StartupTrip. Adventure Russian FinTech in London
Hello, Habr!
Want to share your story
Where and why?
When in June of this year, we (the team EasyFinance.ru system of personal Finance management) won at both sessions FinTech Russia, it became clear that the next stage of development EasyFinance.ru is access to foreign markets. And the most interesting springboard, from the perspective of the FINTECH industry, is Britain, with its financial ties with Asian countries and major international financial centres in London. So we accepted the invitation to participate in StartupBootCamp FinTech London where along with the us have filed more than 400 teams from around the world.
lost in translation or how do we get the English visa
Having received the invitation a month before the event, we immediately appealed to the VAC. Knowing what problems and delays are our fellow citizens getting the right to visit Albion, we went to the VIP expedited-consideration of our application, paying all relevant fees and attach all required documents including an official invitation from the organizers. However, the rapid was only failure. Sanctions? World conspiracy vs domestic Finance? Not at all, just the immigration officer could not understand broad purpose of our visit to England. Re-treatment with the clarifications and explanations on our part was a success, and we received the coveted sticker in the passport.
From the ship to the ball
The flight was designed to immediately catch the beginning of the event, the benefit of the airport was selected adjacent to Rainmaking Loft (where everything happened) and Tower Bridge – London City Airport. In such a crowded and busy schedule were all days of stay in London — meetings, workshops, pitches, brainstorm, and again meetings and pitches. In total, during these few days we have had 30 meetings and presentations, collected 200 contacts of experts in the global FINTECH industry, and only 5 hours a day on sleep, but more importantly, radically changed the idea of the industry, many market hypothesis were confirmed, and fears are dispelled.
If you structure the program contents, the first day was dedicated to building business models and principles of networking. It would seem that more than a hackneyed with many speakers topics began to play a completely new way when the speakers moved on to practical aspects, citing the example of non-obvious strategy of large corporations and turning with foot on the head of the steps their competitors-startups. For example, as a startup in the field of Charter aviation moved to a subscription model of payment for flights and successfully lured away valuable customers from big airlines.
Also very useful was the lecture without notes on building a network of contacts with mentors and investors, and how to turn the exchange of business cards into a source of valuable information and resources for the growth of the company. As, for example, a preliminary pitching on the people in the DM increases the chances of success in negotiations by the DM.
The second day was mostly devoted to demonstration of the product. At the time of travel services was not fully translated into English, and most of the interface was accompanied by captions in Russian. It was pleasing to see that most of the experts immediately and without translation understood the essence of different buttons, widgets and elements of the service. New design EasyFinance like not only the mentors, but the English designers, with whom it was possible to discuss your service/presentation at the event. During this day we showed the solution to 10 times, with an attentive audience every time, the seven new industry professionals working in banks, brokerage and insurance companies, it or consulting.
Special piquancy this gave the presence of each presentation of our direct competitors, which with interest asked how the effectiveness of individual Fitch and promotion strategy of service of a particular target audience. At the same time, acting as mentors and industry experts, competitors were forced to share their experience and insights regarding the market. Already one such meeting was worth the entire trip, but the profits from it were much more. Also very valuable tips were recommendations from representatives adjacent markets and products-compliments. Not feeling direct competition, but at the same time working with the same customers and suppliers, they are willing to share their contacts and acquainted with their partners.
A portion of mentors who have been particularly helpful and interested in EasyFinance, we then invited the Supervisory Board of the company.
Saturday Night Fever Award
While in London, all the days were cloudless hot 33 degrees weather with which the local air-conditioning system completely failed, most of the finalists were in business suits. The finals took place on Saturday, performances of projects were going one after the other in the morning and ended at 16 o'clock, another hour was required for the settlement of all organizational issues. Therefore, the beginning of the announcement of the winners, the participants were very exhausted. But from the first words of the organizers, addressed to companies-winners, all perked up and began happily applaud and congratulate colleagues. All participants were awarded 20 diplomas, one of which went to the team EasyFinance included in StartupBootCamp FinTech TOP20 Teams.
In addition to the logical beginning with the graduation after-party, the evening was marked by a very Frank conversations with mentors and other participants. In confidential conversations, we were told:
• why is it better to be an English company entering the Indian market, or French, marketing of Vietnam;
• what the French like all the French, but when it comes to business, prefer to work with English companies
• in connection with what London called the fifth city in Poland and why the majority of poles in smartphone there games, but half have mobile banks;
• and many more interesting things about the national characteristics of financial markets of Europe and Asia, we have significantly revised their strategy of development and promotion in Russia and abroad.
The rest of the weekend we spent with our new friends, long resident in England, and settled the rights of the owners a tour of the London night.
FinTech London is not only StartupBootCamp
Sunday was the day of the cultural holiday with a visit to the must see places, images which are usually covered with local souvenir shops full of "friends" on Facebook. This trip was a great team building event that allowed a well to consolidate and strengthen communications in the team, so as to use all formal and informal interaction in the solution of real work, financial, organizational and domestic problems that almost not achievable on regular corporate events of this kind.
And Monday we began to develop the local coworking FINTECH accelerators and other incubators that are popular with our brother, startups.
It is worth to highlight the following places:
• Google Campus – incubator coworking area in a cafe. Recommended for all who are just starting their journey in the online business and haven't joined a coterie of young seekers business models and free wifi. Here for pre-registration You can get a membership card drop-in and take a picture with an astronaut.
• Rainmaking Loft is a typical format coworking loft in the heart of London, located close to Tower Bridge and the infamous fortress. One of the key advantages of working here is a huge and constant work on socialization and integration of different startups and freelancers in one community, and this is dedicated to many different and useful activities, ranging from regular presentations in front of colleagues and seminars and joint ending Friday parties, where over a glass of intoxicating drink to share hardships and successes of life for startups and make friends with similar interests. And here we have our own harbour for yachts (in case of IPO apparently).
• Level39 – coworking is a dream for any startups from the FINTECH sphere, located on 39 (as the name implies) floor of a modern skyscraper, surrounded by towers of multinational financial corporations such as JP Morgan, Barclays, Citi, HSBC. Opened this coworking the mayor of London, and local government, speaking about innovations in Finance, often makes reference to this organization as the center of the most advanced Finance. Probably why the halls and corridors of coworking decorated with various images of London, and on multiple monitors, even displays the key indicators of urban life online. However, it did not Левел39 citadel of bureaucracy and propaganda of the current government, on the contrary, the center is developing as a very modern, combining the most advanced financial technology meet regularly with representatives of major financial and high-tech corporations, and the meetings with representatives of the authorities have a real opportunity to lobby for necessary changes for business development.
However, doing business in England one of the most simple and convenient. It is enough to consider the process of opening a firm which is completely online and takes one hour! All questionnaires, applications, and tips on filling them compactly located on the official website of the British government.. It is also possible to apply for trademark registration. It is no coincidence that English law dominates the regulation of the startup industry around the world. But if You plan to personally move to London to work, for example, as a programmer, I advise you to read the very usefulmaterial from Cront.
After talking with colleagues from international startups, we are once again convinced of this, and finding common themes for cooperation, began to work on joint products for the English market.
So, in summary, I would say that London is indeed the capital of global Finance and is now doing everything to secure the title and FINTECH industry, and therefore now, despite the sanctions and other constraints, it's time to start the development of its global FINTECH-startup, and start it in London.
Beyond business
The flight was a transit through the Dutch capital, Amsterdam. This technical point would not have much importance, if not for the tragedy with Boeing MH117. The return flight coincided with the return of the bodies of the dead passengers in the Netherlands, also marred the impressions of the trip and once again made me think about how small the world is and how everything in it is interconnected and fleeting. It is therefore particularly important to have time to implement your plans while the sun is shining bright should head.
PS This is my first post on Habrahabr, so try to be brief. If interested, can write details about the specifics of obtaining a business visa to England, registering a company or getting into local business incubators and startup accelerators.
