Fintech71 is ringing in the New Year riding the innovation wave with plenty of fresh buzz surrounding the conclusion our inaugural cohort, closing showcase, and future pursuits to keep the financial edge in Ohio. Take a look at some of the coverage below!
Fintech71 Looks to Fund Ohio Financial-Sector Startups, Columbus Dispatch – The article by the Columbus Dispatch acknowledges the nonprofit startup accelerator, Fintech71, as a key player in keeping the financial edge of the banking and insurance sectors in Ohio, “By accelerating and backing startups, Fintech71, along with their sponsors and supporters, hope to help speed the selected companies overall growth.”
The ultimate goal of the program is to help these startups gain traction and establish their headquarters or another type of presence in Ohio, while the backers of Fintech71 can benefit from the technology and innovations that the companies are bringing to the state.
“It’s a good thing for Ohio. It’s a good thing for the private sector. It’s a good thing for the contributors and the startups,” said Matt Armstead, Fintech71′s executive director.
The article highlights Fintech71’s inaugural class and their successes over the ten-week program, paying particular attention to Steady, an application to aid the independent workforce. According to Adrian Brecker, Steady’s director of strategic partnership, “The No. 1 value (of Fintech71) is the accessibility and the relationships you build,” he said.
As for the companies supporting Fintech71, the goal is to be apart of the next wave of innovation in banking and insurance. Companies like Grange Insurance are ready to catch the wave and become a leading-edge insurance company.
“We’re choosing to disrupt ourselves before we can be disrupted,” Cheryl Lebens, vice president and chief strategy officer of Grange Insurance, said at last month’s board meeting of JobsOhio, the state’s nonprofit economic-development company, which like Grange provides support for Fintech71.
The article finishes on a high note, breaking the news that Fintech71 will be accelerating a second class of startups in the fall of 2018 and reinforces Ohio’s need to continue to invest in fintech startups and the financial sector in the years to follow. Jobs in areas of new tech, such as: machine learning, artificial intelligence, blockchain, and cryptocurrencies will pay high and lead to big changes for consumers and businesses who are ready to embrace the world of fintech. Read More
Going Somewhere Fast, Columbus CEO Magazine – Columbus CEO’s article focuses on many central Ohio sectors that are gearing up for a big 2018. Sectors like transportation, retail, hospitality, and housing are showcased in a roundup of predictions and expectations for what developments, trends, and challenges the Ohio economy will deliver in the New Year.
Fintech71 was featured under the Finance section of the article and hones in on the potential for growth through industry-shaking approaches. Approaches utilizing financial technology, (Blockchain, artificial intelligence and immersive augmented and virtual reality), are the platforms powering the next wave of disruption.
Matt Armstead, executive director of financial accelerator Fintech71, shares his thoughts: “These technologies will create more transparency; they will decentralize the need for existing forms of governance/compliance resulting in highly trusted experiences that will disrupt the status quo in almost every industry,” he says.
Armstead also believes that we will see much more opportunity for collaborations between companies, particularly interactions between established companies and startups.
“Retail, insurance and financial services startups will see more collaborative opportunities. We will see more innovation and partnering between startups and big companies in the strongest market sectors Columbus has been traditionally known for; in fact, we are already seeing it with Fintech71 and its strategic partnerships with banks and insurance companies across the state,” Armstead says.
Growth is expected to keep increasing in Ohio and 2018 is shaping up to look like a disruptive year for the state’s major industry sectors. Organizations like Fintech71 are ramping up to take advantage of the opportunities that emerging technologies are providing businesses, the economy and our local workforces. This is the year of fintech. Read More