The Institut de la Finance Durable launches the 7th edition of the Fintech for Tomorrow Challenge
On June 11, 2024, at the Paris Finance Forum, the Institut de la Finance Durable announced the opening of applications for its Fintech for Tomorrow Challenge, a benchmark initiative to support and promote sustainable fintechs. Innovative projects whose activities support the transformation of financial sector practices and/or the redirection of flows towards a sustainable, fair and inclusive economy have until September 6, 2024 to apply.
At the heart of the ecological transition, finance has a key role to play. That’s why, for the past 7 years, the Fintech for Tomorrow Challenge has supported and promoted innovative solutions to finance the ecological and inclusive transition, and which contribute to reducing the environmental impact of the financial sector.‘The Fintech for Tomorrow Challenge offers a great framework for the development of sustainable Fintechs, which can play a role in the Paris financial center’s action in favor of the ecological transition. We’re delighted to bring together partners and sponsors around a collective commitment to innovative and sustainable projects’, adds Cécile Goubet, Managing Director of the Institut de la Finance Durable. The seventh edition of the Fintech for Tomorrow Challenge will, like the previous edition, offer three categories of fintechs the opportunity to compete according to their level of maturity. Project leaders will be able to submit their applications in one of the following categories:
- The ‘Graine’ prize is aimed at projects in the creation phase, for companies that do not necessarily exist. The winner will receive a financial prize of 30,000 euros, a Masterclass package from SeaBird Impact, a Bpifrance Masterclass on project financing, and support from La Banque Postale’s incubator, Platform58.
- The ‘Jeune pousse’ prize is aimed atexistingcompaniesin the testing phase, with a proven but not necessarily established concept. The company needs structuring to develop and define its business model. The winner will receive a financial prize of €25,000, a Masterclass package from SeaBird Impact, a Masterclass from Bpifrance, support from the Platform58 incubator, dedicated coaching from Ailancy and a one-year membership of the Pôle Finance Innovation cluster.
- The ‘Arbre’ prize is aimed at companies in an acceleration phase, seeking to develop a model capable of generating long-term profit. The winner will receive a financial prize of 20,000 euros, a Masterclass package from SeaBird Impact, a Masterclass from Bpifrance, support from the Platform58 incubator, dedicated coaching from Ailancy and a one-year membership of Pôle Finance Innovation.
In order to best meet the needs of project leaders, the winners of the 2024 edition will also benefit from a 5,000 euro envelope to cover office rental or incubation within incubators and historical partners of the Fintech Challenge: Paris & Co, Liberté Living Lab or Willa.In addition to these three prizes, three ‘Coup de Coeur’ will be awarded by the Challenge’s sponsors, according to specific overriding criteria: highlighting innovation in the insurance sector for the ‘Coup de Coeur’ #FranceAssureurs; promoting diversity and inclusion within the sector for the ‘Coup de Coeur’ #ClimateFinanceFund; and export interest in North America for the ‘Coup de Coeur’ #FinanceMontréal.
In addition to the projects’ contribution to a sustainable, fair, equitable and inclusive economy, special attention will be paid to diversity and inclusion, still a major challenge for entrepreneurship. Jury members will therefore be particularly sensitive to the profiles of entrepreneurs and their teams, in order to highlight under-represented profiles or original career paths.
Entries can be submitted online directly via this link until September 6, 2024: https: //share-eu1.hsforms.com/1mzPIfJSaSDypDlMH6FLmUg2b5tei
The ten finalist entries will be analyzed and shortlisted by a jury at the end of September. The awards ceremony will take place during French Fintech Week, on October 15, 2024.
In addition to high visibility at this event, the selected winners and finalists will benefit from access to a network of committed players thanks to the membership offered within the various market associations (Institut de la Finance Durable and France Fintech) for a period of one year.