Monday, 18 March 2019 11:09

Stone & Chalk, Enterprise Ireland partner on Australian, APAC fintech initiative

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Stone & Chalk, Enterprise Ireland partner on Australian, APAC fintech initiative Image courtesy of adamr at FreeDigitalPhotos.net

One of Asia’s larger fintech innovation hubs, Stone & Chalk, has partnered with Ireland’s national trade and innovation agency, Enterprise Ireland , to develop a a so-called landing pad in both Sydney and Melbourne for Irish fintech companies seeking to enter Australian and Asia Pacific markets.

According to S&C, the company was chosen for its “market-leading record of generating commercial outcomes between ventures and corporates, and its exceptional network of start-ups, scale-ups, mentors, investors, and corporate partners”, which chief executive Alex Scandurra calls a “one-of-a-kind marketplace for supply and demand in fintech innovation”.

“It takes a metaphorical village to raise a fintech, and this type of highly connected and high quality village is what we offer here at Stone & Chalk. We don't sell space, we enable success,” he said.

“For innovation to thrive, we require more than just a room full of computers, a few motivational posters, and a common Wi-Fi. We need to bring together all the different parties on either side of the supply/demand model within the one mutually-beneficial ecosystem – including from across international borders.

“The partnership with Enterprise Ireland will create a highly valuable bridge between Ireland and Australia. As Stone & Chalk residents, Irish ventures will join our unique marketplace that includes 27 Australian and international corporate partners, and over 650 entrepreneurs working in over 100 start-ups and scaleups. They will gain access to our corporate and government partners, and our mentor and investor communities, who have helped our start-ups and scaleups secure over $320 million to date.

“We are thrilled to announce this new partnership between our two regions and are looking forward to the exciting developments that will unfold for Australian fintech as a result.”

Enterprise Ireland is responsible for the development and growth of Irish enterprises in world markets. It’s the third largest VC in Europe by deal count, investing $37 million into 132 Irish start-ups in 2018 alone, and has a portfolio of 200+ financial services and fintech firms that generated more than €1 billion in revenue in 2017.

And S&C says Australia is also the third largest market globally for Irish fintech exports after the UK and US, including success stories such as Taxback, Currency Fair, Fexco, Daon, Fineos, Fenergo, Kyckr, Brightflag, and Priviti.

Ireland’s Minister for Business, Enterprise and Innovation, Heather Humphreys said: “As part of the Global Ireland 2025 initiative, Ireland is expanding our global footprint particularly in the Southern Hemisphere and Asia Pacific region through increased investment in our international offices, travel connections and building exciting partnerships such as this with Stone & Chalk.

“I look forward to seeing the great results that will come from Australian and Irish innovators working closely together to shape the future of the fintech industry both here in Australia, back in Ireland and across the globe.”

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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