The UBS Future of Finance Challenge is for entrepreneurs or start-ups that could change the way finance works and how banks meet their client’s needs. The competition is open for submissions now. The global finals will take place in Zurich in December.
With a first prize of US$50,000, the competition offers the winners a share of over US$300,000 cash prizes and support, over 300 hours dedicated coaching and mentoring from experienced technology and business leaders, and also a chance to further commercialize and scale their ideas and technologies with help from UBS resources and support.
UBS’s innovation teams around the world are already driving new concepts from ideation through prototyping into development. UBS invites innovative companies to join this process by presenting their idea to the UBS teams and then developing it with input and support from the bank.
Sergio P. Ermotti, Group Chief Executive Officer comments: «Financial services companies must have a desire to understand how technology can help them adapt to changing economic forces and new client and employee behaviors. We aim to support the pioneers who are transforming our industry and work with them to provide even better services to our clients. I strongly encourage every ambitious Fintech startup to enter this exciting challenge.»
UBS is looking for individual entrepreneurs or young companies incorporated on or after 1st January 2010 and with an annual turnover lower than $3m. They should have received less than $10m in total investment and not more advanced than series A or B funding.
Participants should have developed:
- An idea/ concept grounded on innovative/ disruptive technology capabilities applied to banking/ finance
- Or a functional demo or prototype of the product, service or application.
The technology solutions proposed should:
- Be focused directly on banking and financial services
- Or have a demonstrable impact in another sector but with a potential connection or application within the banking and financial industry.
The competition is open for submissions now. All submission forms need to be submitted electronically on the dedicated site of the competition.
During the submission period UBS will be holding events and online briefing sessions to explain the challenges, the competition process and take questions. Detail on the events page of the Fintech Challenge.
The application deadline is 23rd September 2015 at 23:59.59 CET.
(SK)
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