As with all monthly CVG meetings, the Financial Technology event was one where networking took precedence. Sixty-two movers and shakers from the Crossroads Venture Group Community gathered to grow the Financial Technology sector in Connecticut. There were company showcases and presentations, an investor panel that gave live feedback to presenting companies, as well as a keynote speaker and time for networking both before and after the program.
Three strong Rising Entrepreneurs presented at this months CVG event in front of a panel of experienced and knowledgeable investors. After each presentation, investors had the opportunity to ask questions and provide feedback while audience members jotted comments on their Pitch Feedback Cards. Feedback cards were distributed to the presenters during the post-program networking hour.
Cardinal Wind – Presented by Mike Reynolds, Co-Founder & CEO and Teasha Feldman-Fitzthum, Co-Founder & CTO, is bridging the gap between engineers and the financial analysts to better help investors understand the wind-power industry in order to make future investment decisions. Cardinal Wind’s niche market is based on the fact that wind energy is difficult to measure and is over-saturated by conservative investors who are timid when it comes to a project that may yield considerable risk. Cardinal Wind incorporates patent-pending machine learning alogrothm technology invented at MIT, technology that will benefit both banks and institutional owners as well as wind energy owners and operators. Cardinal Wind is currently seeking support in the form of capital resources, connections to industry players like banks and insurers, as well as advisory members for their board.
Reality Crowd TV – Presented by Manolis Sfinarolakis, Founder and CEO, is not another crowdfunding site. Reality Crowd TV is a virtual incubator & crowdfunding network founded to provide support for those embarking on crowdfunding. The virtual incubator is comprised of the following elements; high quality mentors and experts, readily available educational programs, and funding platforms. In effect, it is the traditional incubator concept 100% online. Reality Crowd TV will offer three levels of service; one that offers the basic, free resources for do-it-yourselfers, a premium level that will allow access to experts, and an incubation level that offers more structured programming. Reality Crowd TV is seeking resources in order to scale the following business areas: Advisory board member with SAAS expertise, CTO hire, CMO hire, and a search for strategic partners in both accelerators and incubators.
SmartPay Solutions – Presented by Bob Conerly, CEO and President, provides pay-as-you-go workers’ compensation insurance administration and billing solutions through proprietary software. According to Conerly there is an enormous, un-tapped market for this type of service and projects the company could easily pull in $52 billion in annual premiums. Also according to Conerly, competition has yet to reach SmartPay’s level. Similar providers like Paychex, ADP and Paygo require that they be the agent for their clients – SmartPay Solutions does not. In short, SmartPay “builds the connections so others don’t have to” allowing payroll venders and carriers to do business through SmartPay Solutions. SmartPay is also the only solution that currently offers premium financing.
Presenting Companies presented to a panel of experienced investors:
- Valerie Gelb, CEO, Gelb Global
- John Strahley, Managing Director, Ironwood Capital/Advantage Capital
- Matthew Storeygard, Senior Investment Associate, Connecticut Innovations
- Ted Yang, Angel Investor Forum
Immediately following the entrepreneur presentations, keynote speaker Kiran Lingam, Investment Team and General Counsel at SeedInvest and Board of Director at TiE Angels NYC, discussed the early stages in Fintech trends. These included P2P/Marketplace Lending, Investment Platforms, and Cryptocurrency (Bitcoin). According to Lingam, P2P lending is just getting started, especially in small business lending, consumer lending, and real estate.
We hope you will join us in two weeks at the Digital Media Makeup Event at the Stamford Innovation Center.
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