Deadline: September 14, 2018
The Stanbic IBTC 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.
The Stanbic IBTC Innovation Challenge aims to leverage digital technology, innovation and expertise outside the traditional financial service providers, to improve efficiencies and capture new opportunities that add value to customers. This innovation Challenge is an initiative sponsored by the Stanbic IBTC Holdings and will be delivered by Co-Creation Hub (CcHUB) Nigeria.
Do you have an innovative idea or technology-driven solution? Apply for the Stanbic IBTC Innovation Challenge.
Prizes
The top three (3) selected ideas will receive immediate cash prizes and further pre-incubation support via the Co-Creation Hub (CcHub) pre-incubation services.
The winning solution will receive total funding valued at $15,000; $12,500 in cash, and workspace in the Stanbic IBTC Blue Lab (valued at $2500).
Challenge Areas
They invite entries from technology startups and product development teams across Nigeria, with the skills and expertise required to execute world-class solutions to identified areas within Stanbic IBTC:
- Card Insurance: The branch network aims to revamp the card issuance system, to ensure that every customer is able to claim their debit cards. How might we improve the process of customer card deliveries to be more seamless and cost-efficient
- Data Analysis: Stanbic IBTC Asset Management Limited houses vast amounts of data that can be utilized to serve its customers better. How might we create an efficient data analytics system that collects and collates relevant customer data, and transforms them into insights used to improve service delivery?
- Stock Trading: With changing consumer behavior, Stanbic IBTC Stockbrokers Limited needs to constantly adapt its online trading platform to users’ preferences. How might we improve the customer trading experience through creating a simplified trading platform that is easy to understand?
They invite entries from product development teams and technology startups across Nigeria that have the skills and expertise to execute on world class solutions .
Eligibility
- Application is opened to Product development teams and Technology startups across Nigeria.
- 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.
- You can submit working prototypes, applications, technologies, tools, services or other kinds of digital innovation.
Selection Criteria
The submitted solutions will be judged on the following criteria:
- The concept of the solution
- The quality of the prototype developed
The challenge is not open to:
- Persons under the age of 18 (eighteen) years old.
- Employees of Co-creation Hub (CcHUB), Stanbic IBTC and its affiliates.
- Anyone professionally involved in the development or administration of this Challenge.
- Any employee whose employer’s guidelines or regulations do not allow entry in the Challenge.
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.
Application
The challenge will run in the following stages:
| Call for Ideas | 06 August 2018 – 14 September 2018 |
| Idea Open Day | 24 August 2018 |
| Pitch Preparation | 26 September – 28 September 2018 |
| Pitching Session | 28 September 2018 |
| Incubation | 28 September 2018 – 29 March 2019 |
To enter the competition, the entrant(s) must meet the following criteria (submission requirements) and confirm acceptance of these terms and conditions.
Submission requirements
- Name of Startup.
- Year the business was launched.
- Entrant’s name(s).
- Email address(es).
- Phone number(s).
- City where entrant(s) is/are based.
- Number of user/customers
- All submissions must include a brief description of the business including:
- An outline of the problem that your business/venture addresses.
- An explanation of the solution that is being deployed to address the problem above.
- Entry begins on 06 August 2018 and ends on 14 September 2018.
The top 3 ventures from the challenge will be supported to scale and grow through the CcHub pre-Incubation programme from July-January 2018
For more information, visit Stanbic IBTC Innovation Challenge.
