Citi Promotes Technology Innovation  

0

By Nume Ekeghe

Citibank has announced the Citi Tech for Integrity Challenge (T4I), a landmark effort to encourage technology innovators from around the world. The initiative is also to create cutting-edge solutions to promote integrity, accountability and transparency in the public sector and beyond.

The initiative, led by Citi, in collaboration with public and private sector allies, will provide public sector entities with access to tech innovators and their ideas on how to increase transparency and efficiency. T4I will also provide the support and infrastructure that tech innovators need to tailor new technology solutions for this market.

T4I is structured as a global open innovation competition, where companies of any type or size can submit technology solutions. The challenge will seek to source innovation in a number of areas, including government transactions and procurement; culture, ethics and citizen engagement; cutting red tape; and information security and identity.

According to a statement, selected participants would enrol in a virtual accelerator program, which would provide mentoring, curriculum and infrastructure support to help them enhance their submissions.

“Finalists will showcase their solutions at one of six Demo Days in cities around the world, including Buenos Aires, Dublin, Hyderabad, Mexico City and Singapore in May and June. Due to the open nature of the competition, award recipients from the Demo Days will have the opportunity to work with any business, organization or government interested in exploring innovative integrity tools,” it added.

In addition, Citi has released the results of a two-month crowdsourcing survey of more than 150 individuals, spanning public, private and non-governmental organizations around the world, to identify Integrity Pain Points on which developers should focus their efforts.

Global Head of the Public Sector Group in Citi’s Corporate and Investment Banking division, Mrs. Julie Monaco: “We are proud to launch the Citi Tech for Integrity Challenge, by supporting open innovation and providing innovators with the tools they need to develop ideas, we hope to help solve some of the biggest challenges that the public sector faces.”

With this announcement, Citi officially opened the application process for companies to submit ideas. T4I will accept applications until March 6, 2017. The accelerator program will run from March to April, when finalists will be selected to participate in Demo Days.