Swift’s Innotribe Challenge 2013 opens for entries
Peric: "an unrivalled opportunity" for entrepreneurs
Swift has opened its Innotribe Startup Challenge 2013 for entries. The year-round competition is intended to introduce financial industry decision makers and early-stage investors to the “innovations and emerging companies that are poised to transform the industry”.
This year’s Challenge is expected to attract hundreds of early-stage start-ups and growth-stage innovators from around the world. It includes three regional showcases in the US, Asia and Europe. Dozens of industry professionals will select five of the companies as finalists –three start-ups and two growth-stage innovators – at each of the three events to present to in a final held at Swift’s annual Sibos conference, which this year is in Dubai in September.
Kosta Peric, head of innovation at Swift and co-founder of Innotribe said: “The Innotribe Startup Challenge is an unrivalled opportunity for the most innovative entrepreneurs and professionals of our industry to engage with senior decision makers from global financial institutions. The 2012 Challenge was a huge step towards bridging the gap between the start-up and wider financial communities, and I know that this will continue in 2013. This year, CTOs and other executives are under pressure to cost-effectively maintain their levels of excellence but are also expected to implement innovative new projects. Collaboration between start-ups and investors to help create products that the whole finance community can benefit from is what Innotribe is all about.”
To be eligible, start-ups must have a working prototype and less than $1 million in revenue or investment. Growth-stage companies must introduce innovations that have not yet been publically announced.
In 2012, more than 400 financial technology and service start-ups entered the competition, with 15 finalists chosen to compete in the final at Sibos in Osaka.
This year’s regional showcases will be held in London in April, Singapore in May and New York in June 2013.
