Digital Commerce Bank announced that it has executed a Memorandum of Understanding with Platform Calgary with respect to an initiative to launch an annual $1.0 million Fintech Award in Calgary (the “Fintech Award” or the “Award”). Through the partnership, the Bank will be the title sponsor of the Fintech Award, and together with Platform Calgary will aim to accelerate the growth of fintech startups and transform Calgary into a global hub for fintech innovation.
“Digital Commerce Bank’s head office is in Calgary, and we believe Calgary offers businesses, employees and shareholders advantages that are beneficial, and this initiative will showcase Calgary’s unique opportunities.”
The Award is intended to provide a non-dilutive award of cash and additional services to startups working in fintech ($500,000 to the top applicant, and $250,000 each to the second and third runners up.) DCBank is leading the Award with a financial commitment of $1M over four years, and along with Platform Calgary are currently working to engage additional financial contributors and other partners to develop a world-class Fintech Award program for Calgary.
“We are excited to launch this innovative, non-dilutive annual fintech award together with Platform Calgary”, said Jeffrey Smith, the Bank’s President & CEO. “Digital Commerce Bank’s head office is in Calgary, and we believe Calgary offers businesses, employees and shareholders advantages that are beneficial, and this initiative will showcase Calgary’s unique opportunities.”
Set to start the application process in Q1 of 2022, the Award will also include opportunities for mentoring, programming and discounted services for participants.
“Platform Calgary is laser focused on making Calgary a global hub for startups and innovation. Collaboration is at the core of how we work, and this visionary partnership with Digital Commerce Bank promises to be a game changer for both our city and the trajectory of the award winners. Digital Commerce Bank and the team have shown that they know how to build high growth businesses right here in Calgary, and we couldn’t be happier to help them pay it forward.”
Platform Calgary
Platform Calgary brings together the resources of Calgary’s tech startup ecosystem to help startups and Innovators launch and grow. Through collaboration with partners, targeted programming, and a purpose-built home for innovators, Platform Calgary is the hub for tech-led economic diversification and job creation in the Calgary market.
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Digital Commerce Bank
Digital Commerce Bank is a Schedule 1 Canadian Bank focused on technology and delivering robust and secure payment technologies. The Bank’s technology-driven platform provides innovative payment and banking solutions to its corporate clients, enabling businesses to offer their own financial and payment solutions. The Bank’s proprietary banking-as-a-service and payment solutions, as well as straightforward APIs, offer clients efficiency, flexibility, and convenience when it comes to integrating services directly to a business’ product. The Bank is a member of Payments Canada, and is a principle member of Interac, Visa and MasterCard.
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