New York, NY (PRWEB) November 06, 2012
On November 1, 2012, Gust, the international investor relations platform integrating essential collaboration tools for both entrepreneurs and investors, was honored as the global Most Innovative Financial Technology Company by SWIFTs Innotribe Startup Challenge at the SIBOS 2012 conference in Osaka, Japan.
The Innotribe 2012 Challenge was a year-round program that featured three Regional Showcase competitions in North America, Asia and Europe, at which participants gathered for insightful discussion of emerging innovations and regional showcases to discover the most innovative startups and innovators in financial technology. The regional events culminated in a final round competition at SWIFTs SIBOS 2012 conference, bringing together over 6,000 participants for the banking industrys leading annual gathering.
Gust, whose platform has been adopted as the official collaboration network of the national business angel federations in 15 countries, was voted Top Innovator out of a field 400 companies at the Regional Showcases, which was narrowed to 15 finalists invited to compete for the top prize at SIBOS. Over 150,000 entrepreneurial startups in 195 countries are already using Gust to manage their relations with over 40,000 investors from over 1,000 business angel networks and venture capital funds.
“By selecting Gust as the Top Innovator for 2012, Innotribe has confirmed our vision of a single, comprehensive, global platform for early-stage equity financing, integrated with the world’s existing banking and investment institutions” said David S. Rose, Founder and CEO of Gust. “We very much look forward to working with SWIFT and its members to continue deploying the Gust platform in support of the entrepreneurship and innovation economy around the world.”
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 SWIFTs 10,000-plus member community.
Judges for the challenge evaluated the candidates based on criteria including novelty and innovation, market potential, commercial viability, and team. Candidates were assessed on how the product or service presents a new and novel approach to solve a recognizable problem in the financial industry and whether the company has a scalable business model. They looked for evidence of strong execution, defensible competitive advantages and market traction and finally, whether the team has the talent and expertise required to realize the opportunity as a whole. The final deciding question on which judges were asked to vote was How important is this company to the future of the financial industry?
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 the official platform of the world’s leading business angel and venture capital associations, and powers over 1,000 investment organizations in 65 countries. More than 150,000 start-ups have already used the platform to connect and collaborate with over 40,000 individual accredited investors. The company was founded in 2004 and is privately held. Gust is based in New York, New York, with offices in Vancouver, British Columbia, and 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.