Gust Wins New York Innotribe Startup Challenge Showcase
Gust, an investor relations platform integrating essential collaboration tools for both entrepreneurs and investors, was honored as the recipient of the “Top Innovator” award from SWIFT´s Innotribe Startup Challenge Regional Showcase.
New York, NY (PRWEB) February 18, 2012
On February 8, 2012,Gust, an investor relations platform integrating essential collaboration tools for both entrepreneurs and investors, was honored as the recipient of the “Top Innovator” award from SWIFT´s Innotribe Startup Challenge Regional Showcase. The Innotribe 2012 Challenge is a year-round program that features three Regional Showcases in the US, Asia, and Europe where participants gather for fast-paced company pitches, insightful discussion of emerging innovations, and social networking events. Gust won the title of “Top Innovator” with innovation in the sourcing and managing seed and early-stage equity investments; the platform´s infrastructure enables qualified entrepreneurs to connect and collaborate with accredited early-stage investors for their funding needs.
SWIFT, the financial messaging provider for over 10,000 financial institutions and corporations in 210 countries, established the Innotribe Startup Challenge to foster innovation in the financial industry by introducing leading product and service providers in FinTech and financial services to leading angels, VCs, and decision makers among SWIFT´s 10,000-plus member community.
“We are honored by this award and thank all the organizers and judges of the 2012 New York Innotribe Startup Challenge,” said David Rose, CEO of Gust. “We value SWIFT´s recognition of our dedication to expanding the early-stage financing space. Our platform maximizes opportunities for investments and winning exits through building innovative technologies, increasing communication, and enabling the easy transfer of resources from investors to entrepreneurs on a global scale.”
The New York Startup Challenge was the first of three regional challenges; the second will be taking place in Singapore in March, followed by Belfast over the summer. This year´s Startup Challenge was sponsored by Sberbank, Invest Northern Ireland, Cisco, and Guidewire Group.
Judges for the challenge evaluated the candidates based on a number of criteria, including novelty/innovation: how the product/service presents a new and novel approach to solve a recognizable problem for the financial industry; market potential: whether the product´s market is a big macro opportunity and whether the company has a scalable business model; commercial viability: whether the company has evidence of strong execution, defensible competitive advantages and market traction; and finally, team: Whether the team has the talent and expertise required to realize the opportunity as a whole.
Kosta Peric, Head of Innovation at SWIFT said, “The New York Innotribe Startup Challenge was an unparalleled opportunity to get a glimpse into the future of the relationship between technology and financial services. We look forward to welcoming Gust at the Innotribe Startup Challenge finals at Sibos later this year.”
As “Top Startup” and “Top Innovator” for the Americas Showcase, P2P Cash Technology and Gust will now advance to the Innotribe Startup Challenge finals to be held at Sibos — SWIFT´s annual conference — in Osaka, Japan in October of 2012.
Gust provides the global platform for the sourcing and management of early-stage investments, enabling skilled entrepreneurs to collaborate with the smartest investors by virtually supporting all aspects of the investment relationship, from initial pitch to successful exit. Gust is endorsed by the world’s leading business angel and venture capital associations, and powers over 750 investment organizations in 65 countries. More than 125,000 start-ups have already used the platform to connect and collaborate with over 35,000 individual accredited investors. The company was founded in 2004 under the name Angelsoft and is privately held. Gust is based in New York, New York, with a development center in Vancouver, British Columbia, and European office in Paris, France.
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.
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