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Monday, March 12, 2018
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KG: Seeing as our snowmobiles are in the repair shop, we’re forced to delay Tech Madness another week. Tech Madness will be on Tuesday the 20th at Game On. Third time’s a charm, right?!

The Big One

A breakdown on the day’s biggest Inno story.

Lucy: Marco Paschina, a Boston University senior who graduated from high school in Italy, knows how different the experience of getting an education is in the U.S. compared to Europe. However, it was the clash between the U.S. education system and its Latin American equivalent that inspired Paschina and fellow co-founders Felipe Garcia de la Ossa and Juan Tomas Leal to start Credyty, a short-term student loans financing platform that aims to promote access to upper education in Colombia.

As confirmed by a recent United Nations report, learning achievement levels remain low by international standards in Latin America and in the Caribbean, where boys massively under participate in secondary and tertiary education.

Like in the U.S., education in Latin American institutions is very expensive. The difference with the U.S. system is the limited access to capital that students get. “In the U.S… anyone can go to a bank and request a loan,” Garcia de la Ossa told me. “He can also apply for financial aid or scholarships. Back in Latin America, it’s really, really hard for students, or pretty much everyone, to get a loan and to get approved by a financial institution.”

Students apply for loans through the company’s proprietary fintech platform and receive confirmation within one calendar day, the company said. Financial institutions provide capital to fund loans at no student-default risk; this risk is assumed by Credyty. To account for defaults, Credyty charges a risk-adjusted placement surcharge. Read more: This BU Startup Wants to Promote Access to Upper Education in Latin America

In The Know

The Inno stories you need to read today.

Making Moves

Inside the people, companies and organizations making moves in Boston.

Lucy: While Boston is still well-positioned in the race to get the new Amazon’s HQ2, BBJ reported that the city (or the Bay State in general) is a likely candidate to land the new Apple campus too. The Cupertino giant “seems likely to choose among northeastern states such as Pennsylvania, Massachusetts and upstate New York; North Carolina and Florida in the southeast; and Midwestern states like Illinois and Wisconsin,” according to a report by Bloomberg and Moody Analytics cited by BBJ.

KG: LearnLux, founded by the sibling duo Rebecca and Michael Liebman, won the PerfectPitch competition at SXSW this weekend. Judges for this competition included the likes of Ashton Kutcher of Sound VenturesMarc Benioff of Salesforce and Matthew McConaughey (Detective Rust Cohle). The Boston fintech startup received $400K in investments – $200K from Sound Ventures and another $200K from Mr. Salesforce himself. Read more: Boston Startup LearnLux Wins Big at 2018 SXSW Festival

Lucy: And another Boston SXSW won the Payment and FinTech category for the 10th Accelerator Pitch Event. is a student debt repayment and refinancing solution. Something we can all get behind!

KG: General Electric is exploring the sale of an electrical engineering company it acquired in 2011, Reuters reported, noting that at the time, energy was GE’s most profitable business. Rebranded GE Power Conversion in 2012, the division saw its profit plunge by 45 percent last year.

New Money

Your daily funding roundup.

KG: Scout Exchange, a recruiting software and marketplace, has raised $100M from TRI Ventures. TRI is John Chuang’s investment firm that manages his fortune from founding Aquent, which is one of the world’s largest creative staffing agencies. Scout uses A.I. and machine learning to match recruiters and jobseekers. “Talent acquisition is more imperative for today’s businesses than ever before,” Chuang said in a prepared statement. “While technology has streamlined many HR processes, corporate recruiting is still more difficult and time consuming than it should be.”

In The Community

The events and happenings to know about tonight and this week.

Lucy: More networking events, because why not? Mass Tech Networking is organizing a March Business Networking & Vendor Showcase Event at WeWork Back Bay from 6:00 to 8:00 p.m. on Wednesday, March 14. You can RSVP here. For more tech events planning, we have you covered until the end of March. Read more: BostInno Approved: March’s Top Tech & Startup Events in Boston

Read This Right Now

Insight and analysis from the community and beyond.

KG: Rob Go, co-founder of NextView Ventures, pulls back the opaque VC curtain a bit and writes a post on How VCs Get Measured“Here’s how investors track VC performance before funds are fully realized. We’ll go through the metrics that matter, how that influences investor behavior, and look at some (potentially surprising) actual performance data.”

Mea Culpa

Because sometimes we make mistakes.

Lucy: One more company to be added to the list of B Corp.-certified companies and entities in Boston. Charlestown-based Boston Organics is also a B Corp. Moreover, Cambridge-based Sundots let me know that they’ve earned a “Pending” B-Corp status, which is no different from a B Corp. certification, but it applies to companies that are less than a year old.


Featured Jobs

Featured startup and tech jobs on BostInno’s new Careers Directory.

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Meet The Authors

Lucia Maffei

Kyle Gross (KG)

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