Atlanta, GA, June 16, 2017 --(PR.com
)-- Out of the 100 applications submitted, Trust Stamp was named as one of only 28 companies from metro Atlanta were selected as semi-finalists. Each will receive a reimbursement grant of up to $5,000 to apply toward expenses related to building the framework of the export scope and mobility.
Andrew Gowasack, CEO & Co-Founder of Trust Stamp said: “We have major opportunities in global markets, as an example, we have partnered with a professional body in the UK to co-develop an automated Know Your Client / Anti-Money Laundering solution for their members which uses both our facial biometric tools and proprietary document OCR. The multi-layer, risk-based approach speeds the process for both institutions and customers and provides audit trails, compliance reports and fuzzy logic to identify complex transactions and potential non-compliance. This generous grant from the Atlanta MEC Export Challenge will be a boon to our company as we grow this first international partnership.”
Trust Stamp will have an opportunity to win additional prize money early next year. Each semi-finalist is expected to utilize the grant funds during the second half of 2017, and later demonstrate export success in order to be invited back for the second round of competition at Pitch Day – a Shark Tank-style pitch session before a panel of judges. At Pitch Day, companies will present their exportable product or service, their export success with the initial grant, and a business plan illustrating how they will use additional grant funds to increase exports. The top three companies will receive $20,000 (first place), $10,000 (second place), and $5,000 (third place).
The Atlanta MEC will distribute a total of $200,000 over the course of the competition. This competition is one of the major components of the Atlanta Metro Export Plan (MEP), an initiative launched back in June 2015 to stimulate economic growth in the region and create quality jobs through exports. The grants competition aims to encourage Atlanta-based companies to export and drive business growth by increasing international sales of local products and services.
The program was created through a grant from JPMorgan Chase as part of the firm’s ongoing work to promote global competitiveness in metros around the country. This year they are joined by UPS, contributing an additional $25,000, and Partnership Gwinnett, contributing $5,000.
“Companies with global perspectives are more likely to create new jobs and tend to be more resilient and innovative as they respond to global market demand,” said David Balos, head of Chase Middle Market Banking. “We applaud the latest round of winners and believe these export efforts will lead to more job creation and growth for our local economy in Metro Atlanta.”
“We congratulate the first round winners for their innovation and focus on global growth. UPS is honored to be a part of this collaborative effort to encourage metro Atlanta companies to explore and pursue export opportunities,” said Bill Seward, U.S. International President at UPS.
The Atlanta MEP is being implemented by several organizations, including the Metro Atlanta Chamber, the Georgia Department of Economic Development, the City of Atlanta and Partnership Gwinnett working in partnership with several other regional and local economic development agencies. The MEP is also the first phase of Atlanta’s participation in the Global Cities Initiative (“GCI”), a joint project of the Brookings Institution and JPMorgan Chase that aims to help leaders in U.S. metropolitan areas reorient their economies toward greater engagement in world markets.
About Trust Stamp
Atlanta Tech Village based Trust Stamp provides enterprises and consumers with identity and trust as a service to empower them to transact business safely and more efficiently using cutting edge facial biometric solutions to create a secure digital identity that can optionally be stored as a biometric hash. The identity can be augmented by proprietary data sources, including public records and social media data mining to attach trust or preference characteristics relevant to the relationship and interaction.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
UPS is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the web at ups.com and its corporate blog can be found at longitudes.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS or follow @UPS_News.