The event, held this year on Sept 3 and 4 in Singapore, focused on technology-driven approaches to trade, with companies presenting ideas that centred around blockchain technology, artificial intelligence and machine learning.
It has become a cornerstone event for the intersection of trade finance, supply chain and technology innovation.
Organised by GTR Ventures, this event is part of a broader ecosystem aiming to revolutionise global trade through innovative fintech solutions and digital transformation.
This year’s event brought together a broad spectrum of industry leaders, including startups, investors, corporates and government bodies, all eager to explore the future of trade finance and supply chain management.
Focus of GTR Tradetech Showcase 2024
The Tradetech Showcase has always focused on highlighting early-stage startups that are transforming the trade finance and supply chain sectors.
This year was no different, with myriad companies from various parts of the world presenting their innovative solutions. Participants such as eexpand, BorderDollar, LogChain, Havona Technology showcased their ideas on optimising trade finance, managing risks and enhancing supply chain resilience through digital platforms.
A key feature of the event was the focus on technology-driven approaches to trade, with companies presenting ideas that centred around blockchain technology, artificial intelligence and machine learning. For instance, solutions that leverage blockchain were highlighted for their ability to provide secure, transparent and efficient processes in global trade.
These technologies help streamline documentation, mitigate risks such as fraud and improve the overall efficiency of trade transactions.
Victor Chua, managing partner of Vynn Capital, a judge at the GTR Tradetech Showcase 2024 and a fellow Malaysian echoed this, saying:
“The event was a great way for the industry to get together to exchange ideas and experience. It was also refreshing to see more emphasis on technology, despite the perception that the global trading industry is relatively conservative and traditional.
“Overall, we are witnessing the start of an era where entrepreneurs and founders with great execution capability and great vision have a chance to differentiate themselves.”
Another critical theme this year was the emphasis on sustainability and ESG (environmental, social, governance) integration within trade finance solutions. With increasing global regulatory pressure and the need for more transparent operations, ESG compliance has become a priority for many businesses.
Companies participating in the event demonstrated innovative ways of embedding sustainability into their operations, ensuring that trade and supply chains are more environmentally and socially responsible.
Startups and innovation
The startups that presented at the showcase spanned across a variety of verticals in trade finance. Many focused on solving key challenges such as payment financing, supply chain transparency and digitalisation of trade documents.
For instance, LogChain introduced a blockchain-powered platform that aims to digitise traditional trade documentation, enhancing security and reducing inefficiencies. Their solution provides real-time data across the supply chain, offering a single source of truth that can be accessed by all stakeholders involved in a transaction.
Similarly, BorderDollar offers an innovative embedded financing solution for cross-border trade, aimed primarily at logistics companies. It enables these companies to provide their clients with access to working capital without relying on their own balance sheets.
By partnering with BorderDollar, logistics providers can help their clients secure the necessary funds to support trade operations, streamlining the financing process and reducing administrative burden. This solution is designed to increase liquidity, enhance cash flow, and enable more seamless trade across borders by removing the traditional financing complexities and risks.
Havona Technology presented a platform geared toward improving supply chain transparency and compliance through the use of AI and predictive analytics. By enabling real-time tracking of goods and automating compliance with regulatory requirements, they aim to reduce delays and ensure that goods move seamlessly through customs, ports and borders.
Meanwhile eexpand highlighted their role as a global provider of AI-powered trade tech solutions that enhance international trade operations. They offer a variety of tools, including their Trade Intelligence platform, which compiles real-time import-export data, business intelligence and compliance information, allowing businesses to streamline cross-border trade processes.
Competitive element
The Tradetech Showcase is not just a display of innovations but also a competition. Each year, startups pitch their business models to a panel of industry experts, which this year included leaders from global banks, venture capital firms, and trade organisations. These judges evaluate each startup based on its potential to disrupt the traditional trade finance landscape, scalability and ability to solve real-world problems.
The winner of the 2024 Tradetech Showcase will receive not only recognition but also potential investment opportunities from GTR Ventures, an organisation committed to scaling up promising technologies within the trade finance ecosystem.
GTR Ventures, with its expertise and global connections, offers a unique venture-building approach that includes both capital and strategic advisory. Past winners of the Tradetech Showcase have gone on to secure additional funding and grow their operations, validating the event’s role as a launching pad for industry-changing innovations.
Networking and collaboration
A significant aspect of the Tradetech Showcase is the opportunity for networking and collaboration. This year, the event was attended by a diverse mix of industry professionals, ranging from representatives of multinational corporations and government agencies to financial institutions and venture capitalists.
The presence of key players like Citibank, Standard Chartered Bank, Allianz, GE, DBS and Visa provided participants with an unparalleled opportunity to engage in high-level discussions and foster meaningful collaborations.
The event’s networking opportunities are often described as one of the key reasons why industry professionals from all over the world make it a point to attend. Elisabeth Spry, Head of Marketing & Strategic Partnerships at Global Trade Review (GTR), emphasised that the event offers a “cornerstone for industry dialogue and innovation,” where participants can discuss pressing global trade issues, ranging from regulatory changes to digital transformation and sustainability.
The collaboration between GTR Ventures and Singapore’s government and trade bodies underlines the city-state’s role as a hub for global trade innovation. Singapore’s strategic location and forward-thinking policies make it a fertile ground for such events, attracting participants from around the globe.
Impact on global trade
The Tradetech Showcase 2024 underscored the growing importance of digital transformation in trade finance. In a world that is increasingly interconnected, the ability to leverage technology to reduce risks, cut costs and increase efficiency is becoming critical.
The solutions presented at the event demonstrated that the future of trade finance lies in digital platforms that can adapt to the evolving needs of global trade, such as mitigating the impacts of geopolitical instability and regulatory shifts.
In addition, the discussions around supply chain resilience were particularly relevant in light of recent global disruptions caused by the Covid-19 pandemic and geopolitical tensions. The innovative solutions showcased at the event aimed to address these challenges by creating more robust, transparent, and secure supply chains.
The GTR Tradetech Showcase 2024 has once again proven its importance as a key event for the future of trade finance. By bringing together cutting-edge innovators and industry leaders, it continues to push the boundaries of what is possible in the world of trade. With its focus on collaboration, innovation, and the future, the event will likely play a crucial role in shaping global trade for years to come.