Global consulting firm Oliver Wyman, in partnership with the leading Brazilian law firm Pinheiro Neto Advogados, joined forces to launch startup competitions in Brazil.
The goal is to support innovative firms to reach their full potential, forming a stronger economic ecosystem in Brazil. In addition to contributing to the development of startups, the opportunity to work with these companies helps Oliver Wyman to leverage its global intellectual capital in new industries.
As part of this initiative, the program FintechNOW Brazil was launched, and two fintechs were awarded with customized strategic projects in 2017.
The competitions are done through evaluation panels with the attendance of partners from Oliver Wyman and Pinheiro Neto Advogados and takes into account factors such as business model, market potential and level of competitive differentation as well as innovation, trajectory and impact.
For more information, please contact Innovation.Brazil@oliverwyman.com
Agenda in 2018
In 2018, we will have a new edition of the FintechNOW, as well as the launch of a competition between civic techs, startups that develop public utility solutions, targeting the population and the government.
iFood: Overall winner
Oliver Wyman worked with iFood in order to define the entry strategy for a range of key financial solutions for restaurants and app users, such as mobile wallets, enabling users to upload debit and credit card data on their cell phones, point-of-sale (POS) terminals for card payments and a range of credit solutions for restaurants. The work assisted iFood in prioritizing each solution, as well as structuring their operations and projecting their returns.
Foxbit: Most disruptive fintech
Oliver Wyman supported Foxbit in exploring potential strategies, in order to keep the company’s position as the cryptoassets market leader in Brazil. The project scope included the analysis of business models in cryptoassets (including transactional services, market infrastructure and payment) for the development of a prioritized high-level strategy, based on Foxbit’s priorities and expected returns. The project was divided into three phases that covered three main dimensions: business strategy, operating model and regulatory framework.
Both winning fintechs presented high potential in their initiatives, with thought-provoking projects aligned with our expertise. In addition to contributing to the development of startups, the opportunity to work with these companies helps us leverage our global intellectual capital in new industries.Michael Wagner, Head of Financial Services in South America, Oliver Wyman
Our challenge is to increasingly be a strategic partner of restaurants, offering the best solutions in the market. The development of the Oliver Wyman project has brought us significant knowledge in the financial market and processes, helping us validate our strategyThomas Barth, Head of Treasury, iFood