Prize

Twenty teams are participating in Stage 1 of the Open Up Challenge. Below is an overview of the prize.


Participants – Stage 1


Prize Fund – Stage 1

  • Cash Awards
    • Each of our 20 Stage 1 participants has received a £50k up-front development grant, and are competing to share in a £1m reward pot if they’re one of up to ten successful Stage 1 prize winners.
  • Exclusive Early-Stage Access to Data
    • Stage 1 participants are developing their products with the support of a Data Sandbox, containing one of the largest anonymised UK banking transaction datasets ever released, and APIs aligned with the forthcoming Open Banking standard.
  • Expert Support
    • Our 20 Stage 1 participants have access to expert support provided by leading practitioners – covering legal and regulatory considerations (Kemp Little), user experience (Mint Digital) and investment readiness (FINTECH Circle) – to help them prepare for the 2018 open banking environment.

Key Dates – Stage 1

 
  • Applications for Stage 1 have now closed.
  • Grant winners have been notified.
  • The Open Up Data Sandbox has gone live.
  • 9 – 30 November 2017: Window for Stage 1 finalists due diligence, including interviews.
  • 7 December: Pitching day in London.
  • 15 December: Stage 1 prize awards made.

Stage 2

Applications for Stage 2 (Market Ready) will open early 2018.

Check back toward the end of 2017 for the full details, or contact openupchallenge@nesta.org.uk to discuss.