SWIFT, in a partnership with the Bank of Russia, will hold the Innotribe Startup Challenge among fintech startups for the first time in Russia. The event will take place as part of the programme of the International Financial Congress.
The Innotribe Startup Challenge was launched in 2011 and has now become one of the most well-known international fintech startup competitions. Since it started, more than 650 startups around the world have taken part in the competition.
“The collaboration between SWIFT, the Bank of Russia and the other Rosswift task force members (National Settlement Depository Sberbank and Alfa-Bank) has been very intense and very enriching, and I’m happy that this major event has allowed my Innotribe and other specialists focusing on FinTech to meet with the buoyant Russian FinTech environment!” says Matthieu de Heering, SWIFT’s Head of Russia, CIS and Mongolia. “I look forward to a great event at the IFC, and to the three winners leveraging their time at Sibos for invaluable international exposure and experience!”
Ten fintech startups will present their products and solutions during the competition. They have all been selected by international experts and have undergone a special acceleration programme.
The challenge participants will present projects in such areas as innovative services for users of financial products, the use of modern communication channels and artificial intelligence technologies, innovative solutions for entrepreneurs in microfinance, credit brokers, and virtual banking.
IFC 2017 participants who attend the contest will vote to select the three best teams that will be given the opportunity to represent Russia at the annual Sibos Conference in Toronto, Canada in October 2017. The winners will also receive cash prizes.