Cambridge Blockchain took the grand prize at the Santander InnoVentures Blockchain Challenge on January 27 in New York. Eight blockchain startups competed for the $15,000 award and the chance
Cambridge Blockchain took the grand prize at the Santander InnoVentures Blockchain Challenge on January 27 in New York. Eight blockchain startups competed for the $15,000 award and the chance to partner with Santander.
The company builds identity verification tools on a permissioned blockchain that works within existing legal frameworks. Cambridge Blockchain aims to help industries requiring strong identity checks modernize their legacy systems, offering them new efficiencies, cost savings, and competitive advantages.
Midasium placed second with its decentralized real estate ledger. RibbitReward came third with a blockchain-based reward program.
The challenge launched in November 2015 as a project of Santander InnoVentures, Santander Group's $100 million fintech venture capital fund. Onevest, a crowdfunding service for startups, ran the competition alongside Santander.
Meanwhile, Everledger won the Fintech Finals 2016 pitch competition in Hong Kong. The company took home a $10,000 grand prize after 24 finalists pitched to an audience of fintech professionals.
Everledger, a London-based startup, operates a permanent ledger documenting diamond certification and transaction history. Insurance companies, owners, and law enforcement rely on it for verification and provenance tracking.
The company had won the BBVA Open Talent 2015 competition in September, earning €30,000.
Three other startups won category honors at Fintech Finals 2016. InvoiceInterchange of Singapore took Best Early Stage Start-up. Uniken, based in India, won Best Growth Stage Start-up. 8Securities of Hong Kong won Best Mature Stage Start-up.
One judge, Ruben Salazar of Visa, serves as Vice President of Product Design and Development for Asia Pacific. He offered his impressions of the competition. "I was impressed with the quality of the companies showcasing their solutions. It is very encouraging to see the whole innovation ecosystem looking for partnerships and opportunities to co-create. The fintech community in Asia is strong and very active with large and small firms collectively responding to consumer needs."
The Fintech Finals 2016 was part of StartmeupHK Festival 2016. The two-day event in Hong Kong ran January 25 and 26. The first day featured a full fintech conference. The second day held a pitch competition along with six focused summits on specific topics. NXT BNK and Fintech HK organized the event, with sponsorships from Visa, BBVA Innovation Center, Startupbootcamp Fintech, Fintech Innovation Lab, and government partners StartmeupHK and InvestHK.
