Introduction



APEC International FinTech SummitFinal ReportPurpose: For Information Submitted by: ChileAcknowledgementsThe government of Chile, through the SME Division of the Ministry of Economy, Development and Tourism would like to thank speakers, international organization, founders and investor who attended the conference and gave life to it. We would like to specially thank the APEC Secretariat for the continued support delivered, with a particular mention Mr. David Barrientos, Ms. Crystal Chua and Ms. Jundy Mow Wei Choe. This would not have been possible without your help.Contents TOC \o "1-3" \h \z \u 1.Introduction PAGEREF _Toc33029820 \h 12.Background PAGEREF _Toc33029821 \h 13.Body of Report PAGEREF _Toc33029822 \h 14.Conclusions and Future Work PAGEREF _Toc33029823 \h 15.Bibliography PAGEREF _Toc33029824 \h 16.Annexes PAGEREF _Toc33029825 \h 1IntroductionSMEs represent the drivers for innovation, economic growth and job creation in the Asia-Pacific region. However, SMEs and entrepreneurs can only reach their more potential if the conditions for access to financing and financial services are favorable along their whole life cycle. SMEs are at a disadvantage with respect to large companies when accessing financing because of factors such as the size of the company, age and stage of development. SMEs generally face higher interest rates and more stringent debt terms relative to those delivered to large companies. In this sense, FinTech has proven beneficial for democratizing financial services and access to financing by creating new ways to interact with financial service providers; assisting SMEs in accessing financial services that were once unavailable such as digital funding, promptly payment, B2B digital channels, and others; as well as facilitating structural change in financial markets such as improving financial inclusion, improving institutional security and compliance and increasing transparency.The aim of the International FinTech Summit conference was to deliver insight regarding the question “How can public development agencies use FinTech to facilitate access to finance and financial services to SMEs and entrepreneurs?”.BackgroundOn the one hand, SMEs represent the drivers for innovation, economic growth and job creation in the different economies of the Asia-Pacific Region. However, SMEs and entrepreneurs can only reach their maximum potential if the conditions for access to financing and financial services are favorable to both, starting up their businesses and to generate growth.SMEs are often at a disadvantage with respect to large companies when accessing financing. This, mainly due to its lack of information regarding banks, lack of guarantees, high transaction costs and lack of financial skills. The need for financing and limitations vary widely among the business population. In this sense, factors such as the size of the company, age and stage of development have an important relationship with the type of financing that a company can access. SMEs generally face higher interest rates and more stringent debt terms relative to those delivered to large companies. In addition, access to working capital is also a variable that affects growth-oriented companies, mainly for SMEs and startups that seek to invest and expand. In turn, funding sources tend to decrease more rapidly for SMEs than for large companies during economic crises. Additionally, while many SMEs face problems in obtaining bank financing, access to non-bank financing is often even more limited. Most sources of financing beyond direct bank debt are available to only a small part of SMEs, especially in economies where private capital markets are underdeveloped and in which SMEs lack the scale, knowledge and skills to approach alternative sources of financing. While bank financing will remain crucial for the SME sector in all economies, there is a pressing need to develop a more diversified set of options for financing SMEs, in order to reduce their vulnerability to changing conditions of the credit market, strengthen its capital structure and take advantage of growth opportunities and boost long-term investment.On the other hand, technology and digitalization are transforming financial sector mainly because of the raise of financial technology or FinTech, which is defined as innovative applications of digital technology for financial services.Data suggests the FinTech industry is growing at an exponential rate, registering a global investment level that went from ~$1.1b in 2010 to ~$31b in 2017 CITATION KPM18 \l 3082 (KPMG , 2018).In this sense, FinTech has proven to deliver a series of benefits related to democratizing financial services by creating new ways to interact with financial service providers; assisting SMEs in accessing financial services that were once unavailable such as digital funding, promptly payment, B2B digital channels, and others; as well as facilitating structural change in financial markets such as improving financial inclusion, improving institutional security and compliance and increasing transparency. In parallel, APEC represents 40% of world trade and 50% of global GDP and its economies are undergoing transitions driven by the increasing access to internet and spread of technologies towards cashless societies and digital ways for managing finances.Considering the current stage of the FinTech industry and the benefits it brings, the relevance of this project relies on APEC economies being able to deepen and raise awareness on key topics of FinTech industry such as: its impact on SMEs, regulation, public policy and investment. The industry is still developing, and experiences provide an integral window to understand the potential of this industry.Body of ReportThe "APEC International FinTech Summit", a APEC project implemented by the SME Division of the Ministry of Economy, Development and Tourism of Chile, was an event that took place on September 3rd and 4th, 2019, in the context of APEC SME Week 2019, which sought to raise awareness about the importance and the impact of the FinTech industry as a new financing channel for SMEs, in addition to explore the potential connections between public policy and regulation.Through 4 sessions of discussion the conference addressed the following research question:How can public development agencies use FinTech to facilitate access to financing for SMEs?The objective of this question is to develop a framework of knowledge and understanding that allows for recommendations on how to articulate the following actors:Public Development Agencies that support SMEs, in their role as facilitators of access to financing,FinTech companies, mainly startups, as conductors of alternative mechanisms that facilitate access to financing, andMicro, small and medium enterprises, in their need to access to financing.The above is seen from a strategic vision within the framework of APEC, but with a focus on developing recommendations that can be adopted by the local ecosystem.In addition, a Startup Competition segment was contemplated for the evening of September, 4th. This part of the event brought together CEOs and Founders of Startups from Chile, Peru and Mexico, who presented their business models in Pitch format in front of a jury composed by local investors. The event also included the presentation of the "First FinTech study in Chile: Challenges and Opportunities" and the special presentation of Rappi Pay, a company that will become the largest FinTech in Latin America. The event ended with a networking cocktail where the audience, investors and startups were able to interact.The final agenda for both, the Public Policy and Startup Competition segments, was set as following: Table 1. Agenda for Public Policy Discussion Day 1Session of ConversationTimeProgramAccreditation & Welcoming Remarks08:30 - 09:15Arrival of assistants and accreditationsWelcoming remarksMr. Mauricio Gutiérrez, Regional Ministerial Secretary, Ministry of Economy, Development and TourismSession 109:15 - 10:35The State of the Art for FinTech Development: A Look at Global Best PracticesVarun Mittal, Global Emerging Markets FinTech Leader - ASEAN, EY.Law of Payment in 30 Days: Promoting good payment practices in Chile and Latin America.Felipe Commentz, Head, SME Division. Ministry of Economy, Development and Tourism of Chile.Enhancing B2B Relations: How Can Digital Solutions Can Develop And Sustain the Business CultureMario Fernández, CEO, Go Socket.Q&A SessionCoffee BreakSession 211:05 - 12:25The Potential of FinTech for SME Financing.Kris Boschmans, Senior Policy Analyst, Center for Entrepreneurship, SMEs, Regions and Cities, OECD.Technology for Financial Inclusion of SMEs and Entrepreneurs: The Case of MACH.Felipe Quinteros, Ecosystem Product Owner, BCI.Developing the FinTech Industry in Chile: The Case of Startup Chile.Sebastián Díaz, Executive Director, Startup Chile.Q&A SessionClosing Remarks – Group PictureLunchTable 2. Agenda for Public Policy Discussion Day 2Session of ConversationTimeProgramAccreditation & Welcoming Remarks08:30 - 09:05Arrival of assistants and accreditationsWelcoming remarksSession 109:05 - 10:25Overview of Access to Financing for Women Entrepreneurs and Women-led SMEs and the Potential Solutions Provided by FinTech.José Félix Etchegoyen, Senior Operations Officer at International Finance Corporation, World Bank.Women, SMEs and Inclusive Growth: A Key Priority for APEC 2019.María Ignacia Simonetti, Leader of APEC 2019 Priority of Women, SMEs and Inclusive Growth.Financing Overview of Access to Financing for Women Entrepreneurs and Women-led SMEs in Chile.Andrea Catalán, COO, Universidad del Desarrollo.Q&A SessionCoffee BreakSession 210:55 - 12:15Open Data as a New Risk Assessment Mechanism.Gisell Marcano, Big Data Ignite Leader, Equifax.Using Data for Facilitating Access Finance to SMEs and Entrepreneurs.Augusto Ruiz-Tagle, CEO, Destácame.clCrowdfunding as Tools for Financial InclusionJosefa Monge, Director & Board Member, Cumplo.clQ&A SessionClosing Remarks – Group PictureLunch (Included)Table 3. Agenda for Startup Competition SegmentTimeProgram18:30 - 19:00Arrival of assistants and accreditations19:00 – 19:20Characterization of the FinTech Ecosystem in LATAM and Chile: First FinTech study in Chile: Challenges and opportunities, EY.19:20 – 19:40Success Case: The importance of the Last Mile and Opportunities for the Development of Financial Services.Sebastián Ruales, Chief Commercial & Revenue Officer, Rappi.19:40 – 20:45FinTech Startup Competition of the APEC - LATAM Region.Startups: Solven (PE), (PE), Pago Fácil (CL), CFO Remoto (CL).Jury: Angel Morales (CEO, UDD Ventures), Angel Sierra (Executive Director, FinTechile), Andrés Meirovich (Managing Partner, Genesis Partners), Renato Sepúlveda (Chief Investments Officer, Consorcio).20:45 – 21:30Networking Cocktail The goal of each session of discussion is described as the following:Day 1 – Session 1: this session reviewed the topics of the state of the art globally for the development of the FinTech industry; the 30-Day Payment Law in Chile and the importance for good business relationships between companies and for the flow of working capital in SMEs; and case-studies regarding technological solutions to foster a culture of timely payment.Day 1 – Session 2: this session addressed the topics of FinTech as a driver for the financial inclusion of SMEs from a global trends point of view, coupled with public and private cases to develop the FinTech industry. On the one hand, the case of MACH and its potential for financial inclusion was presented and, on the other hand, the case of Startup Chile was presented as a case study of public policy contribution to develop the industry.Day 2 – Session 1: this session sought to make a diagnosis of the access gap to financing and financial services for women entrepreneurs and SMEs led by women, reviewing case studies on how this problem has been addressed in the world. In addition to this, a zoom will be made to the reality of local financing for women and the alternatives to access them and, finally, a review of the priority of Women, SMEs and Inclusive Growth of APEC 2019.Day 2 – Session 2: this session reviewed the trends in the use of open data for credit risk access qualification and alternative technological solutions to facilitate access to financing for SMEs and Entrepreneurs.It is worth to note that the topics addressed in the Public Policy discussion were raised through a quick survey distributed via email to APEC’s CTI, APEC’s, and partners such as World Bank, the OECD, Chile’s FinTech Association - FinTechile in February 2019. For the SMEWG the survey was sent in the second week of March 2019.Conclusions and Future WorkThe conference served to identify good practices on regulation, policy, case studies, use of data, and others, and to generate a valuable round of discussions between speakers and participants following each panel.On the regulatory side, public bodies have been working over the recent years to creates frames of regulation for FinTech activities such as Challenger Banks, Crowdfunding, Data Protection, Initial Coin Offering, Open Banking, and Sandboxes. The latter are probably the most common approach to regulate FinTechs due to its validation-on-practice framework.Regulators have introduced sandboxes mainly for testing solutions and their impact on markets and local regulation. See Table 4.For example, by implementing sandboxes, regulators can:Test new business models and technologies driven by FinTechs focusing on those elements that challenge existing or ambiguous regulations. Example: applications enabled by blockchain, P2P lending risk management, robo-advisory design, security and stability of algo-trading, suitability tests for wealth management platforms, biometric security, etc.Set common costumer safeguards depending on the regulatory intensity aim of the economy. Evidence shows that this could include, for example, limiting the number of users or a ban on testing risky complex products.Make rigorous testing before the actual launching of a FinTech. For example, by this approach, companies are mandated to submit regular status reports to assess risks on an ongoing basis and evaluate impacts brought by different business models; regulators reserve the right to terminate the test when before any violation; regulators may use special exemptions after the final test. Table 4. Case Studies on Sandboxes, Data, APIs and Open BankingEconomyRegulatorArea Regulated/TestedThailandBank of ThailandGeneral FinTechThailandFintech Hub of ThailandGeneral FinTechThailandThe Securities and Exchange ComissionGeneral FinTech, KYCThailandOffice of Insurance CommisionInsureTechAbu DabiDubai International Financial CentreGeneral FinTechUnited KingdomFinancial Conduct AuthorityGeneral FinTechUnited KingdomPayment Services DirectiveOpen BankingSingaporeMonetary Authority of Singapore (MAS)General FinTech, Open BankingHong Kong ChinaHong Kong Monetary Authority (HKMA)General FinTech, Open API, eKYCHong Kong ChinaInsurance Authority (IA)InsurtechHong Kong, ChinaSecurities and Futures Commission (HKSFC)Fintech in the securities sectorOn the policy side, it is worth to note the cases of public bodies exploring technological innovations to foster transparency on the FinTech industry. See Table 5. In this sense, the most emblematic cases are the ones of the regulators using Distributed Ledger Technology DLT innovations such as blockchain to tap on greater transparency.Table 5. Case Studies on Use of DLT InnovationsEconomyPublic BodyPurposeBrazilCentral Bank"Pier", a blockchain platform, aims at facilitating information exchange and data-sharing between public and private institutionsCanada & SingaporeBank of Canada & Monetary Authority of Singapore (MAS)In May 2019, The Bank of Canada and MAS sent each other digital currencies using blockchain technology, marking the first such successful trial between two central banks.South AfricaSouth African Reserv BankConducted a successful blockchain experiment for wholesale payments using the technology.Hong Kong, ChinaHong Kong Monetary Authority (HKMA)In 2017, the HKMA conducted with banks three Proof-of-Concept (PoC) trials, namely trade finance, digital ID management, and mortgage valuation applications. The HKMA then published two DLT whitepapers in November 2016 and October 2017 to provide the details of the PoC trials. The HKMA and the Bank of Thailand conducted in 2019 Project Inthanon-LionRock to study the application of Central Bank Digital Currency to cross-border payments. A DLT-based PoC prototype was developed together with ten participating banks from both places.SingaporeMonetary Authority of Singapore (MAS)Project Ubin is a collaborative project with the industry to explore the use of Blockchain and Distributed Ledger Technology (DLT) for clearing and settlement of payments and securities.On the other hand, there are cases of economies adopting common standards and regulations in order to improve FinTech export services. In this sense, the UK, Singapore and Australia account for the economies with the most number of bilateral agreements with other regulators resulting in mutually beneficial cooperation among stake holders.In addition, FinTech is an industry that to date has plenty of room for growth and which its complete impacts are still unknown. Mexico, India, Brazil, China, United Kingdom, Switzerland, Hong Kong, China and others are possibly the best examples of good ecosystems where FinTechs, regulators, investors and new talents coexist and present still great opportunities for growth.Finally, the International FinTech Summit represents the foundation for an interesting research question: How can public development agencies use FinTech to facilitate access to financing and financial services for SMEs and entrepreneurs?From this question follows the challenge and the need to deepen into the findings that will allow to identify the best global practices and deliver concrete recommendations that generate a real link between public development agencies and financial technologies emerge.BibliographyBIBLIOGRAPHYAPEC. (n.d.). Small Medium Enterprises. Retrieved from . (2015). Progress Report on G20/OECD high level principles on SME Financing. KPMG . (2018). The Pulse of FinTech. RMIT University. (2016). APEC FinTech e-Payment Readiness Index Report. AnnexesSpeakers BiosDay 1 – Session 109:15 - 10:35Varun Mittal, Global Emerging Markets FinTech Leader – ASEANVarun has been the Global Emerging Markets FinTech Leader since 2018. In this role, he has led the FinTech business as well as managed revenue in 130 countries in emerging markets globally comprising over 100 professionals spread all over the world focused on building FinTech, blockchain, payment, digital bank, regulatory policy, national infrastructure and financial inclusion projects.?Equipped with a?keen understanding of the diverse and nuanced ASEAN region, he has also managed revenue planning and business development for 10 markets in the region with over 2,000 professionals working within the financial services industry.Varun joined EY in 2017 as the ASEAN FinTech Leader and he has been a key member of the Asia Pacific FSO practice ever since. With his expertise in FinTech, Varun developed the EY Pathfinder, EY ASEAN Passport and EY Assured programs. He has also led key engagements with financial institutions and central banks across the region, including the likes of MAS and State Bank of Vietnam. Pivotal in go-to-market planning and FinTech sales, Varun has made significant contributions in growing the FSO’s ASEAN accounts. He is the youngest official media spokesperson of EY and has frequently championed EY’s value proposition and thought leadership in renowned media houses. Highly regarded for his effectiveness and personable demeanor by colleagues, clients and authorities alike, Varun is also recognized for his professionalism and dedication to consistently go above and beyond to enhance the FSO brand.Felipe Commentz, Head SME Division, Ministry of Economy, Development and Tourism of ChileFelipe is an executive with more than 25 years of experience in financial advising, strategy, project management in public and private organizations. He also acts as board member of different companies and public agencies. In 2018 Felipe took office as the Head of the SME Division of the Ministry of Economy, Development and Tourism of Chile, where he’s in charge of the design and implementation of public policy aimed at the development of Chile’s SMEs and Entrepreneurs. Previously, Felipe is also an entrepreneur, academic and consultant.He holds a bachelor in Business Management and Master’s in Business Administration degree. Mario Fernández, CEO & Founder, Go SocketMario Fernandez is a computer engineer, and in 2001 founded Signature South Consulting, a leading company providing electronic invoicing solutions in Latin America, with more than 10,000 clients in 12 countries, including Chile, Brazil, Mexico, Colombia, Peru, Argentina, Costa Rica, Uruguay, Ecuador, Guatemala, Paraguay and Panama. Fernandez has been responsible for the strategy of the company as well as its internationalization approach.In 2009, Mario wrote the book "Electronic Invoicing, Tax and Business Intelligent Transformation", which has become a very useful guide for Tax Authorities of several Latin American countries, helping them to understand and implement the best practices used in electronic invoicing by leading countries, such as Chile, Brazil and Mexico.In 2011, Mario also founded Gosocket, an open B2b network based on the exchange of compliant electronic invoices among thousands of businesses throughout Latin America. As CEO of Gosocket, he has led the development process of this network and has overseen the designing of its monetization strategy, integrating third party electronic factoring and payments services, and a Blockchain solution (ARAP) that helps to improve Accounts Receivables and Payables processes of companies, based on that digital exchange.Mario has been speaker in several international colloquiums and events regarding e-invoicing, such as: The International Chamber of Commerce in Geneva, the Exchange-Summit in Europe and US, the colloquium Digital Finance in Africa’s Future in Johannesburg, among many others. He also launched his second book "The Electronic Invoicing and the Business Network", in which he refers to the deep digital transformation that is happening in the B2b space, thanks to the exchange of electronic invoices between companies of all sizes and types, which at the same time is leading to the democratization of financial services for businesses.Day 1 – Session 211:05 - 12:25Kris Boschmans, Senior Policy Analyst, Centre for Entrepreneurship, SMEs, Regions and Cities, OECDKris Boschmans works as a policy analyst for the Centre for Entrepreneurship, Centre for Entrepreneurship, SMEs, Regions and Cities at the OECD. He joined the organisation in 2014 and is responsible for the “Financing SME and Entrepreneurs” project, an annual OECD flagship publication, which gathers and analyses data on SME finance and relevant policies from 48?countries. He also contributed to several OECD reports on SME and Entrepreneurship issues and policies, mostly on topics related small businesses financing. Previously, Kris worked as an expert on SME finance and broader entrepreneurship issues for the Belgian Government and private sector organisations. He holds an MBA from the Catholic University of Leuven, Belgium, and a PhD in applied economics from the University of Antwerp, Belgium.Felipe Quinteros, Ecosystem Product Owner, BCISenior Ecosytem Product Owner with vast experience in banking and financial services, innovation methodologist and enthusiast in the world of REtech and Proptech; Multiple accelerated experiments in conjunction with Ecosystem Startups to work with the bank. Diploma in Business Management and Innovation, Professional Scrum Product Owner and Ex mentor UC Innovation Center.Sebastián Díaz, Executive Director, Startup ChileSebastián began his career at Start-Up Chile, the most important accelerator in Latin America, as the communications and PR manager, being today the Executive Director. His career includes experience working as press officer, community manager, editor and PR. He also has experience working as a journalist and anchor in TV. Before that, he founded Afterbang Chile, a clothing company for skiing and snowboarding, and Domadores TV, a television network for University Finis Terrae.He studied at University Finis Terrae, where he was recognized as the best student of his generation. Currently, he’s a professor at the same university.He has been working with +1000 global startups, helping to scale and grow.Day 2 – Session 109:05 - 10:25José Félix Etchegoyen, Global Specialist & Advisory Services, Financial Institutions Group, World Bank.José has 20 years of experience in international business and emerging markets, focused on unbanked or underserved populations. Currently at IFC, he leads the advisory services, product development and strategy for the Banking on Women business line in Latin America. He also leads mentoring and training activities on best practices in Banking on Women. Prior to joining IFC, he served as Director of Financial Services at PricewaterhouseCoopers Advisory Services in Washington D.C. and Principal Banking Solutions Specialist at SAS Institute in Miami, Florida. He also worked in leading FIs in the USA. and Latin America such as Citibank and Banco Santander. José holds a Master of Business Administration (MBA) in International Business Strategy and Finance from the Kellogg School of Management (Evanston, USA)María Ignacia Simonetti, Leader Priority of Women, SMEs and Inclusive GrowthIgnacia Simonetti is a Fulbright Scholar and Master of Science in Global Affairs from New York University. She is currently the Coordinator for the “Women, SMEs and Inclusive Growth” priority for APEC Chile 2019 as well as the Head of the Gender Department at the Vice Ministry of Trade. In addition, she works as an adjunct professor at the School of Journalism at Universidad Católica de Chile and as the Director of Development at Women Across Frontiers, and online magazine dedicated to furthering gender equality around the globe. She previously served as the Research Coordinator at the Strategic Observatory of the Pacific Alliance and as the International Affairs Coordinator at ComunidadMujer where she led the launch of Chile?s Gender Parity Initiative, promoted by the Inter-American Development Bank and the World Economic Forum. She interned at UN Women's headquarters in?New York and worked as a consultant for Kofi Annan Institute for Conflict Transformation.Andrea Catalán, COO, Universidad del DesarrolloAndrea is an Industrial Civil Engineer from the University of Concepción. She currently serves as COO of Universidad del Desarrollo, Concepción and as Entrepreneurship Director from the same house of studies. In this role she’s in charge of the coordination of entrepreneurship programs offered by the Universidad del Desarrollo for its students, alumni and external. Linkage with the regional ecosystem and with the productive and services sector in the field of entrepreneurship.In addition, Andrea holds a Master’s Degree in Strategic Communication from the Universidad del Pacífico and a Diploma in Communication Management from the Universidad de Concepción.Day 2 – Session 210:55 - 12:15Gisell Marcano, Big Data Ignite Leader, Equifax.Mathematical Engineer, Master in Finance, currently pursuing a Master in Data Science. With more than 5 years of experience in the field of statistical analysis, she has extensive experience in predictive and technical models of Machine Learning and knowledge of the market in different areas: finance, telecommunications, retail, automotive and others. She also has programming skills in R, SAS, SQL, Python and Big Data tools such as Hive, Impala, SparkML.Augusto Ruiz-Tagle, Co-Founder, Destácame.clAugusto is Co-founder of Destácame, the first behavior-based credit score in Latin America that aggregates utility and other alternative data to give access to credit to the unbanked. He has worked in both the financial and real world. First, he structured derivatives to decrease financial risk of companies. Then, he was director of international sales at the biggest Chilean forestry company and worked as management consultant advising companies in several industries in Latin America. He has led different social programs ranging from education to building schools and houses in remote villages in Chile.Augusto holds a BS in Civil Engineering at Universidad Católica in 2007 and a MBA degree from Sloan MIT. He is happily married and father of 2 girls.Josefa Monge, Co-Founder, Director and Board Member, Cumplo ChileLawyer from the Pontifical Catholic University of Chile, with a specialization in Corporate Communication from the School of Communications of the same university. Previously, she worked as a corporate lawyer at the Philippi Study and as a professor of Ethics at the UC School of Communications.Co-founder and director at Cumplo Chile, a collaborative financing platform that facilitates the meeting between SMEs and investors to obtain loans at fair rates, and a member of the board of eClass, a distance education company, which seeks to democratize education in Latin America. Both, Cumplo and eClass, are certified B Companies.In addition, Josefa is President of the Board of Directors of Sistema B Chile, a corporation that brings together and coordinates the Chilean B Companies community.Day 2 – Startup CompetitionSebastián Ruales, Chief Commercial and Revenue Officer, RappiSebastián is Partner and the Chief Commercial and Revenue Officer at Rappi, the first Unicorn from Colombia and the fastest growing tech company in Latin America. Sebastián is also a TED Speaker and holds an MBA from the A.B. Freeman School of Business, Tulane University, USA. Prior to Rappi, Sebastián was Directive Committee Member at L’Oreal CPD Division.Sofía del Sante, Innovation & Ecosystem Senior Consultant, EYSofía Del Sante works at EY Chile as an Innovation & Ecosystem Senior Consultant, where she leads the relation with the FinTech ecosystem and promotes innovation inside financial institutions through collaboration with startups. Before joining EY, Sofía was the Chief Strategy Officer at Start-Up Chile, a public business accelerator program created by the Chilean Government for high-potential entrepreneurs to bootstrap their startups using Chile as a platform to go global. As of today, it is one of the biggest and most diverse accelerators in the world. With a background in communications, public relations and journalism, Sofía has worked as a reporter in the media industry and as a writer in the editorial business. At Start-Up Chile, she built partnerships with different actors of the Chilean and international entrepreneurship ecosystem to attract talented entrepreneurs to Chile and strengthen the entrepreneurial ecosystem in the country. Nowadays, she focuses on improving the performance at large corporations through collaboration with startups. In the past, she led the initiatives “Founders Lab” and “Go Regional”, in which Start-Up Chile teaches about entrepreneurship, promotes innovation in the country and invites world class entrepreneurs to participate in activities and to live in different cities of the country with the mission to foster innovation and boost the local startup community.Invited StartupsCristian Tala, CEO & Founder, Pago FácilCristian is a Chilean entrepreneur who holds a degree in Civil Engineer in Telecommunications and Computer Science, a Master’s degree in Computer Science, and Master’s degree in Business Administration. In addition, Cristian Tala is a university professor, IT entrepreneur and founder of Pago Fácil. He strongly believes that an ecosystem can be created where mutual help and support could take part in order to grow and develop products that can revolutionize the market.Philippe?Besan?on, CEO & Co-Founder, CFO RemotoIndustrial Engineer of the Pontifical Catholic University of Chile, with 10 years of experience in finance, business strategy and corporate governance. Co-Founder of CFOREMOTO, Chilean FinTech that seeks to support the decision-making of companies that cannot count on a finance manager and that connects them with sources of financing in the market. In addition, he’s a Start-Up Chile Mentor and Consultant in different foundations focused in supporting the development of SMEs.Martín Mendoza Mendoza, Serial entrepreneur with more than 10 years of experience developing online businesses. Before starting , he run as CEO of a flower chain in Lima with more than 10 stores and software company about consulting and ERP. He attracted investments of respected funds such as 500startups and Seedstars his venture. have generated more than USD$ 25MM in mortgage volume for his banking partners. It's now operating in Peru, Mexico and Colombia with more than 19 financial institutions added to his marketplace.Facundo Turconi, CEO & Founder, SolvenFacundo holds a Business Administration and Management degree and a MBA from CEMA University, Argentina. He as long experience in the banking sector but currently is a prominent entrepreneur of the Latin American FinTech industry. In 2016 he founded Solven, a Peru-based startup that seeks to connect borrowers with financial institutions in an online marketplace, issuing loans in only 5 minutes, using the most sophisticated technologies,100% online.Startup Competition Facilitator and Jury?ngel Morales, CEO, UDD Ventures (Facilitator)?ngel is a Business Manager and Master in Innovation from the Pontifical Catholic University of Chile, with experience in social innovation through bodies such as Servicio País, América Solidaria Foundation and Techo; in addition, he has experience in innovation and entrepreneurship consulting in organizations such as Inacap’s Business Incubator and Transforme Consulting, in addition to his academic experience as professor of innovation courses at Universidad Santo Tomás and Universidad Mayor the MBA from Universidad Del Desarrollo. He’s the current Executive Director at UDD Ventures, the business accelerator of Universidad del Desarrollo.?ngel Sierra, Executive Director, FinTechileIndustrial Engineer and MBA, with the firm purpose of promoting innovation and financial inclusion in Latin America through technology applied to finance (FinTech). He’s the current Executive Director of FinTechile, the main Chilean association of FinTech companies, which its main goal is to represent and promote the development of the FinTech industry in Chile.Renato Sepúlveda, Chief Investments Officer, ConsorcioRenato Sepúlveda is currently the Chief Investments Officer of Consorcio, Director of the General Funds Administrator Larrain Vial and part-time professor of investments at the School of Engineering at the University of Chile. He arrived at Consorcio in 2005, where he served in multiple roles in the group until 2014, where he takes office of the Investment Management.Renato Sepúlveda is a Civil Electrical Engineer and Master in Applied Economics from the University of Chile, as well as an MBA from The University of Chicago Booth School of Business.Andrés Meirovich, Managing Partner, Genesis Partners Director of the Chilean Association of Venture Capital (ACVC), and Managing Partner of Genesis Ventures. Doctor of Business Administration ? SDA Bocconi, Italy. MBA from MIT, USA. Commercial Engineer and Master in Finance from the Universidad del Desarrollo. He participated in the Executive Program in Entrepreneurial Innovation at Stanford University. Columnist of Diario Financiero since 2013. In 2010 he received the alumni award highlighted by the Universidad del Desarrollo, and the award for young leaders in 2012 granted by Diario Financiero. Former member of the Dean Student Advisory Council of the MIT Sloan School of Management. Andrés has seen more than 400 projects, and has more than 10 years of experience in the Venture Capital industry. Since 2018 he is Professor of the MBA of Adolfo Ibá?ez University.Conference’s PresentationsDue to the length and size, presentations can be found at ................
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