28 June 2020

Shaping FinTech: Entrepreneurship webinar - what we learned

Written By FinTech Alliance in FinTech

Shaping FinTech: Entrepreneurship webinar - what we learned

This week’s Shaping FinTech webinar looked at the topic of entrepreneurship. Chaired Stefan Haase, Tech and Innovation Lead at Whitecap Consulting, the panel included DirectID CEO and Co-Founder James Varga, Anthemis Associate Sophie Winwood, and Meeco CEO and Founder, Katryna Dow.

The panel had a lively discussion about the challenges of being a FinTech entrepreneur, the future of work, and why now might be the time to take the plunge.

Scroll down for the full video, or take a look at some of the things we learned…  

Covid will change what it means to be an entrepreneur

The global lockdown has given us the chance to redesign what the workplace looks like across the world, and FinTech entrepreneurs have already had to get used to managing their team and conducting business remotely. This more flexible way of working could mean different talent can be employed – perhaps from further afield or those who require a more flexible working day.

It will also perhaps make the location of a business less important. FinTech entrepreneurs in the UK, for instance, may find setting up in London is no longer a necessity, which means they can explore more cost-effective solutions and look at the talent pools different cities have to offer. In order to make this work however, the right infrastructure needs to be in place that’s secure and compliant – this is something many entrepreneurs will have to shift their focus onto as they leave “emergency” mode and begin to rebuild.

FinTech still has a long way to go in supporting female entrepreneurs

Even though FinTech is sometimes seen as a more modern, innovative industry than traditional financial services, the statistics are still dire when it comes to gender equality. Only 2% of VC funding goes to all female teams of founders, and when there is one woman and one man on the founding team this only increases to 17%. The percentage is even smaller when it comes to other kinds of diversity, too. This is partly due to a higher number of men venture capitalists than women, and the problem that investment is still often based around who you know.

So times are still tough for women in the industry, but the tide is turning and there are some great resources and programmes available for female entrepreneurs, such as Anthemis’ female innovators lab.

Entrepreneurship can be a lonely path for all genders, so it’s important to find where you can get support and build up your network. However, if things are easy there is no necessity for innovation. The idea of wanting to bring something into the world and the challenges that go with it impact both genders. Thankfully, more and more young people are coming into the industry who have been educated with a different attitude to the way roles are defined in the workforce – but it’s still sometimes necessary for a female CEO to let a male engineer do the talking…

 

 

Up Next ...
04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

04 November 2024

Barclays acquires Tesco Bank

Barclays Bank UK PLC has completed the acquisition of Tesco ...

04 November 2024

fundcraft Increases Series A to €11 Million Demonstrating Strong Product-Market Fit

fundcraft has increased its Series A funding to €11 million, ...

01 November 2024

Mollie and Hyvä announce strategic partnership, launching Hyvä Commerce

Mollie, a leading financial service provider, has partnered with Hyvä, ...

More in FinTech

Finance apps are in ‘need of improvement’, says a quarter of Brits

04 November 2024

A recent survey by UK mobile specialists Apadmi reveals that ...

Barclays acquires Tesco Bank

04 November 2024

Barclays Bank UK PLC has completed the acquisition of Tesco ...

fundcraft Increases Series A to €11 Million Demonstrating Strong Product-Market Fit

04 November 2024

fundcraft has increased its Series A funding to €11 million, ...

Mollie and Hyvä announce strategic partnership, launching Hyvä Commerce

01 November 2024

Mollie, a leading financial service provider, has partnered with Hyvä, ...

White Papers FinTech

Open Finance in Review: Looking back at 2023

28 November 2023

In this insightful report, OzoneAPI delve into the pivotal developments that have shaped the landsca...

White Papers FinTech

Fintech 2030: The Industry View

02 October 2023

Key findings from the report:Embedded finance is expected to dominate the industry in 10 yearsThere...

White Papers FinTech

Pulse of Fintech H2 2022 report

27 July 2023

UK FinTech investment falls 56% to £14.42bn in 2022After an incredibly strong 2021, with total FinTe...

White Papers FinTech

The Rise and Impact of Fintech in Latin America

29 June 2023

Fintech also provides tools to help manage these risks. Financial authorities and their supervisees...

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

04 December 2024 - 05 December 2024

12:00 AM - 12:00 AM

ExCel London, Western Gateway, Royal Victoria Dock, London, London, E16 1XL

Free
Finnovate Europe

Finnovate Europe

25 February 2025

12:00 AM - 12:00 AM

InterContinental London - The O2, 1 Waterview Drive, London, Greenwich, SE10 0TW

£1,699.00