Financial messaging network Swift is to extend its start-up challenge to three regional showcase events in the US, Asia and Europe, inviting companies to pitch for the chance to present their innovations to financial institutions at Sibos - Swift's annual conference - in Osaka in 2012.
The contest - open to both startups and later-stage companies - is run by Swift's Innotribe innovation unit. To be eligible, startups must have a working prototype and less than $1 million in revenue or investment. Later-stage companies must introduce innovations that are still 'under the radar'.
Kosta Peric, head of innovation, Swift says: "Bringing innovators and investors together to help create and promote products that the whole industry can benefit from is exactly what Innotribe is all about."
In 2011, over 200 financial technology and service start-ups applied to the Challenge. This year's competition at Sibos In Toronto was won by Truaxis and GuardTime, each netting $50,000 in prize money. Mike Gault, CEO of GuardTime says participation in the challenge generated more than 50 leads for the Singapore-based firm.
This year's Regional Showcases will be held in New York on 8 February 2012, Bangkok in April 2012 and Belfast in June 2012. For more information or to apply to participate, visit Innotribe Startup.