Winning in Wales – Finboot Takes Lion’s Share of Technology Connected Challenge Fund Wins

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The premiere of Technology Connected Challenge Showreel,  showed Welsh Tech Firm, Finboot, winning four out of the eight challenge categories in the first year and one out of six in the second. 

The showreel of the first two years of challenges featured nine categories – of which Finboot won four.  The Technology Connected Challenge involved challengers pairing up with solution providers. The two partners created a detailed plan as to how they were going to implement technology solutions to streamline their processes. The winning categories received funding provided by the Welsh Government.

In the first year of the pilot projects Finboot succeeded in winning four out of the eight categories. They worked on projects with Amey Ltd; utilising blockchain to create efficient railway access planning. With TrakCel, the healthcare company, they developed their database, providing increased immutability to their data. Finboot worked with Cardiff neighbour Delio to create a digital finance passport. The final project Finboot won funding for was with Amber,  to accurately trace the origins of the renewable energy and charge their energy clients to access this information for their ESG regulations.

Gethin Davies, Business Development Manager, Finboot, says:

¨What an experience to be involved in such a diverse and interesting initiative from Technology Connected, through the Welsh Government. We were given the chance to promote the power of blockchain as an underlying technology, whist also showing the flexibility of our solution across various sectors.

Being successful with 4 projects was a fantastic achievement for our team and testament to what we’ve been able to develop with our MARCO Track & Trace solution. We’re really excited about what’s to come!¨

The purpose of the Challenge Funds was to promote the power of technology and blockchain in particular and showcase Cardiff’s growing tech hub.

Nish Kotecha, Finboot’s Executive Chair, says:

“Winning the four out of the eight categories showed the calibre of the team’s thinking and the adaptability of its digital traceability solution, MARCO Track & Trace.

“These wins also highlighted how MARCO can deliver results and a return on investment.

“Finally, this success has also helped position Finboot as a thought leader in the digital space and open doors to opinion formers and decision makers.”

At the start of this year, Nish Kotecha, briefed Stephen Kinnock MP, Labour, Aberavon. The briefing focused on how blockchain and help capital intensive industries like steel, cement, and chemicals to accelerate their journey to net-zero.  In the latter half of 2023, Finboot also had a series of meetings in the UK Parliament to discuss, both national and international, digital legislation and regulations with a number of Parliamentarians including Chris Evans MP, Lord McNicol of West Kilbride, Rt Hon Kevan Jones MP, Chi Onwurah MP, Catherine West MP and  Tanmanjeet Singh Dhesi MP.

This thought leadership culminated in Finboot CEO and Co-Founder, Juan Miguel Perez, being invited, by its client, SABIC, to speak at the Climate COP in Dubai in November / December 2023, on circularity and how you track and measure this.  Juan made the point that Digital product passports have a play a big role. In order to repurpose and reinsert critical raw materials we need to know about product provenance and product composition – and this is where blockchain comes in.

Finboot’s approach and solution was also recognised in Q4 of 2023 when it won the coveted Smart Solution Award as part of the 2023 Supply Chain Management Awards, sponsored by PwC Germany; LogistikHeute and Strategy&.

When receiving the award in Frankfurt Alvaro Llobet, Head of Product, Finboot said:

“To be awarded this prestigious award is a huge vote of confidence in Finboot’s thinking and the development our no-code / low-code blockchain platform, MARCO.”

Finboot’s blockchain platform MARCO improves management of value chains and drives forward digitalisation, sustainability and ESG agendas. MARCO connects blockchain technologies securely under one roof, turning data into trusted digital assets and accelerating the road towards interoperability.

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