FARMINGTON HILLS, Mich., Feb. 6, 2018 – Kyyba Innovations in partnership with Techtown Detroit, launches the first ever 'Detroit Fintech Challenge” to identify game changing innovations in the financial services industry. The Detroit Fintech Challenge (DFC), is a pitch competition happening April 6 & 7 at Techtown in Detroit. DFC will bring together dozens of entrepreneurs, coders, developers and other key players and creative minds from across the region to generate enduring solutions to the biggest challenges and major concerns in the financial, payment, banking, and insurance sectors. Through DFC, early-stage companies will be given a theme/ challenge statement category. The challenge statements are the guiding force of DFC, and are cultivated in collaboration with corporate partners. Each statement addresses a broad area of concern as well as a few possible entry points for a technical solution. DFC hopes to drive a community around fintech technologies, engaging all the stakeholders in this space, and creating new and innovative companies.
Tel Ganesan, Managing Director, Kyyba Innovations, commented: “We are so excited to host the first ever Fintech Challenge in Detroit as we truly see this contributing immensely to the current revitalization of the city. As a result of the Detroit Fintech Challenge we expect to create another sector in the city and state leading to economic prosperity for years to come.”
Applicants stand the chance to gain pivotal exposure to stakeholders, market leaders, and influencers in the finance, banking and insurance services market. Cash and non-cash prizes will be awarded to selected winners, including a $50,000 investment from Kyyba Innovations. Corporations can contribute to the curated Fintech Challenge and Data Library that is tied to the key issues or identified “challenge statements”.
Anyone (entrepreneurs, corporations, fintech professionals, service providers, etc..) who wants to contribute to the fintech movement in Detroit are welcome to join the challenge.
“FinTech is truly compelling due to the immense opportunities for disruptive innovation that emerges when startups, financial institutions, consumers and industry partners work in collaborative spaces. The Detroit Fintech Challenge is an intentional effort to position our region at the edge of fintech's perfect storm, which stands to fundamentally reshape the future of the once untouchable financial services industry,” said Paul Riser, Director, Technology-Based Entrepreneurship, TechTown Detroit
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