Got a FinTech idea? Win $10,000

The Milgard School of Business Center for Business Analytics and Sound Credit Union are accepting applications for the second annual statewide FinTech Incubator Challenge. The Challenge is open to anyone who lives, works or goes to school in Washington. To apply, applicants submit an idea for a fintech (financial technology) product that will help people make better financial decisions and make everyday life more affordable.

The winner of the Challenge will receive $10,000, a spot in the next UW CoMotion Labs cohort, and access to experts and industry insights at Sound Credit Union.

“This is a terrific opportunity for UW students, faculty and staff to build the next big thing in fintech,” said Michael Helser, assistant director of the Center for Business Analytics. “The $10,000 prize, membership in UW CoMotion Labs and access to industry experts will accelerate your idea from incubation to commercialization.”

“Financial technology is rapidly changing the financial services industry,” said Jennifer Reed, vice president for public relations at Sound Credit Union. “As a financial institution, one of our priorities is providing our members with the latest financial technology tools and resources. Our statewide Challenge gives fintech entrepreneurs a chance to collaborate with industry experts and bring their ideas to life.”

In recent years, fintech has grown far beyond mobile banking apps as once-fringe trends like mobile payments and cryptocurrency exchanges have become mainstream. “The potential of fintech to help and empower everyday people is enormous,” said Helser. “Washington is home to thriving tech hubs, and we are excited to find and nurture the next great fintech idea through the Challenge.”

The Challenge is open to a broad array of fintech ideas, including but not limited to: blockchain, cryptocurrency, cybersecurity, intelligence augmentation/artificial intelligence, personalized advice platforms, lending and crowdfunding platforms, financial wellness, financial education, digital banking/wallets/payments/settlements, smart contracts, asset management, and big data/machine learning.

Applicants can submit their application and pitch deck to the FinTech Incubator Challenge until May 17. A select group of finalists will be invited to present their ideas to a panel of entrepreneurs and industry experts on June 17, and the winner will be announced on June 21.