Sunday, 3 March 2013

Flubit beats out hundreds to triumph in the London Web Summit Startup

Flubit beats out hundreds to triumph in the London Web Summit Startup Contest 2013 

The London Web Summit Startup Contest 2013 was one of the highlights of a packed day at The Brewery. Over 100 applicants were screened in a qualifying round by a panel of esteemed judges. They were whittled down to 23 finalists who pitched live at the event with 12 judges (Esther Dyson of Edventure, David Tisch of Box Group) scoring and providing feedback. They chose the top four who then took to the Main Stage in front of 1,000 attendees to fight it out for the final prize.

After an intense set of final presentations, Old Street based Flubit were declared the winners. Flubit co-founder and CEO Bertie Stephens said“from the very beginning we had nine people who risked everything and now we have 35 people who are risking a lot, and thanks to the Web Summit we’ve kick started our journey“

Flubit follow in the footstephs of SmartThings who won the previous startup competition in Dublin and Seedrs who won the competition at the London Web Summit last year. Both have gone on to raise over $2m. Flubit win a generous bundle of services from Microsoft, Hiscox Insurance, iSeed and 99 Designs. London Web Summit co-organiser Paddy Cosgrave says: "The contest shows the sheer quality of innovation and inspiration among European startups today and in London in particular. It's awesome to see so many great pitches and passionate entrepreneurs.

The four finalists were:

Trustev which provides real-time online identity verification using a proprietary social fingerprinting technology to combat e-commerce fraud. With just a few lines of code, Trustev adds a new social verification layers to the checkout process which pre-qualifies customers by analysing social data from sources including Facebook, Twitter and LinkedIn.

Flubit's discount platform which promises users a discount on anything, sty anytime. It aims to create lower prices for users that don't exist elsewhere while keeping margins optimised and attractive for merchants. It offers a conversion rate of 30%, ten times higher than the eCommerce average and says its strength is in not being social and focusing on the individual consumer.

Grand Cru is a game developer targeting the iOS tablet gaming. Its first game, The Supernauts, launches in Q2 2013 and is sandbox world building game influenced by Minecraft and featuring multi-player support. The company has 3 more games in production for 2013. It was founded in 2011 and has already raised $2 million.

Kreditech is an online big data scoring technology enabling faster, better, more sustainable credit decisions. It uses data and algorithms to predict how creditworthy a customer is in real-time based on 8,000 data points. It operates business-to-consumer micro-loan platforms across the globe and builds business-to-business real-time scoring models for banks, lenders and deb collectors.

[xxxx's] prize package includes:

· nomination for the Windows Azure $60k Offer which includes $60,000 worth of Windows Azure over two years – free for the first year and 50% off the second year. Subject to BizSpark eligibility, this offer helps cover a startup's cloud computing costs. Windows Azure is a simple, reliable and powerful cloud computing platform for hosting applications and creating web applications and services.

· a Contractual Review Service from Hiscox. This will take the form of a high level review of their contracts with clients and contracts will be reviewed against criteria sets to identify key risks.

· design services for logo/t-shirt printing from 99 Designs

· £5000 in either cash or services, discretionary to iSeed. Services will be in the shape of investment, mentorship, legal advice or training.


The London Web Summit Startup 2013 competition has been made possible by our partners Microsoft and Hiscox.