Frequently Asked Questions

Why is Stanbic IBTC running the Stanbic IBTC Innovation Challenge?

Stanbic IBTC Group in conjunction with CcHUB is running the 'Stanbic IBTC Innovation Challenge'. The aim of the challenge is to leverage innovation and expertise outside the bank, to improve efficiencies and capture new opportunities to add value to customers leveraging digital technology.

The challenge will engage eligible early stage Fintech startups, product development teams and innovators across Nigeria to submit innovative solutions to solve problems across three Stanbic IBTC business units:

  • Stanbic IBTC Bank

  • Stanbic IBTC Asset Management Limited

  • Stanbic IBTC Stockbrokers Limited

Through the challenge, we hope to find hidden innovators across the length and breadth of Nigeria, supporting them to develop their solutions and to scale leveraging digital technology and CcHUB’s reach and networks.

Who can participate in the challenge?

We invite entries from technology start-ups and product development teams across Nigeria, with the skills and expertise required to execute world-class solutions to identified problem statements.

What are the phases of the challenge?

The challenge will run in the following stages:

Call for Ideas 06 August 2018 – 14 September 2018
Idea Open Day 24 August 2018
Pitch Preparation 10 October - 12 October 2018
Pitching Session 12 October 2018
Incubation 12 October 2018 - 29 March 2019

What type of innovative solutions would be considered?

You can submit working prototypes, applications, technologies, tools, services or other kinds of digital innovation.

Are there thematic areas the innovative solutions should address?

We’re particularly keen to hear solutions that address efficiency in data collection & analysis, cost-efficiency around card deliveries, and a simplified trading platform.

We are open to all solutions as long as they are innovative, solve a clear problem and contribute to solving the problems around individual philanthropy.

Will Stanbic IBTC own submitted solutions?

No. Entrants will retain the rights to any intellectual property pertaining to their solutions.

Who will be participating in the judging panels and how are judges selected?

The judges will include Stanbic IBTC and CcHUB executives and other industry professionals.

The judging panels are typically designed to ensure there are subject matter experts on the judges panel who generally reflect aspects of the submitted entries.

How will submitted solutions be assessed?

The submitted solutions will be judged on the following criteria:

The concept of the solution

The quality of the prototype developed

How will the finalists be notified?

Due to the volume of submissions we anticipate, only the shortlisted submissions (top 10) will be notified via email after selection has taken place

Will winners be incubated?

The top three (3) selected solutions will receive incubation support via the Co-Creation Hub (CcHuB) incubation unit.

Where can I view the full terms and conditions for the Challenge?

You can view the full terms and conditions for the Stanbic IBTC Innovation Challenge here

Organised By

Implementing Partner