Q&A with Magdalena Tuta, Program Success Lead at F10

In the final of our Q+A blogs in our Insurtech Accelerator Program series, we speak to Magdalena Tuta, Program Success Lead at F10 in Switzerland.

Q1 - Tell us more about F10 and the work you do 

F10 is an innovation ecosystem and early-stage investor creating the future of finance and insurance. We believe that fostering innovation and supporting start-ups is the key to transforming the financial industry. At our core F10 is providing start-up programs, such as our flagship incubators where we also invest, as well as our open innovation programs, where we bring together start-ups and corporates to collaborate. 

I am Program Lead for F10. This means I design, execute and manage the overall program. I work closely with the teams and program partner, and my role sits at the intersection of creativity and structure while encouraging and nourishing collaboration.

 Q2 – How did the partnership with the Isle of Man come into being? 

The partnership began through Simon Pickering, Head of Insurance and Pensions at Isle of Man Department for Enterprise, who explained his aim to bring innovation to the Island and how through mutual connections he learned about F10. It was a perfect match for us due to our expertise, outreach and vision.

 Q3 – How have you found the program thus far? 

I am thrilled with the progress we have made during the program. It’s great to hear not only about collaborations between the teams and the corporate partners but also synergies and collaborations among the teams themselves. Having incredibly passionate individuals both from the corporate partners and the teams has been fantastic. One of our aims is to continuously support the teams in their collaboration with the corporate partners, helping both of these parties find the sweet spot in an effective manner. I am happy to see these ongoing conversations, and overall I believe the program has been a success. 

 Q4 – How has the program differed from prior accelerator programs you have run? 

The program is unique as the content is tailored to the needs of the Isle of Man Department for Enterprise, the corporate partners and the seven start-ups. Additionally, we aimed to nourish the diversity of the local ecosystem on the Isle of Man. 

While other programs are either physical or online, for this collaboration we opted for a three weeks on-site program, with online sessions in between. This was great as we continued our conversations on a regular basis while learning and sharing knowledge as a group. Simon and the team on the Island were instrumental in making this a success.  

 Q5 – How have you found working with the Isle of Man government and the business community on the island? 

Absolutely fantastic! We couldn’t have asked for a better partner for the program. What has been achieved so far has only been possible due to such a great team. Simon Pickering, besides leveraging his network to bring value to the local ecosystem, has consistently and devotedly gone above and beyond in making introductions, sharing events with different parties, all with the objective of bringing relevant parties together to collaborate and innovate. Mike Batey has also been passionately bringing value to the teams and corporates through his vast experience, diligence and network. Sharon Connor has also been a great team player, organizing and coordinating the program and ensuring everything ran smoothly.

The business community is certainly diverse and welcomed us with open arms. From the beginning, the community was eager to learn about the teams, their solutions and innovation in general. My impression is that everyone has been very welcoming, friendly and eager to absorb cutting edge solutions. Overall we’ve had a very positive experience. 

 Q6 – Looking ahead to demo day and beyond, what are the next steps once the program finishes? 

While the Demo Day is concluding the program, this certainly does not mean the end of our journey with the Isle of Man. On the contrary, the idea of the program was to help our teams come together with the local community on the Island to create what would be the start of a prosperous relationship. We will continue supporting the start-ups and corporate partners where needed and we are pleased to hear some of the start-ups might even move to the Island!