Open Up Challenge 2020 – Entrepreneur-in-residence drop in.
Event description - Applications are open for the Open Up Challenge 2020 – a £1.5m prize fund to unlock the power of open banking for UK Consumers. To coincide with Fintech Fortnight, Open Up Entrepreneur-in-Residence Sarah Tierney will be holding tailored, one-to-one application reviews for teams applying to the challenge. book your slot here
Open Up 2020 is designed and timed to boost consumer awareness and adoption of open banking-enabled products and encourage fintech innovators to create solutions which help people make more of their money. Nesta Challenges will be distributing up to £300k each to 12 to 15 fintechs, promoting their products in a national digital marketing awareness campaign, and offering expert non-financial support to help accelerate product development and user adoption.
This prize follows directly on from the first Open Up Challenge, a prize fund which ran from 2016 to 2018 backing the next generation of fintech products and apps for UK small businesses. Since being selected to Open Up 2018, two winners (Fluidly, Funding Options) have raised £5M+ investment rounds, three winners (Swoop, Funding Options and Fluidly) have been awarded £5m each as part of the RBS Alternative Remedies Package, and all six have announced significant user traction milestones.
Applications are open until October 2nd 2019 and guidance on how to apply can be found at https://openup.challenges.org/apply/