Insure TechSprint 2022
Inviting Innovators to build with us
#techsprint
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About Us
Welcome and thank you for your interest in the G20 TechSprint 2022
The Saudi G20 Presidency and the BIS Innovation Hub in Singapore have launched the G20 TechSprint, with the support of the Monetary Authority of Singapore (MAS), the Financial Stability Board (FSB), API Exchange (APIX) and the RegTech for Regulators Accelerator (R2A).
The G20 TechSprint seeks to showcase the potential for new innovative technologies to resolve operational problems in the areas of regulatory compliance (RegTech) and supervision (SupTech).
Problem Statements
In G20 TechSprint, members of the Financial Stability Board (comprising global regulators and supervisors) were polled to identify high priority areas in the fields of RegTech and SupTech. The following most compelling problem statements have been selected. Participants are invited to develop innovative solutions to address any of these problem statements.
Can a technological solution be developed to facilitate the sharing of critical information among regulators and supervisors? Through the use of an application that sources both structured data and publicly available information that may be unstructured on a near real-time basis. The solution should offer a comprehensive overview of the measures undertaken within and across jurisdictions.
Can a technological solution be developed to facilitate the sharing of critical information among regulators and supervisors? Through the use of an application that sources both structured data and publicly available information that may be unstructured on a near real-time basis. The solution should offer a comprehensive overview of the measures undertaken within and across jurisdictions.
Monitoring anti-money laundering (AML) and combating the financing of terrorism (CFT) Risk: Crypto assets have garnered significant interest in the financial industry. However, AML/CFT risk in a crypto asset space has been a constant concern for regulators.
Monitoring anti-money laundering (AML) and combating the financing of terrorism (CFT) Risk: Crypto assets have garnered significant interest in the financial industry. However, AML/CFT risk in a crypto asset space has been a constant concern for regulators.
AWARDS
US$ 50,000 Cash Prize!
Winning solutions to each of the G20 TechSprint problem statements will win attractive cash prizes awarded by the Saudi G20 Presidency.
Eligibility
1. We are looking for talented teams of developers & tech entrepreneurs. You should have relevant experience and a track record in developing innovative FinTech/RegTech/SupTech solutions and want to help build the next generation of central banking regulatory and supervisory technologies
2. A shortlist of teams will be selected with the assistance of BFA Global/R2A. If your team is selected to compete in G20 TechSprint, you will have access to the Innovation Community Development platform, powered by the API Exchange (APIX). This is a cloud-based innovation platform with a custom-built sandbox environment which integrates required APIs with your solution prototype.
3. Shortlisted participants will be invited to a Touchpoint event in July 2022. The solutions and prototypes with the most potential will be chosen in September/October by an independent panel of experts commissioned by the Saudi G20 Presidency. The most promising team(s) will be invited to showcase its/their ideas at the Singapore FinTech Festival in November.
FAQ
Am I eligible?
We welcome all professionals, entrepreneurs and developers. Applications are open to all teams from all countries/jurisdictions interested in solving RegTech/SupTech problems and who have a proven ability and track record of delivery – whether that is writing software, designing beautiful user experiences, or product management. Shortlisted teams will need to demonstrate that they have a deployable and potentially scalable solution to a G20 TechSprint problem statement by the time of the final judging takes place.
If you are under 18 years of age, parental consent is required
What is the expected deliverable at the end of the G20 TechSprint and will my team have the chance to deploy the solution?
For this competition, we are seeking production-ready and deployable prototypes. However, there is no commitment or expectation on the part of the organizers that the prototype will actually be deployed. Winning teams will have the opportunity to showcase their solutions during the Singapore FinTech Festival in November 2020.
Is there a cap on the number of applications and proposals for each problem statement?
Yes. We are seeking the best global solutions that will address the problem statements. A limit of applications will be accepted for each problem statement and, after the limit is reached, applicants will be directed to other problem statements, and in the case all limits are reached, no further proposals will be accepted. We will start to review and shortlist proposals as soon as they are submitted and, therefore, we encourage teams to submit their registrations and proposals as early as possible, well ahead of the submission deadline.
Can I participate in multiple problem statement categories?
You can form a team to participate in multiple categories. However, we recommend that each team competes only in one problem statement category, as it will allow your team to focus on your area of strongest specialisation.
Are there any other requirements?
Your final application build should be integrated with the APIX community platform and should be made available to the judging panel via APIX. Consequently, the application must be registered in APIX and the app hosted in APIX. You will have to agree to the terms and conditions of the G20 TechSprint and the APIX platform’s user requirements at the point of registration.
Must I be a registered company?
No, hackathon teams do not have to be registered companies. Although not a stipulation, we anticipate that most teams will comprise around 5-6 members performing different functions to develop the working prototypes. Please take note that all shortlisted teams will be given a single stipend irrespective of the size of team.
Will G20 TechSprint offer stipends?
Shortlisted teams will be given cash stipends. This is intended to offset any travel or development related expenses that may be required. During the G20 TechSprint competition, shortlisted participants will have access to the APIX innovation community platform.
How will the winning proposals be selected?
Both the shortlisted teams and the final winning bids will be selected by an expert panel organized by the Saudi G20 presidency. The BIS Innovation Hub and other sponsors will not participate in the selection. In the final selection, one proposal will be chosen for each problem statement. Cash prizes will be awarded for each winning proposal in October 2020.
Is it possible to participate without attending?
Yes, it is possible to participate through APIX, by allowing for virtual attendance.
Will I retain the IP rights to my developed solutions at the end of the TechSprint?
Your final submission should be integrated with the APIX Platform and should be made available to the judging panel via the APIX Platform. You represent and warrant that you have all the necessary authorizations, permissions, licenses and agreements to participate in the G20 TechSprint and to all material uploaded to or developed on the APIX Platform, and that your participation in the G20 TechSprint and your submission of Solution(s) are in compliance with all applicable laws, rules and regulations.
You will retain the title, rights of ownership, or intellectual property rights of whatever nature in the solutions and any related information that you submit or develop on the APIX Platform in response to the Problem Statements. Notwithstanding the foregoing, in the event that a solution submitted by you is selected by the judging panel as a winning solution, you agree to present the solution during the winners’ demo in a manner and format agreed with the organizers, the Saudi G20 Presidency and BIS.