Sound Credit Union announcement.
Following the launch of the UW FinTech Pitch Competition, Sound Credit Union (Sound) and UW Tacoma’s (UWT) Milgard Center for Business Analytics have begun accepting applications for the second annual statewide FinTech Incubator Challenge. The Challenge is open to anyone who lives, works, or goes to school in Washington — to apply, applicants submit an idea for a fintech (financial technology) product that will help people make better financial decisions and make everyday life more affordable. The winner of the Challenge will receive $10,000, a spot in the next UW CoMotion Labs incubator cohort, and access to experts and industry insights at Sound.
“We’re always looking for innovative ways to serve our members and provide them with banking solutions that are smart, convenient and secure,” said Don Clark Jr., Sound’s President and CEO. “This collaboration with UWT is fantastic because it allows us to tap into a deep pool of homegrown talent and offer a uniquely valuable prize.”
In recent years, fintech has grown far beyond mobile banking apps as once-fringe trends like mobile payments and cryptocurrency exchanges have become mainstream. “The potential of fintech to help and empower everyday people is enormous,” said Michael Helser, Assistant Director of the Milgard Center for Business Analytics at UWT. “Washington is home to thriving tech hubs, and we are excited to find and nurture the next great fintech idea through the FinTech Incubator Challenge. It’s a win for everybody involved: Sound and their members, UW’s thriving startup incubation environment, and of course the winner, who will receive money, mentorship and tools to bring their business to life.”
Applicants can submit their application and pitch deck to the Sound Credit Union FinTech Incubator Challenge until May 17. A select group of finalists will be invited to present their ideas to a panel of entrepreneurs and industry experts on June 17, and the winner will be announced on June 21.