Boston June 3, 2013 – PeopleHedge is pleased to announce that we have been selected as a semi-finalist of the Innotribe Startup Challenge, honoring the company as one of the most promising financial technology and financial services startups. On June 13, PeopleHedge will compete against 14 other startups at Innotribe Challenge Showcase in New York to secure a place as a finalist for the $50,000 grand prize and continuous exposure to investors and financial institutions via the SWIFT global community.
Innotribe, SWIFT’s initiative to foster collaborative innovation in financial services, and a panel of industry experts selected 15 semi-finalists from hundreds of applications to enter the Challenge. PeopleHedge will pitch our solution to a panel of the financial industry’s leading angels, VC’s and decision makers.
PeopleHedge is leveling the international playing field for small businesses by giving them access to the same currency risk management tools that large corporations use every day. Our simple, web-based product works like insurance for foreign exchange rates. If your currency rate moves against you, we reimburse you for any losses… but if rates move in your favor, you keep the profits. We believe this is a great product for institutions in the SWIFT community to offer their clients, and that is why we entered the Innotribe Startup Challenge.
The winners of the Startup Challenge Showcase in New York will receive the opportunity to attend SIBOS in Dubai where they will compete for the $50,000 prize against other finalists from the London and Singapore Challenge Showcases.
Matteo Rizzi, Co-founder of Innotribe, says “I’m delighted to announce PeopleHedge as a semi-finalist and look forward to discovering more about the business. This year’s semi-finalists have assessed the developments and trends in the region and have identified opportunities in the market. The entrants have each demonstrated a forward-thinking and innovative approach to the financial sector and have developed startup businesses which could have profound impacts on the future of the industry. I’m extremely excited to give PeopleHedge the opportunity to pitch its ideas to some of the top decision makers in the industry”.
We’d like to thank SWIFT Innotribe, Invest NI, HP, Level39, Sberbank and the other Innotribe Challenge Partners for making the Innotribe Startup Challenge possible.
For further information about the Innotribe Startup Challenge, please visit: http://innotribestartup.com/ or follow @innotribe on Twitter.
About Innotribe
Launched in 2009, Innotribe is SWIFT’s initiative to enable collaborative innovation in financial services. Innotribe presents an energising mix of education, new perspectives, collaboration, facilitation and incubation to professionals and entrepreneurs who are willing to drive change within their industry. It fosters creative thinking in financial services, through debating the options (at Innotribe events) and supporting the creation of innovative new solutions (through the Incubator, Startup Challenge and Proof of Concepts (POCs). It is through this approach, the Innotribe team at SWIFT is able to generate a platform that enables innovation across SWIFT and the financial community. For more information, please visit http://www.innotribe.com/.
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 210 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
For more information, please visit www.swift.com or follow us on Twitter: @swiftcommunity and Linkedin: SWIFT.
PeopleHedge Presents: FOREX Effects 