Criptalia, a fintech in New York: ideas and contacts for the future
Thanks to the GSP wanted by MISE and organized by ICE, Criptalia has taken part in a 3-month program in New York, at ERA, one of the main accelerators of startups in the United States. This opportunity has made it possible for them to take part in a number of workshops and mentorship sessions, as well as attend some events organized by ICE and the Italian Consulate in New York. Diego Dal Cero at the end of this experience, remembers the decisive moments and talks about them with us.
ERA accelerator: what did you like about their approach and what was particularly useful to you?
Their approach is very practical and concrete: we really liked the fast pace, the very direct and constant feedback, and the support of many mentors, including several founders of startups that in this day and age are seen as “unicorns”. ERA is probably the best accelerator on the east coast of the United States, and amongst the leading ones in the world, with a value of over two billion dollars.
Of the numerous ICE / Consulate events, is there is one that has particularly satisfied you and why?
The Italian Trade Agency and ICE have shown us their unconditional support right from the start. Various events were organized during which entrepreneurs from the Italian community in New York, journalists and also potential investors took part. The first was a few days after our arrival, and the last one a week before returning. Our Demo Day. It was very constructive, also because it allowed us to see how we have changed and how our way of presenting ourselves during the acceleration process had improved. The event of the 30th September was the most rewarding because it somewhat represented the presentation of our progress and the end of the process.
You presented Criptalia during an event on Wall Street talking about the differences and points of view of the blockchain market in Europe and the USA. Can you explain your opinion of us?
Every day In New York there are a lot of events, on blockchain and fintech, even more than once a day. We’ve attended a lot of meetups and presentations, and we’ve seen that Europe is in some ways ahead in fintech, even though the US market has huge numbers. Another difference is in the attitude of the regulators. During one of the many presentations, we also had a chat with the SEC’s insiders and were amazed by their mindset which is basically very business-oriented”
Criptalia in the USA: What do you think about business development as a result of this experience? Pros and cons of this experience and suggestions for improvement?
We will certainly open in the USA, in fact, we are already opening the branch. The goal is to be active by the third quarter of 2020 in the state of New York. Right Now we are pushing very hard on the European market, starting with Italy and Spain. The American Direct Lending market for Project Finance we are heading for is ten times as large in volume as the one in the whole of Europe. The difficulties are many but not insurmountable: each country has different characteristics and regulations, and therefore organizational complexities that need to be studied in depth.
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