Two Swiss Start-ups among UBS Fintech Challenge Global Finalists
Author: Stefan Kyora16.11.2015 14:51
Biowatch and Embotech made it to the finals of the UBS Future of Finance Challenge. The global finals will take place in Zurich on 10 December.
UBS’s innovation teams around the world are already driving new concepts from ideation through prototyping into development. With the Fintech Challenge UBS invited innovative companies to join this process by presenting their idea to the UBS teams and then developing it with input and support from the bank.
Four regional finals were held around the world in the last weeks. 60 companies were selected for the regional finals, twelve of them have now the chance to compete for the prizes. UBS offers the winners a share of over US$300,000 cash prizes and support, over 300 hours dedicated coaching and mentoring from experienced technology and business leaders, and also a chance to further commercialize and scale their ideas and technologies with help from UBS resources and support.
The two finalists from Switzerland are:
Embotech: real-time, interactive portfolio optimization on mobile devices
Embotech, short for embedded optimization technologies, was founded in September 2013. The start-up strives to lead the market for numerical optimization solutions that will be integral part of tomorrow's decision making systems. Essentially all decision problems can be posed as optimization problems. Being able to solve optimization problems quickly and reliably will transform the way we design and build machines that have to take decisions automatically, which includes anything from a dishwasher to complex air traffic control systems. In the field of computational finance, embotech’s backend software for mathematical optimization, which is 100x faster than state-of-the-art, enables real-time, interactive portfolio optimization on mobile devices.
Biowatch: wrist veins biometric reader
BIOWATCH SA is offering a new authentication solution based on wrist vein recognition and provides an alternative solution to current methods. The goal of BIOWATCH is to develop a wearable that fits on your watch for secure and seamless access to e-banking & m-payment apps. The Swiss start-up gets a lot of interest from major players in the Automotive, Luxury Goods, Smartwatch and Corporate Enterprise Markets. The company has been selected for Fusion, the first Swiss fintech accelerator.
More information about the competition on the UBS website.
More information about the eight Swiss start-ups that had been selected for the regional final in another article.