To promote innovation and entrepreneurship in the derivatives industry, FIA has created a special program at its annual Futures and Options Expo in Chicago to highlight the latest advances in financial technology.
The Innovators Pavilion is FIA’s annual showcase for fintech startups that are offering forward-thinking solutions for the global derivatives markets. The showcase provides free exhibition space at FIA’s annual Futures and Options Expo, the cleared derivatives industry’s most widely attended event. Expo provides these startups with an unparalleled opportunity to connect with banks, brokers, trading firms, exchanges and other participants in the global derivatives markets.
Each year an independent committee of industry experts chosen from venture capital companies and FIA member firms review applications from eligible startups and select the companies that offer the most innovative and relevant products and solutions. After the first round is completed, the committee then selects the five most promising startups to participate in the FIA’s ‘Meet the Innovators’ pitch contest and compete for the FIA Innovator of the Year award.
The Innovators Pavilion is a core element of FIA’s commitment to promoting innovation in the global derivatives markets. Since 2015, more than 90 startups have participated in the Pavilion. By providing this platform for fintech startups to interact with the leading firms in the industry, FIA aims to accelerate the adoption of new technologies, the drive for greater operational efficiency, and the development of new products and services.
The 2020 application process for the Innovators Pavilion will start in late spring.
Twenty fintech startups were featured in the Innovators Pavilion at Expo 2019. Five of these firms participated in the Meet the Innovators pitch competition. The judges then selected data science startup Hivemind as the FIA Innovator of the Year. In addition to the title, Hivemind receives more than $20,000 in cash and other resources from FIA.
Fifteen fintech startups were featured in the Innovators Pavilion at Expo 2018. Five of these firms participated in the Meet the Innovators pitch competition. The judges then selected FreightWaves as the FIA Innovator of the Year. In addition to the title, Freightwaves receives more than $20,000 in cash and other resources from FIA.
Nineteen fintech startups were featured in the Innovators Pavilion at Expo 2017. Selected companies displayed their products and services in a TechPod on the Expo show floor. TellusLabs won the “Meet the Innovators” competition during Expo 2017, receiving more than $20,000 in cash and other resources.
The 18 companies chosen for the Expo 2016 Innovators Pavilion were selected by a committee of industry experts comprised of executives from venture capital firms that focus on fintech as well as executives from FIA member firms with experience in evaluating technology. The featured companies were showcased at the 32nd Annual FIA Futures and Options Expo. Five of the companies were selected for a pitch competition before a panel of judges at the Expo, and Money.Net was chosen for a prize worth more than $20,000 in cash and other resources.
The 20 companies selected as FIA Innovators for 2015 typify a wave of financial technology innovation. Some draw on the science of artificial intelligence to improve trade processing, automate trading strategies, or identify rogue traders. Some are developing new ways for buyers and sellers to interact. Others apply big data solutions to help brokers and trading firms manage data more efficiently. And others borrow concepts from the consumer technology world to provide new tools for traders and IT professionals.