Sydney’s fintech scene boosted by new talent

24 February 2016

Finterns at their graduation ceremony

Young university students who have the potential to be the successful fintech entrepreneurs of tomorrow have completed a NSW Government-supported internship at one of 13 startup companies.

On February 23, Minister for Industry, Resources and Energy Anthony Roberts attended the graduation ceremony for the interns – officially known as finterns – who spent their study summer break at the Stone & Chalk fintech hub.

There were an incredible 300 applications from students to take part in the project and unfortunately not all students could be accepted as finterns.

Eventually, 20 students learned invaluable insights into being a tech entrepreneur at one of 13 startup companies. At the graduation ceremony, the finterns gave a marketing pitch for the startups in which they were embedded. While working for the startups, the finterns assisted with tasks including marketing, website content and project planning.

The NSW Government is one of the funding partners of the Fintern Fever project, which has been a collaborative project co-ordinated by the Committee for Sydney’s Financial Services Knowledge Hub with Stone & Chalk and a range of other industry partners.

Mr Roberts said, “Congratulations to Stone & Chalk for hosting these summer internships which have provided young people with a unique opportunity to experience firsthand the dynamics involved in creating a successful startup and insights into the career pathways in the entrepreneurship space."

“Fintech is increasingly important to our financial services sector. By encouraging and providing opportunities for university students, like today’s graduates, we will ensure Sydney has the talent pool to fill the opportunities in this growing sector now and into the future.”

About the Sydney fintech scene

The Global Fintech Innovators report released last December showed Sydney had more top 100 fintech companies than any other city in Asia.

NSW is Australia's undisputed leader in financial services with almost 45 per cent of financial and insurance services in NSW. The sector contributes $64 billion to the State’s economy and employs around 177,000 people.