The American news channel CNBC has for the first time published its “Upstart 25Among the 25 selected startups, the only German company is the Munich-based FinTech Scalable Capital.
The Upstart 25 lists international tech startups that can sustainably change their industries. Scalable Capital founder and managing director Erik Podzuweit says:
"We are delighted that CNBC has selected us for this exclusive group. With its selection, CNBC honors technology-driven concepts that create real added value for its clients. We give private investors access to wealth management that was previously only available to the very wealthy. This resonates with many frustrated private investors. After 14 months, we manage over €160 million, making us the fastest-growing digital wealth manager in Europe."
Committee compiles list
An expert panel of 39 US-based academics and analysts selected the 25 listed companies from 500 nominees. According to CNBC, particular attention was paid to diversity in the selection process: Ten of the 25 companies have female founders, and startups from four other countries outside the US (Germany, Israel, Canada, and Kenya) were also included. In addition to California and New York, six other US states outside the top startup hubs are represented.
