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National Bank of Canada launches Innovation Competition

Source: National Bank of Canada

National Bank is launching the Innovation Competition, a large-scale challenge that will bring together Canadian fintech startups, students and other teams of individuals from across Canada.

Participants will develop new solutions to help individuals save more efficiently and manage their money. The Bank is committed to fostering innovation in the wealth management industry, supporting young entrepreneurs and making a difference in financial habits across the country.

The competition, created in partnership with Flinks and OSMO, will take place over a 6-month period. Finalists will get the opportunity to pitch their business and technology solutions to a panel of National Bank executives, venture capitalists and tech leaders. Teams have a chance to win a $100,000 cash prize*. Applications will be accepted until December 20, 2019, and the Grand Finale will take place on April 30, 2020.

Quote

"National Bank has been working closely with top fintechs for many years now. They play a key role in enhancing the quality of our service offer and in promoting entrepreneurship and technology in society at large. I’d like to invite startups, students, innovators, and teams of individuals to take up this innovation challenge with us,” said Louis Vachon, President and Chief Executive Officer of National Bank.

* Prize awarded: $50,000 when the winning team is announced and another $50,000 in 3 to 6 months, provided the team submits a business plan to the organizer's satisfaction and demonstrates sufficient progress toward developing the product in question.

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