SHINING A LIGHT ON CANADIAN INNOVATION WITH THE DIGITAL COMMERCE CALGARY FINTECH AWARD

BY RENNAY CRAATS

Startup founders know better than most how tough it is to get a foothold in their market, and the scarcity of venture capital funding today only makes it that much harder to grow. DC Bank understands the challenges of growing a startup and is proud to offer not just funding but also a chance for fledgling companies to network with others operating in Canada’s booming fintech space with the second annual Digital Commerce Calgary Fintech Award.

“We are thrilled to provide this opportunity for fintech startups across Canada. With $300K in non-dilutive funding, the largest award in Western Canada, we are making a bold statement in our commitment to supporting entrepreneurs and fostering innovation. This award will enable visionary founders to transform their ideas into reality and contribute to the vibrant fintech ecosystem in Canada,” says Jeff Smith, president, co-founder and CEO of DC Bank.

Over the past few years, Canadian fintech entrepreneurs have pushed the boundaries and innovated new ways to deliver e-commerce solutions, making Canada, and specifically Calgary, a hub for the sector. There is definitely a strong sense of community and collaboration in Calgary’s tech ecosystem, and more companies, both established and emerging fintech businesses, are choosing to grow their companies here. Calgary particularly has real benefits for entrepreneurs, from value-oriented cost of living to access to international markets, the city is quickly becoming a global tech hotbed and is attracting significant investment as well as talent as it develops fintech solutions in everything from debt management to insurtech to paytech.

DC Bank and Platform Calgary strengthen the tech industry further across the country and are helping startups launch and grow their businesses through the Digital Commerce Calgary Fintech Award. This year the award is expanding, giving away more than $300,000 to three fintech startups rather than two, and startups from across the country are eligible to take part in the award and programming. The award brings together national expertise, redefines finance on a national scale and reinforces Calgary’s position as a great place for fintech companies to build their businesses’ future.

The judges choose 25 companies out of a large pool of nationwide total applicants, all of whom are in the seed stage as they gain traction and actively grow their fintech businesses. Those selected then take part in a variety of workshops and seminars in subject areas including investment readiness, managing software delivery, contracting with financial institutions and identifying customers and sales prospecting. Over the course of the intensive six-week program, applicants are given the opportunity to network with other entrepreneurs, receive mentorship from experts in the field and be part of discussions about emerging trends and challenges in the market.

“In our experience working with almost 500 companies, founders are typically very product focused and lack education and support to build stage appropriate, go-tomarket strategies that will help them succeed,” says Sarah Morrill of 321 Growth Academy and workshop facilitator with the Digital Commerce Calgary Fintech Award. “The 321 Prospecting Workshop gets founders started on a critical step to scaling sales activities, learning tactics they can implement immediately to build the top of their funnel.”

Throughout the process, the pool is narrowed down to 10 semi-finalists, who are chosen based on how innovatively the startup optimizes and enhances the way consumers and companies interact with financial services, with the key factor being its potential to disrupt the financial technology space. The final 10 entrepreneurs participate in in-person events and workshops including pitch coaching and then the top five startups pitch their company to judges live at the Calgary award showcase in October.

“The applicants who stand out and advance are those who bring fresh and disruptive ideas to the fintech landscape. We carefully evaluate factors such as their product or service’s scalability, market potential, the expertise of their team and the viability of their business plans,” says Terry Rock, CEO of Platform Calgary.

The top three fintech entrepreneurs not only gain exposure for their companies but also the coveted cash prizes: $125,000 for first place, $100,000 for second place and $75,000 for third place. There will also be a Community Builder Award of $50,000 given to a startup whose product or service addresses a significant social and community issue.

The Digital Commerce Calgary Fintech Award is the largest fintech award in Western Canada and is setting the standard for how to embrace and foster innovation in fintech across the country. With cash prizes and the game-changing opportunity to learn from experts in the field, The Digital Commerce Calgary Fintech Award is creating tomorrow’s Canadian fintech powerhouses today.