Geniuses and masterminds of the Fintech startup world, here’s your break-though moment!
The reputed global Swiss bank, UBS has announced a unique contest of sorts.
Titled, ‘Future of Finance Competition, it’s the second in the series to be announced globally by the bank and offers funding of up to $200,000 to run proof-of-concept or pilot trials for outstanding start-ups, selected as winning entries.
In addition to a cash prize of US$20,000, UBS will inject a capital investment of up to US$200,000 to put the winner concept to production.
The contest is open to all Fintech start-ups around the world. Entries submitted must be an original, innovative and potentially disruptive technological idea that would stand the test of the evaluators and judges panel in the contest. Submissions are welcome till end July 2017.
Divided into 4 regional geographical areas, the bank will accept up to 40 entries and will sign up the participants for 250 hours of dedicated coaching and mentoring as they refine the ideas.
The Fintech areas to be addressed in the startup idea are : Ecosystem, RegTech and LegalTech, Investment Banking 4.0 and Wealth in the Digital Age.
Demo day finals will be in Autumn 2017, and across Hong Kong, New York, London and Zurich.
The words of Axel Lehmann, UBS Group Chief Operating Officer, truly echoes the spirit of the contest. “Technological enhancements present a unique opportunity for a step-change to our client offering. We aim to support Fintech companies and organizations who are transforming our industry and work with them to provide even better services to our clients. I strongly encourage ambitious, growing Fintechs to enter this exciting competition.”, he says.