Applications are now open for the second-ever Payments NZ Fintech Innovation Challenge, sponsored by Paymark.
We’re looking for Kiwi fintech startups with big ambitions and an innovative product or service that can solve a problem in the financial services sector to enter. Applicants will be competing for a grand prize of $10,000 cash plus a mentoring package.
Our inaugural challenge was held in 2016 and attracted high-quality applications from across New Zealand. We look forward to seeing this year's innovative entries.
How the challenge works
Five finalists will be selected from the pool of eligible entries by our judging panel based on evaluation criteria.
The finalists will pitch their entries to the judges and conference delegation at The Point 2018 in the afternoon of Tuesday 26 June at Cordis hotel, Auckland. Finalists from outside of Auckland can apply to have their transportation costs reimbursed.
Each finalist will have six minutes to present, followed by a four minute Q&A session with a panel of industry experts.
After the presentations, delegates will vote for the grand prize winner. The startup with the most votes will walk away with $10,000 and a generous mentoring package with industry leaders.
Why you should enter
New Zealand’s fintech sector is at an exciting time of growth and change. Our Fintech Innovation Challenge gives startups the opportunity to pitch their product, service or technology to a room of industry experts, decision makers and influencers.
Each of the five finalists will also receive a complimentary double pass to The Point 2018. These give you full access to all conference sessions across both days, as well as the Cocktail Function and Gala Dinner where the grand prize winner will be announced.
Other benefits include:
- Presenting in front of the entire conference delegation of around 300 professionals from across the financial services sector and payments industry.
- Networking opportunities with potential business partners, influencers and decision makers.
- Access to global insights and the latest market intelligence from local and international speakers.
Entrants will need to:
- Establish that their solution is innovative within the marketplace.
- Have an establishment date no earlier than 1 January 2013.
- Fall into the small-to-medium business category.
- Have a demonstrable product or service, prototype or concept.
- Be able to show how their organisation is solving problems that are or could be applicable in the financial services sector.
Applications are open from now until 5pm, Friday 20 April. To enter the challenge, please complete the below application form and email it to [email protected]
Terms and Conditions
1. By entering the Fintech Innovation Challenge, the entrant warrants that its Fintech Innovation Challenge entry does not violate the rights of any third party or any applicable laws.
2. To be eligible for the Fintech Innovation Challenge, the entrant must be a fintech organisation that:
- is a small to medium sized enterprise focussed on delivering innovative financial services solutions, working in areas such as: payments, wealth management, lending, financial services, APIs, insurance, fraud detection, risk analysis, securities, trading, social media tools, big data or data analytics, security, identity, B2B or B2B2C mobile, small business apps and services, or IT infrastructure;
- has an establishment date of no earlier than 01 January 2013 (it does not need to be incorporated); and
- has a demonstrable product or service, or a pre-commercialised prototype or concept.
3. A fintech organisation will not be eligible to enter the Fintech Innovation Challenge if:
- an employee, officer, director, representative or principal of the fintech organisation is an employee, officer, director, representative, or agent of Payments NZ Limited or Paymark Limited, or is a sponsor of the Payments NZ Limited ‘The Point’ conference to be held in Auckland on 26-27 June 2018 (“the conference”); or
- the fintech organisation has been selected as a finalist at a previous Payments NZ Limited Fintech Innovation Challenge.
4. To enter the Fintech Innovation Challenge, an authorised representative of the fintech organisation must complete the application form and email the form to [email protected] by 5pm on Friday 20 April 2018.
5. By entering the Fintech Innovation Challenge, the entrant agrees that Payments NZ Limited may:
- share the application form, and any associated information, submitted by the entrant, with the Selection Panel, Payments NZ Limited, and its participants and members. Payments NZ Limited means its employees, officers, contractors, and appointed agents, including the organising committee for the conference and the event managers Lime and Soda Limited; and
- publish the application form, as well as any associated information submitted by the entrant, including, but not limited to, publication on Payments NZ Limited’s conference website, Twitter, LinkedIn, The Icehouse and NZ Technology Association newsletters as well as communications to Payments NZ Limited’s database.
6. Payments NZ Limited accepts no responsibility for protection of the entrant’s copyright, trade secrets and other intellectual property.
7. Payments NZ Limited reserves the right to adjust or revise the eligibility and evaluation criteria at its sole discretion and as is necessary to uphold the integrity of the Fintech Innovation Challenge. If the eligibility and evaluation criteria are modified, the sole and exclusive recourse available to the entrant is to withdraw its application from the Fintech Innovation Challenge.
8. Payments NZ Limited reserves the right to extend the entry deadline of 5pm Friday 20 April 2018 if it deems it necessary.
9. Composition of the Selection Panel will be determined by Payments NZ Limited and will include a Payments NZ Limited representative, a Paymark Limited representative and an industry or startup subject matter expert.
10. The Selection Panel will select up to five finalists, who will be notified by Payments NZ Limited by 5pm Friday 4 May 2018, or such later date as Payments NZ Limited determines. The Selection Panel’s decision will be final.
11. By entering the Fintech Innovation Challenge, the entrant agrees, if selected as one of the finalists, to provide a minimum of one and maximum of two delegates to:
- attend the conference; and
- participate in the Fintech Innovation Challenge quick-fire presentation and a question and answer session at the conference.
12. Each finalist agrees that the question and answer session will be conducted by a panel of experts selected by Payments NZ Limited and Paymark Limited, as Fintech Innovation Challenge sponsor.
13. Each finalist will be responsible for covering its own expenses for attending the conference. However, finalists located outside of the Auckland region may apply to Payments NZ Limited for reimbursement of reasonable transportation expenses (for up to two participants), not including accommodation expenses. Payments NZ Limited, in its sole discretion, reserves the right to accept or reject an application for reimbursement of transportation expenses in whole or in part.
14. Each finalist will be provided with complimentary passes for up to two representatives to attend the conference.
15. Two awards will be given:
- the Challenge award: this award will be given to the winner of the Fintech Innovation Challenge and will be decided upon by delegates via polling conducted through the conference mobile application; and
- the Panel’s Choice award: all finalists are eligible for this award (including the winner of the Challenge award) and this award will be decided by the Selection Panel.
16. The decision of the delegates and the decision of the Selection Panel will be final.
17. Payments NZ Limited will announce the winner of the Challenge award and the Selection Panel award at the conference Gala Dinner on Tuesday 26 June 2018.
18. If the winner of either award chooses not to accept the award, Payments NZ Limited reserves the right to announce a new winner.
19. By participating in the Fintech Innovation Challenge and attending the conference, each finalist agrees that:
- any content produced on site (e.g. photos, video material, quotes) may be used by Payments NZ Limited for further promotion of the conference and the Fintech Innovation Challenge; and
- its name, details of its organisation and photograph(s) may be published in Payments NZ Limited news updates and collateral relating to the conference.
20. Payments NZ Limited will not be liable for any loss, cost or expense sustained during the course of this Fintech Innovation Challenge.