Ignazio Visco, Governor of the Bank of Italy
Daniele Franco, Italy's Minister of Economy and Finance
Benoît Cœuré, Head of the BIS Innovation Hub
Andrew McCormack, Head of the BIS Innovation Hub Singapore Centre
Alessandra Perrazzelli, Deputy Governor, Bank of Italy
Angela Barbaro, Head of Communications, Bank of Italy
Under the Italian G20 Presidency, Banca d'Italia and the Bank for International Settlements (BIS) Innovation Hub have launched the international G20 TechSprint 2021 competition to highlight the potential of new technologies to resolve some of the most pressing challenges in green and sustainable finance. It is designed to attract the international community of innovators, start-up creators, developers, data scientists and designers.
Banca d'Italia and the BIS Innovation Hub, together with submissions from G20 finance ministries and central banks, have identified three high-priority operational problems:
- Data collection, verification, and sharing
- Analysis and assessment of transition and physical climate-related risks
- Better connecting projects and investors
The total prize money comes to €360,000: each of the three winning teams will receive a cash prize of €50,000, while the 21 shortlisted teams will receive a competition prize of €10,000 regardless of their team's size.
There are two rounds of evaluation.
- From 6 May to 31 May, teams may register and submit their proposals for one or more of the three challenges. A green finance consultancy firm appointed by the BIS Innovation Hub will review and shortlist up to seven teams for each of the three challenges to go through to the second round. The shortlisted teams will be announced on 14 June and invited to showcase their work in August during a closed-door workshop to get feedback from invited experts.
- From 14 June to 1 September, the 21 shortlisted teams may develop and submit their solutions and prototypes to be assessed by a panel of expert judges appointed by Banca d'Italia.
The winning teams will be announced in mid-October.
For more information, please visit www.techsprint2021.it.