NTT Data launches The Open Innovation Business Contest, Singapore is a regional stop

• The contest will be open to any startup firm worldwide
• The Grand Finale winner will receive a three-month in-kind contribution worth US$30,000

NTT Data, a global IT service provider, announced on Nov 15 that it will host preliminary contests in 10 locations worldwide with its fourth stop in Singapore on the Feb 22, to attract ideas for venture-business collaborations.

Any startup is welcome to submit a proposal for a venture business in a field such as Fintech, IoT, energy, Insurtech, Big Data, digital marketing, Blockchain, API, personal data, AI, Cyber-Security, Virtual/Augmented Reality, or Robotics.

The winner of Singapore’s preliminary contest will be invited to the Grand Finale contest in Tokyo in March 2017, with NTT Data covering the travel and related expenses for one presenter from each winner to attend.

The Grand Finale winner will receive a three-month in-kind contribution worth US$30,000 (RM129,775) to support the development of their proposed new business.

NTT Data will provide the teams in Singapore with an orientation for interested parties on Nov 21 at BASH (Singapore’s Startup hub).

The application deadline to be considered for the regional pitch day will be Dec 19. On Feb 22, 2017, NTT Data will host Regional Pitch Day for the selected 10 teams. The winner will go on to the Grand Final in Tokyo.

As the result of a previous contest, Money Forward, Inc, Freee, Inc and NTT Data developed a Fintech service for internet banking that was commercialised in February 2016.

Sassor, Inc and NTT DATA are working toward an energy-management initiative that is expected to provide energy-consumption analysis as an IoT service.

According to Koutaro Zanma, head of Open Innovation and Business Incubation Business Strategy Department at NTT DATA, “Our biannual contest to promote collaborations with startup companies worldwide is one of many initiatives on which NTT DATA will capitalise on in the hopes of surpassing 10 billion yen (about 100 million USD) in annual business by 2020. We want to help solve key issues in global society by combining knowledge, technologies and networks both inside and outside of our company.”

Joining forces for the first time, Startupbootcamp FinTech Singapore and NTT Data will work to attract the best talent in Singapore and surrounding nations.
 
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