The NSW Government has announced the first eight fintech startups to enter the Tel Aviv landing pad, one of five that has been commissioned by the the Federal Government’s Australian Trade and Investment Commission (Austrade). Looking to push Sydney’s reputation as Australia’s fintech capital, the NSW Government worked in partnership with Austrade to help get local startups to Israel.
Minister for Industry, Resources and Energy, Anthony Roberts said the landing pad would allow Australia’s best and brightest to access talent, mentors and investors in Israel, one of the world’s most exciting innovation hubs. The Australian cohort will partake in a two week program, working closely with innovative Israeli startups.
“Israel is one of the most exciting and innovative business environments in the world and this initiative is built on the Premier’s recent visit to Israel where NSW and Israel committed to invest $2 million into cooperative startup and innovation projects,” Roberts said.
“NSW is without question Australia’s startup state, with about half of all startups listing the state as their primary place of business and with major strengths in the fintech and cyber-security sectors.”
Along with participating in the landing pad program, the fintech startups will be exploring potential commercialisation partners under the agreement and will also be participating in the DLD Tel Aviv Innovation festival.
At the signing of the agreement earlier this year between the NSW and Israeli Government, Premier Mike Baird said that he wanted to make NSW the ‘startup state.’ By establishing a formal partnership between the state’s businesses, universities, researches and their counterparts in Israel, NSW is stepping closer to reaching it’s full startup potential.
“Israel is one of the world’s most innovative economies, and by creating a new corridor between Israel and ourselves – on issues such as cyber security, financial and medical technologies, and innovation – we can increase NSW’s competitiveness in the future digital economy,” said Baird.
There are five landing pads in total including Tel Aviv, San Francisco, Berlin, Shanghai and Singapore. Each landing pad is set to provide Australian startups with a 90-day residency at an established coworking space, along with advice and connections to assist them to scale up in a global market.
Last month San Francisco became the first landing pad to welcome Australian startups to its coworking space. The startups work of San Francisco’s RocketSpace accelerator campus, where like Tel Aviv they will receive mentoring, networking opportunities with investors and guidance on how to enter the local market.
The first cohort of startups taking their place at the Tel Aviv landing pad are:
CapitalPitch – is a platform that helps optimise a startups investment by combining acceleration, venture capital and technology to provide investors a curated source of emerging growth companies.
FlashFX – enables consumer and SME clients to control their cross border money transfers.
Meeco – a life management platform that gives individuals the ability to capture, store, sync and share their personal data and identity.
Sail – provides transparent online business loans to SMEs, allowing them to better balance cash flow and enable future growth.
Manner by Riisk – platform that facilitates connectivity and accessibility for the world’s insurance markets.
Phriendly Phishing by Shearwater – is a service that blends technology and training into one platform for an additional layer of detection and success.
Simply Wall St – helps do-it-yourself retail investors worldwide make better decisions by providing our users with access to institutional quality data and analysis presented visually as infographics.
Valiant Finance – is a business loan marketplace that aims to empower small businesses seeking finance with transparency and choice.
Image: NSW Department of Industry, Austrade and fintech startups selected for Tel Aviv landing pad. Source: Supplied.