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Calgary fintech startups take note: There’s $300K up for grabs

2nd annual competition is now open for applications.

Applications are now open for the second competition for a Calgary fintech prize worth $300K.

The Digital Commerce Calgary Fintech Award, co-sponsored by Digital Commerce Bank and Platform Calgary, highlights innovation in the financial technology sector.

The goal of the competition is to support Calgary-based fintech startups or those looking to expand to the city. The prize is touted as the largest non-dilutive cash prize of its kind in North America.

“Calgary has all the right components to build leading, globally competitive fintech companies, because of its educated workforce, opportunities, and available capital — and the award offers an additional critical boost for startups looking to stay and grow in Calgary,” said Platform Calgary CEO, Terry Rock.

Last year, Filip Fleet and Woveo took home $310,000 in prizes.

According to Filip Fleet’s CEO Alice Reimer, the award would fuel further growth.

“There is an untapped potential,” Reimer told LWC at the time.

Those companies survived three rounds of vetting by industry pros. Last year, there were 46 applicants that survived the initial selection process.  On the final night, five companies stated their case on the pitch stage at Platform Calgary.

Only 25 entries are selected to participate in a six-week program. Those companies will take part in workshops, panel discussions and receive coaching and mentorship.

“Launching and growing a new business is difficult. Entrepreneurs struggle to raise funds, build

connections, and gain exposure for themselves and their products or services,” said Jeffrey Smith, Co-Founder and CEO of Digital Commerce Bank.

“That’s why the Digital Commerce Calgary Fintech Award proves to be a game changer – connecting founders to world-class advisors, industry leaders, and investors, and giving them a chance to win a cash award to accelerate and elevate their companies.”

Applications are now open and go until June 5, 2023.