Citi dangles $50,000 carrot for innovation challenge

Citi dangles $50,000 carrot for innovation challenge

Citi is inviting late-stage fintech startups to apply for an Open Innovation Challenge, to inspire the development of products that can be used to help customers better manage their debt and improve their financial well-being.

The five-week virtual programme will culminate in a live demo presented to leaders at Citi in New York, and will conclude with the selection of at least one participant for a financial award of $50,000 and an additional 3-day design workshop.

Successful applicants will participate in the Citi FinTech Integration Program, where they will engage with internal departments and key strategic partners through webinars, and “Ask Me Anything” sessions to gain an understanding of the requirements needed to work with a large financial institution.

Mentorship will be aimed at helping companies get commercial buy-in for their ideas at Citi, combined with practical lessons and tools applicable to onboarding with other large corporations.

The deadline to apply is 16 November 16th with the programme running from 7 January through 8 February. The final week in New York for live demos to Citi leadership is 11-15 February.

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