Rietumu FinTech Challenge 2016 Applications Open



TechHub Riga in cooperation with Rietumu Bank has just announced the second annual  Rietumu FinTech Challenge 2016 by TechHub Riga Academy that will take place on April 21st. Startups developing a service or product for money operations in any form is encouraged to apply. The best teams will have an opportunity to take part in a one day mentorship class and receive expert advice on business strategy and compete for the main money prize from the sponsor Rietumu Bank.

“Financial services make up a big part in the world economy, with billions of euros tornover every year. The potential of technology innovation in this field is very high. Traditionally, it is also a very conservative market, which in turn gives startups with experience in tech a chance to offer a fresh perspective and specific solutions that improve financial processes, save time and money. This potential is highly valued by investors, as we saw FinTech investment rise above one and a half billion euros last year,” said TechHub Riga CEO Egita Poļanska.

Every startup developing a service or product related to finance technology is encouraged to apply to Rietumu FinTech Challenge. There are no geographical or stage limits, but startups from the Baltics, Northern Europe and CIS countries at the early and seed stage, when the need for mentorship, presentation skills and advice is especially crucial in creating a business strategy are especially invited. The working language of Rietumu FinTech Challenge will be English.

Rietumu Bankas Member of the Board Renāts Lokomets emphasizes: “With the Challenge, we hope to support and bolster the positive trend we can see lately. We aim to not only give startups an opportunity to attract funding to develop their idea further, but also to give a bigger audience for the innovative ideas in finance technology that characterize a new era of banking, to attract the interest of investors and potential partners, to present their product, service and vision to a wider world.”

Startup teams can apply here https://www.f6s.com/rietumufintech/apply
Applications are open until April 8.

TechHub Riga team of experts will choose the best statup teams from the applications, who will then receive an invitation to take part in Rietumu FinTech Challenge 2016 by TechHub Riga Academy on April 21. The teams will be offered high-class mentors with experience in finance sector, entrepreneurship, presentation and investing, who will help the participants formulate and present their idea to both potential customers and investors and choose the best business strategy. All teams will get their time on the stage at the final pitch battle, when a professional and independent international jury will take over to evaluate their pitches and choose the best team to receive the money prize.

Rietumu FinTech Challenge by TechHub Academy is organized by the foundation TechHub Riga, the first and leading IT and tech startup co-working space that daily accommodates more than 30 startups and organizes various tech and startup related events, such as Monthly Meetups and TechHub Startup Academy.

Rietumu is the leading private bank in Latvia, specialising in corporate banking and wealth management. Rietumu Bank provides a complete spectrum of modern financial services, including the organisation of businesses of clients in the internet environment.

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