The race began to identify startups and early stage companies with the latest solutions to help solve the challenge of secure, convenient digital authentication for next generation financial services.
With a prize fund of over $50,000, the Agora Fund Run is launched by MagnaCarta Communications and Transfotech in partnership with Miratech Group, Rise Tel Aviv powered by Barclays, Israel Export and The Open Bank Project.
The competition is seeking to identify the latest innovations from any geography in a field that will power global migration to digital financial services in the next decade.
From use of biometrics, new forms of cryptography and digital signatures to experimental technologies such as zero knowledge systems, the opportunities for startups in this area are as broad as the financial services industry itself. A market with an anticipated value of $1 trillion by 2020 in Europe alone. Startups, entrepreneurs and founders with an idea or working technology that can be applied to an area of financial services should enter through the competition website at www.theagora.org
Finalists will be announced by 5 November and invited to the judging and demo day in Tel Aviv on 15 November where the winner will be announced. The competition winner will receive a $50,000 investment and co-working space at Rise Tel Aviv. The winner will be selected by an international panel of judges including representatives of the Chief Scientist of Israel, Barclays, Cisco Systems, Intel and EY.
Miratech partners with visionaries to change the world, – commented Elena Zhylich, Vice President, Business Development at Miratech. – We will help the winners to bring their vision to life, and we will support them in front of investors.