The projects can be submitted to Milano Hub by three different categories of aspiring participant, Italian or foreign. Within Milano Hub there is a dedicated area of operations for each one:
- Fintech Hub: non-bank/financial undertakings (e.g. technology solution providers) or combinations thereof;
- Innovation Hub: banking, financial and insurance intermediaries or combinations thereof;
- Research & Development Hub: universities, research institutes, other bodies or combinations thereof.
A maximum of 10 projects will be eligible for support from the HUB.
The necessary condition for the admission of the projects submitted to the evaluation procedure shall be the fulfillment of the following requirements:
- Subjective, relating to the nature and integrity of the proposers, to be attested through a self-certification;
- Objective, concerning the project's relevance to the sectors of interest of the hub (banking, financial, and insurance) and the relevance to the types of support offered under the initiative.
The proposed design initiative must not be marketed in any way.
The evaluation of the projects will be based on two main dimensions:
- «Value», which includes the criteria of system relevance and scalability, completeness, sustainability and innovative content;
- «Viability» which includes the criteria of feasibility, measurability and security.
The weighting of the two dimensions, "Value" and "Viability," and the individual evaluation criteria will be weighed differently under the specificity of the area of operation in which the project will be developed.
Applications may be submitted from 3 p.m. CEST on 27 September and no later than 3 p.m. CEST on 29 October 2021. It will be dedicated to the following theme: The contribution of artificial intelligence in improving the provision of banking, financial, and payment services to businesses, households, and public administration, with particular regard to profiles of financial inclusion, effective consumer protection, and data security.
The project selection phase will be carried out by an evaluation panel.
The support phase for each project within the Hub will have a maximum duration of six months, depending on its characteristics and complexity of implementation.
For more information on access criteria and how to participate in each of the three areas of operation of the Hub (Fintech, Innovation, and Research & Development), please refer to the Rules of the Call for Proposals 2021. For further requests for clarification, please check firstname.lastname@example.org.