Stanbic IBTC Innovation Challenge 2018: Apply Now!

Stanbic IBTC Innovation Challenge 2018

The Stanbic IBTC Innovation Challenge 2018 is open for Tech Entrepreneurs who have world class solutions to challenges in the financial sector.

Are you an entrepreneur and you believe that your solution can ease debit cards delivery, enhance efficient management of customer data and trading experience in the financial sector, then enter for the The Stanbic IBTC Innovation Challenge 2018.

The Stanbic IBTC Innovation Challenge is a competition aimed at developing solutions to improve service offerings and delivery through collaborations with entrepreneurs in the digital technology and innovations space.

In conjunction with CcHub, the Stanbic IBTC Innovation Challenge 2018 will seek to improve service delivery and chart the course of the digitization of the current model of financial servicing in Nigeria.

The Stanbic IBTC Innovation Challenge 2018 Solution Areas

We invite entries from technology startups and product development teams across Nigeria, with the skills and expertise required to execute world-class solutions to identified areas within Stanbic IBTC:

1. The branch network aims to revamp the card issuance system, to ensure that every customer is able to claim their debit cards.

How might we improve the process of customer card deliveries to be more seamless and cost-efficient?

2. Stanbic IBTC Asset Management Limited houses vast amounts of data that can be utilized to serve its customers better.

How might we create an efficient data analytics system that collects and collates relevant customer data, and transforms them into insights used to improve service delivery?

3. With changing consumer behavior, Stanbic IBTC Stockbrokers Limited needs to constantly adapt its online trading platform to users’ preferences.

How might we improve the customer trading experience through creating a simplified trading platform that is easy to understand?

Eligibility Requirements

We invite entries from product development teams and technology startups across Nigeria that have the skills and expertise to execute on world class solutions .

1. The Stanbic IBTC Innovation Challenge 2018 is open to development teams and technology startups across Nigeria that have the skills and expertise to execute on world class solutions.

2. The challenge is NOT open to:

Persons under the age of 18 (eighteen) years old.
Employees of Co-creation Hub (CcHUB), Stanbic IBTC and its affiliates.
Anyone professionally involved in the development or administration of this Challenge.
Any employee whose employer’s guidelines or regulations do not allow entry in the Challenge.
CcHUB/Stanbic IBTC reserves the right to limit, or restrict upon notice, participation in the Challenge to any person who fails to comply with these terms and conditions.

3. To enter the competition, the entrant(s) must meet the following criteria (submission requirements) and confirm acceptance of these terms and conditions.
Submission requirements

Name of Startup.
Year the business was launched.
Entrant’s name(s).
Email address(es).
Phone number(s).
City where entrant(s) is/are based.
Number of user/customers
All submissions must include a brief description of the business including:
An outline of the problem that your business/venture addresses.
An explanation of the solution that is being deployed to address the problem above.

Entry begins on 06 August 2018 and ends on 14 September 2018.

The top 3 ventures from the Challenge will be supported to scale and grow through the CcHUB incubation program from September 2018 -March 2019


The top three (3) selected ideas will receive incubation support via the Co-Creation Hub (CcHub) incubation services, and the winner immediate cash prizes.

Successful Entries/submissions will be acknowledged with a response.

Selection of Successful Applicants

A panel of Co-creation Hub appointed experts (the panel) will judge the entries on their ability to meet the criteria outlined in the focus areas for the challenge and potential to solve the problem outlined.

The top 10 idea proponents will be notified – Shortlisted participants will be required to show identification or proof of address which will be verified before the pitch event in September, 2018.

Shortlisted entrants will have the opportunity to pitch their ideas to the judges and the winning ideas will be chosen.

The panel will select a maximum of three entries from all external entries; the panel’s decision is final.

The three finalists will be notified by email or telephone using the information supplied at time of entry on the competition website:

Each finalist may be required to sign and return an affidavit of eligibility, indemnity, publicity and liability release), within 7 days of notification.

Each finalist may also be required to verify the facts of his/her story and/or provide additional documents as may be required by Stanbic IBTC to confirm and/or assign rights in the entry.

The three finalists will be required to submit a video still/image as a hero image for promotional purposes (including full credit and caption information).

The winner will receive cash prizes and be supported with a range of services focused on product development, distribution and business modelling to turn their ideas into fully working products to launch in March 2019.

Deadline for Submission of Applications for the Stanbic IBTC Innovation Challenge 2018 is September 14, 2018

Apply for the challenge by visiting the Application Portal Now!

Learn more about the challenge here.

Share this with your friends and networks so they too can apply.

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