated online insurance broker ▪ FinanceFox, another insurance brokerage app ▪ Monetas, a developer of blockchain-based systems for the financial services industry Fintech investors ▪ leading telecommunications provider Swisscom ▪ venture capital firm Lakestar ▪ venture capital firm Redalpine ▪ Swiss Startup Invest (formerly CTI Invest, a financing platform for Swiss tech startups) ▪ the Swiss ICT Investor Club (SICTIC), an association that connects investors to seed and early stage Internet startups.
  48. 48. A few examples of Fintech companies which supported the StartupWeekend Fintech Geneva in October 2016 eWise ▪ Innovation and security in private and secure Financial Data Aggregation and Money Management ▪ White-label money management apps ▪ Connect financial accounts ▪ Ready-to-use analytics modules Lykke ▪ Create a global internet exchange (marketplace) ▪ Where all financial instruments can be traded and exchanged against each other ▪ Whatever their asset class or the size of transaction ▪ Initial focus on foreign exchange but plan to expand into, bonds, equities, money market instruments... ▪ At a fair market price
  49. 49. Unbundling of a bank… looking at UBS Digital Banking
  50. 50. Your turn, teach us about a Fintech you know… SOURCE: HTTP://FINTECHNEWS.CH/FINTECH/SWISS-FINTECH-STARTUP-MAP-OCTOBER-2016-NEU-SWISS-FINTECH-RADAR/7388/ AS OF DECEMBER 2016
  51. 51. Top 30 Swiss Fintechs SOURCE: HTTP://FINTECHNEWS.CH/TOP-30-FINTECH-STARTUPS-IN-SWITZERLAND-2/ AS OF DECEMBER 2016
  52. 52. Top ranked Swiss Fintechs on social media SOURCE: HTTP://FINTECHNEWS.CH/RANKING-OF-FINTECH-STARTUPS-IN-SWITZERLAND/ AS OF SEPTEMBER 2016 ▪ Klout is a website and mobile app that uses social media analytics to rate its users according to online social influence via the "Klout Score", which is a numerical value between 1 and 100.
  53. 53. Where do we stand? ▪ Most dynamic Fintech companies:October 2016 report from KPMG and H2Ventures (numerous criteria including funds raised and the “X factor” capacity for innovation) ▪ Of theTop 5, 4 are Chinese ▪ Of theTop 50 ▪ 8 are Chinese, up from only 1 in 2014 ; leveraging the companies they are linked to: Alibaba and JD.com (online retail giants with hundreds of millions of customers) ▪ Ranked 28th , the 1st Swiss Fintech is Xapo (a bitcoin wallet) ▪ Ranked 48th , the 2nd Swiss Fintech is Knip (insurance aggregator) ▪ 90% seek to tackle head-on the traditional players ▪ Raised 14.6 billion USD in total, up 40% from previous year ▪ Global competition is rising, with 17 countries represented up from 13 the previous year ▪ In theTop 50 Emerging Fintech category, only 1 is Swiss:Anivo (personal online insurance broker) SOURCE : KPMG, H2 VENTURES, LETEMPS AS OF DECEMBER 2016 Paradox: in the leading country for wealth management and innovation, Fintech startups often lack the funds to grow
  54. 54. Part II – key learnings
  55. 55. You can start by a… StartupWeekend Fintech Geneva @genevafintech #swfintechgva
  56. 56. StartupWeekend ▪ Green short slide…..
  57. 57. Assemble a team to build your business model! SOURCE: HTTP://WWW.BUSINESSMODELGENERATION.COM/CANVAS/BMC
  58. 58. StartupWeekend FinTech Geneva The SPARK for setting up your future startup? SOURCE: HTTPS://COMMONS.WIKIMEDIA.ORG/WIKI/FILE:STARTUP_FINANCING_CYCLE.SVG
  59. 59. StartupWeekend FinTech Geneva SOURCE: HTTP://WWW.UP.CO/COMMUNITIES/SWITZERLAND/GENEVA/STARTUP-WEEKEND/9381
  60. 60. StartupWeekend FinTech Geneva October 2016 edition insights ▪ We are proud to have theScreener, Dybaw Regtrail and eWise as a headline sponsors, followed by other big names in finance, tech, innovation and design - such as HEIG-VD, Swiss Fintech, IBM, Fintech Fusion, Alphametry and Lykke.These awesome sponsors will offer swag, mentoring, great prizes and assets that will help make the weekend a great success for all our participants. SOURCE: HTTP://WWW.UP.CO/COMMUNITIES/SWITZERLAND/GENEVA/STARTUP-WEEKEND/9381 ▪ Event Judges ▪ Fabrice Bouland : CEO @ alphametry ▪ David Hamilton : CEO @ eWise ▪ Stefano Ventura : Professor @ the IICT Institute of the HEIG-VD ▪ Géraldine Badel Poitras : Partner @ Vecchio Avocats ▪ [TBD] ▪ Coaches and Mentors ▪ Pascal Allot : Regional Manager West Switzerland & Startup ecosystem Devt @ IBM ▪ Thomas Gendulphe : Digital manager @ BCV ▪ Vincenzo Pallotta : Professor of Management of Innovation and Product Development at HEIG-VD ▪ Eric Gregoire : Global Industry Head @ Google ▪ Manu Iyengar : Founder @ Alphametry ▪ Alexandre Gaillard : CEO at InvestGlass ▪ Thomas Veillet : Founding Partner @investir.ch ▪ Lionel ARTUSIO : CEO at YOUPASS Group SAS - Co-founder DYBAW REGTRAILS ▪ Ksenia Tugay : Innovation Manager at Inartis Foundation ▪ Co-organizers ▪ Cyrus Fazel Asset Management and Algo Trading ▪ Stanislas Laurent Fintech Product Specialist - Asset/Wealth Management ▪ Geoffroy Troesch Direct Investments ▪ Jérôme Vasamillet Startups, Wealth Management & Fintech ▪ Thibault Watine Treasury & FX
  61. 61. From idea / MVP to startup building A shortcut overview on how to find support to pass theValley of Death
  62. 62. The business life cycle Getting past the valley of death Accelerators & Incubators: different frameworks for startup success ▪ Both offer entrepreneurs good opportunities early on. ▪ Founders get help to quickly grow their business and often increase chances of attracting a topVC firm to invest later. ▪ Accelerators  "accelerate" growth of an existing company  More focused on scaling a business  A set timeframe in which individual companies spend anywhere from a few weeks to a few months working with a group of mentors ▪ Incubators ▪ "incubate" disruptive ideas with the hope of building out a business model and company ▪ More focused on innovation ▪ Typical has shared space in a coworking environment, a month-to-month lease program, and some connection to the local community
  63. 63. A few incubators and accelerators for Fintech startups SOURCE: HTTPS://WWW.DEALSUNNY.COM/BLOG/FINTECH-DIGITALLY-DISRUPTING-THE-FINANCIAL-WORLD-INFOGRAPHIC 27 APRIL 2016
  64. 64. Inno-Fuel Closing the innovation gap
  65. 65. HTTP://WWW.INNO-FUEL.COM/ Fueling the innovation ecosystem • External Innovation focus • Start-up/Early stage investing DNA and Ecosystem (30+) • Value Creation & Initiative taking • Hybrid entrepreneurial business model • Extensive Expertise in various industry value chains ‘We fuel the innovation ecosystem’
  66. 66. Inno-Fuel: our activities Customer & Market - Customer Needs - Market Identification - Partner identification - Value Chain Understanding - Business Case & Execution, Design & Planning Innovation Strategy & Management - Strategy design, planning, governance & process & performance management - Coaching & best practices (Co-creation, design thinking, business modelling, performance mgt.,…) Technology Understanding - Technology Scouting - Materials & Process Selection - Ind. Design & Proto-typing - Technological Solutions Risk & Entrepre- neurship RichTech Environment Global Market Needs HTTP://WWW.INNO-FUEL.COM/
  67. 67. Thank you for your attention JérômeVasamillet (Advisory Board – Fintech at Inno-Fuel) j.vasamillet@inno-fuel.com Rue des Marchandises 13 - 1260 Nyon - Switzerland T: +41 (0) 22 361 23 44 W: www.inno-fuel.com

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