12 Atlantic Canadian Companies Attending Global Fintech Conference In Las Vegas
MONCTON – Venn Innovation, the Moncton-based tech hub, is leading a mission to bring 12 companies from Atlantic Canada to the Money20/20 conference in Las Vegas with support from the Atlantic Canada Opportunities Agency (ACOA).
Money20/20 is a global financial technology (fintech) conference focusing on the future of money. It takes place in the U.S., Europe and Asia.
The U.S. edition will take place October 27-30 this year. It will be attended by executives of banks like J.P. Morgan and HSBC, Fortune 500 companies, internet giants like Amazon, major payment companies like PayPal.
“Venn’s goal for this project is to bring growth-ready Atlantic Canadian fintech companies to the forefront of the global fintech industry,” said president and CEO Doug Robertson. “We’re doing that through pre-scheduled meetings with thoroughly vetted qualified leads, maximizing [the startups’] potential to expand in both the U.S. markets and internationally. We’ll be working with fintech experts not just in the region but also in the U.S., including personnel of the conference.”
The fintech sector is a fast-growing industry that includes everything from banking to payments to automated transactions, Robertson noted. It covers technologies like blockchain and artificial intelligence, too, he said.
Venn has selected 12 Atlantic Canadian companies to help prepare for the conference. They were all chosen because they’re deemed ready to take on the opportunities that arise at the conference.
“These are not idea-stage or early-stage companies. These are companies that are selling and have clients, so the readiness to take on this opportunity not only in the U.S., but also globally, was very important part of the decision making,” said Alicia Roisman Ismach, Venn’s entrepreneur-in-residence who has been integral to the selection process.
“The other part was of course the differentiation and innovation they present…We need companies with capabilities to be positioned for growth through this opportunity, differentiating themselves from competitors and bring visibility.”
The names of the companies will be announced at a later date, but the technologies they offer are “very relevant” to the conference, Robertson said.
Ismach noted that the companies in Atlantic Canada particularly have strength in technology for back-office operations.
“This is really the secret sauce of the region – the ability to understand how the back office operates and what’s needed to improve processes,” she said.
Venn has been looking at the fintech sector for a few months, seeing significant opportunity for the sector’s growth in Atlantic Canada, Robertson said.
“As we worked on our study of the fintech sector in Atlantic Canada, we’ve been sharing what we’ve learned with ACOA. We see some really interesting opportunities with the fintech sector and obviously ACOA has an interest in supporting growth-stage companies and supporting export market development,” he said.
ACOA has contributed round $170,000 for this project, Robertson said. Venn will provide pre-mission support, including training and matchmaking services from a fintech expert to help the companies prepare for the conference. The companies will also take part in a Canadian networking event.
Venn will also provide post-mission support and aftercare to maximize opportunities for investment, partnership, and sales coming out of the conference.
The companies taking part will pay for their own transportation and fees to enter the event.
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