Deadline: 31 May 2017
Nesta’s Challenge Prize Centre, with the support of the CMA is currently seeking applications for its Open Up Challenge.
The Open Up Challenge is run independently by Nesta’s Challenge Prize Centre, with backing from the CMA and funding from eight of the UK’s largest providers of SME banking – Barclays, HSBC, Lloyds Banking Group, RBS, Santander, AIB Group (UK) p.l.c, Bank of Ireland UK and Danske Bank.
Benefits
Winners receive:
- Cash awards. In the innovation stage they’ll get a £50k grant upfront as a development grant, and then share in a £1m reward pot if you’re one of up to 10 successful Stage 1 prize winners. If they successfully enter the market ready stage they’ll get a development grant from a pot of £500k for up to 5 teams, plus a share of a £2.1m pot if you are one of the final three Stage 2 prize winners.
- Exclusive early-stage access to data. They’ll get access to our sandbox, containing the largest anonymised UK banking transaction dataset ever released, and APIs aligned with the forthcoming open banking standard.
- Technical support. They’ll be able to flexibly access technical support provided by leading practitioners – covering legal and regulatory considerations, data, user experience and more – to help them get market ready.
Eligibility Criteria
UK small businesses are eligible to apply.
How to Apply
Interested applicants must apply online via given website.
Eligible Country: UK
For more information, please visit Open Up Challenge.