Sydney hub a huge boost for fintech growth in Asia Pacific
(27 August 2015 – Australia) An independent not-for-profit financial technology (fintech) hub with ambitions to become the heart of fintech in Asia became a reality on 25 August.
Stone & Chalk opened its doors in Sydney’s CBD with 41 of the country’s highest potential startups unveiled, totalling 120 people following an intense six-month process to identify world-class Australian fintech startups.
The hub includes a 2300 square metre collaborative workspace that puts Australia squarely on the international map in the fast-emerging fintech sector.
Stone & Chalk chief executive Alex Scandurra said from the outset the aim had been to attract the highest quality fintech startups in Australia, co-locate them under one roof, and support fast tracking their growth to ultimately help them go global.
“We have been inspired by the talent and diversity of the startups who have applied, and the potential they have to transform Australia’s multi-billion financial services sector.
“And today is just the start, as we continue to welcome more Stone & Chalkers over the coming months and fill around 200 seats by the end of the year.”
The initial startup line-up spans a wide ranges of industries, from superannuation to predictive data analytics; as well as technologies, from consumer apps to crypto currencies.
Companies are all at varying stages of growth, with established players such as VentureCrowd, H2 Ventures and Zetaris having taken up space alongside yet-to-launch ventures and early stage startups.
Resident companies in the hub will have access to supporters from financial institutions, technology companies, leading universities, government and regulators.
Stone & Chalk will run events, mentorship and accelerator programs, as well as foster connections with the wider startup, technology and financial eco-systems here in Australia and globally.
The New South Wales government has provided support for the initiative, with Anthony Roberts, NSW Minister for Industry, Resources and Energy opeing the hub.
Roberts said: “Sydney is at the nexus of Australia’s finance, digital, creative and startup sectors and we’re ideally located for growth in the Asia Pacific region.”
Corporate partners have also contributed financial and professionally more than A$2 million, including Allens, American Express, AMP, ANZ, Australian Stock Exchange, Capital Markets CRC, FINSIA, Finzsoft (NZ), HSBC, IAG, IBM, KPMG, Macquarie Group, Optus, Oracle, Suncorp Bank, TAL, Thomson Reuters, Veda, Westpac and Woolworths Financial Services.
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