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VentureClash Announces Winners of $5 Million Global Investment ChallengeToronto-based financial services technology company, Dream Payments takes first-place $1.5 million investment award ROCKY HILL, Conn., Oct. 24, 2016 /CNW/ -- Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut's innovative, growing companies, today announced the winners of VentureClash, a $5 million global investment challenge for early-stage digital health and financial technology (fintech) companies. Of the 11 finalists from eight different countries, VentureClash awarded six companies with investments, mentoring, customer introductions, grants and services to help them grow and succeed. As part of each deal, the winners are required to establish a presence in Connecticut. Awards Dream Payments, a Canada-based fintech cloud powering payments across mobile devices and the Internet of Things in partnership with financial institutions, received the top investment award of $1.5 million. Brent Ho-Young is the CEO of Dream Payments and presented on behalf of the company on October 20. The second-place winner, which received a $1 million investment is Hubbub, a United Kingdom–based company providing digital fundraising solutions for the education and nonprofit sectors. Jonathan May is the CEO of Hubbub and accepted the award on behalf of his team. Four companies received a $500,000 investment award. They included:
The winners along with the five other finalists presented their business ideas in front of a live audience and a panel of judges on Thursday, October 20, at the Yale School of Management. The judges included subject matter and investor experts from athenahealth, Canaan Partners, Oak HC/FT, Kepha Partners, Magellan Health, and Point72 Ventures. The top two investment awards also receive up to $100,000 each in grants for assistance with relocation and other expenses, and each runner-up investment award includes a $50,000 grant. All six winners will also receive $120,000 worth of IBM Cloud Credits, sponsored by IBM. In addition to the company pitches, the VentureClash program also included two panel discussions, which included experts from companies like Yale New Haven Health System, Aetna, Medtronic and Flare Capital that focused on digital health; and experts from The Hartford, Webster Financial Corporation, AXA Strategic Ventures, Synchrony Financial and the Yale School of Management that spoke on trends in financial technology. For more information on qualifications, requirements, guidelines and application, visit www.ventureclash.com. About VentureClash About Connecticut Innovations Inc. Contact: Lauren Carmody Photo - http://photos.prnewswire.com/prnh/20161024/431664 Logo - http://photos.prnewswire.com/prnh/20161024/431663LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ventureclash-announces-winners-of-5-million-global-investment-challenge-300349733.html SOURCE Connecticut Innovations |