Fintech and Insurtech to United States of America
Eligible businesses can apply for free support to export fintech and insurtech products and services to the USA. Applications have closed.
August 2022 to November 2022
Choose one tradeshow:
- ITC Vegas 2022, Las Vegas, 20 to 22 September 2022
- Money 20/20 USA, Las Vegas, 23 to 26 October 2022
Why this market
The USA has the most fintech unicorns (that is, companies that have a valuation of US$1 billion without being listed on the stock market) globally. The growth of fintech unicorns in the North America region is driven by extensive funding for the sector. Compared to Asia and Europe, the number of US venture capital deals in 2021 continued to skyrocket.
US regulatory authorities are ‘pro-fintech innovation’ with regulatory sandboxes and pilot programs at the centre of financial services growth.
According to Fortune, 88% of US consumers used fintech in 2021, compared with only 58% in the 2020. This growing demand is the perfect business environment for fintechs to flourish in the USA.
- Welcome session
- Setup (business registration, tax and structure)
- Talent and recruitment (how and when to recruit talent, who to hire and how to scale)
- Investing in the US (preparation, representation and legal)
- Pitch coaching workshop
- 1:1 specialised training for pitching for business or investment
Pre departure briefing (one tradeshow only)
- ITC Vegas 2022 (week commencing 5 September 2022)
- Money 20/20 USA (week commencing 3 October 2022)
Business matching (one tradeshow only)
- ITC Vegas 2022 (half day session with networking and pitching opportunities with key insurance industry players)
- Money 20/20 USA (network with potential clients and partners and engage in business matching opportunities at an event hosted by Investment NSW)
- A ticket for one delegate to attend either ITC Vegas 2022 or Money 20/20 USA
Ongoing advice and follow up
- Ongoing support provided by a dedicated NSW Government Export Adviser.
Note: The curriculum is subject to change.
Participation requirements and success factors
Eligibility for the overall Program
- Have headquarters in NSW
- Have a valid Australian Business Number (ABN) registered for NSW
- Be export-capable and export-ready
- Have an employee number between 3 and 199 full-time equivalent (FTE) employees
- The product or service must be produced primarily in NSW
- The product or service is achieving local sales already
- Have a website featuring the product or service and export catalogue
- Be prepared to adapt the product or service for the new market
- Be flexible regarding market-entry method
- Have resources to support marketing and development for a new market
- Be willing to travel to the selected market (where and when travel is permitted) and/or to Sydney for events, and must cover own travel expenses
Note this program is designed for NSW businesses who produce and own their own brand. This program is not for aggregators, traders, or businesses who sell services to exporters.
Additional eligibility requirements for this stream
- Funding or generating revenue to support US market expansion
- Clear pathway to profitability or already a profitable business
- Customers and partners in the US identified and/or some market traction
The ideal participant
- Unique and innovative fintech or insurtech product
- Compelling proposition for the US market
- Have established a US product-market fit
- May already have a US employee or US team in place
- May already have US customers or partners
- Commitment to scale to the US within the next 12 months
- Ideal product categories:
- Wealth tech
- Capital markets
- Back and middle offices
- Blockchain financial applications
- Data analytics for financial services
Businesses not eligible for this stream
- No customers and/or not generating revenue
- Consulting business to technology rather than a technology business.
- Previous Going Global Export Program participants to United States of America
Applications opened on 7 July 2022 and closed on 28 July 2022.