TellusLabs went through a competitive application process in which more than 60 applications were winnowed down to 19 fintech companies chosen to exhibit at the largest gathering of cleared derivatives professionals in the world. TellusLabs was then chosen to participate on a panel with four other companies in which each business presented their products and services to a panel of independent judges with expertise in financial markets technology and venture capital investing. The judges unanimously chose TellusLabs for their innovative approach to predicting crop yields through a combination of earth imaging data and machine learning.
“I’m proud to name TellusLabs the FIA Innovator of the Year,” said Walt Lukken, President and CEO of FIA. “They combine decades of satellite imaging data with a machine learning platform that allows them to predict key economic and environmental trends like crop yields. This is fintech at its finest—TellusLabs has identified a real business challenge that has direct relevance to futures and derivatives markets, and created an innovative solution which they implemented through the use of cutting-edge technology. We look forward to watching their growth and development and seeing how they transform our industry's ability to monitor, understand and predict planet-level changes to agricultural markets.”
“Being a part of the FIA Innovators Pavilion this week has been a fantastic experience for us. Winning this Innovator of the Year Award will strengthen our dialogue with the industry and help us realize the tremendous potential of spaceborne insights to drive value for markets," said David Potere, Co-Founder & CEO of TellusLabs.
This year's Innovators Pavilion is sponsored by Amazon Web Services and Nasdaq and supported by several fintech organizations and angel investors groups. This is the third year that FIA has organized this showcase for fintech startups, which is designed to encourage greater innovation in the derivatives industry.
“I’d like to thank Matt Haraburda of XR Trading for chairing the selection committee,” Lukken said. “Thanks to the hard work done by Matt, his committee, and our panel of judges, we have found an exceptional group of fintech startups driving progress in our industry.”