A couple of days ago Lazaro, Mariela and I sat together and, treasuring the experience of the first 4 events with FinTechStage, we tried to spell out our mission, and the first thing we did was to define different Type of FinTech Eco-systems, to assess where the value we can bring reaches its best potential.
We came out with FOUR categories:
In many countries there is some form of Startup gathering and related capital, and even a significant banking presence.
FinTech is more a “wave” they see being talked about, but there is no “go to” place to even have a meaningful discussion. Capital and Statups are definitely not focusing on FinTech, and at best there is a Meetup around a beer (I am not undermining here, it s actually a great excuse to have a beer :))
Up until only 12 months ago, this category (in developed countries) was by far the biggest.
In this type of eco-system you can easily identify the FinTech initiatives, either from financial institutions or private (sponsored) incubators and accelerators and few local gaterings on the topic.
Venture Capitalists have these countries on their radar, and often there is little “local” FinTech Capital available, mostly because the effort of local scouting is left to the goodwill of the global investors themselves.
Disorganised Eco-systems tend to set up local events mostly, for the very precise reason of getting together the different pieces of the system, and to exchange with other experts or listen to Chris Skinner they have to go abroad (Chris, I have stolen you a slide today, I making it up :))
The nuance between this category and the “Disorganised” one is actually very thin.
An Organised (FinTech) system has a local catalyst, and what we observed is that it usually works best when this role is taken by some sort of super-nation, government or community backed (or linked) and in any case non-commercial, “super partes” body. Like Luxembourg for Finance, Holland Fintech, FinTech CH, Innovate Finance, FinTech France, FinTech HK and others.
A strong nuance between Disorganised and Organised eco-systems is the sense of sharing and collaboration, and i have a story about it.
FinTechStage is mainly a sponsorship based business, that s how it gets sustainable.
Whilst in certain countries having two big banks co-sponsoring the same event is just an utopia, on other places they are OVER the “pissing contest” stage, and understand how the engagement with the start-ups, the investors, and the other innovators from the rest of the world is the right approach.
In our last event a government-backed organisation acted as the single point of contact with the entire financial community, to organise without doubt has been the best Fintech Event event in the country.
London, New York.
Now, we have to make a difference between the Financial Services Centres and the FinTech Centre. For Singapore and Honk Kong, for instance, I am not sure – yet – what would matter the most.
This exercise was extremely helpful.
Discovering talent, bringing or build capital, bridging the different communities in for the Disorganised and the Organised Eco-systems and structure great content is what FinTechStage should do and what he does best.
Is not perfect, and we have plenty of ideas on how to make it better.
I have NOT nominated any of these (category 2 and 3) on purpose, I am expecting you reactions to figure out wether or not I made sense of it and – most importantly – where some of the countries of my readers might stand.
Italy, for example, was disconnected until two years ago, and is getting disorganised, which sounds rough but is actually a positive sign (and – of course – my opinion). Actually my almost omonym Prime Minister, that s a call for you. Well, there will be more YouTube video with your english sloppiness, but I have plenty myself 🙂