Looking to Raise Funds for your Early-Stage Startup? Apply Now for the Stanbic IBTC Innovation Challenge

Applications are open for the Stanbic IBTC Innovation Challenge 2018.

Organised by Stanbic IBTC bank in partnership Co-Creation Hub (CcHUB) the challenge aims to leverage digital technology, innovation, and expertise outside the traditional financial service providers, to improve efficiencies and capture new innovative ideas that add value to the financial sector of the country.

The @stanbicibtc Innovation challenge is officially open!!!

Calling all early-stage startups and product teams to submit solutions to the any of the 3 challenge problem areas.

Visit https://t.co/vHBeweal0H for more information on how to submit your application. #Sicc2018 pic.twitter.com/cYAmE8PXNt

— Co-Creation Hub (@Cc_HUB) August 6, 2018

Challenge Areas

The challenge invites entries from technology startups across Nigeria, with the skills and expertise required to execute world-class solutions to identified areas within Stanbic IBTC:

• Card Insurance: This is aimed at revamping the card issuance system to make it seamless and cost-efficient and ensure that every customer is able to claim their debit cards.
• Data Analysis: This deals with the creation of an efficient data analytics system that collects and collates relevant customer data, and transforms them into insights used to improve service delivery.
• Stock Trading: This involves the customer stock trading experience through creating a simplified trading platform that is easy to understand.

The ideas presented will be judged based on the concept of the solution and the quality of the prototype developed. The top three (3) selected startups will receive cash prizes and pre-incubation support via the Co-Creation Hub (CcHub) pre-incubation services between September 2018 to March 2019.

While the winning solution will receive a funding of $12,500 in cash, and a workspace in the Stanbic IBTC Blue Lab (valued at $2500).

Eligibility

• Startups must be product development teams and technology startups across Nigeria.
• Startups should have the skills and expertise to execute on world class solutions.
• Individuals and partnerships (of not more than 3 persons) from university students, software developers, academics and entrepreneurs in Nigeria.
• Submissions can be inform of working prototypes, applications, technologies, tools, services or other kinds of digital innovation.

Note that CcHUB/Stanbic IBTC reserves the right to limit, or restrict upon notice, participation in the challenge to any person who fails to comply with these terms and conditions.

Applications are currently open until 14th September, 2018. So are you an early-stage startup with an innovative idea or technology-driven solution? You can click here to apply.