Discover Sponsors $25,000 Award to Support Next Wave of Fintech Leaders
November 21 2019 - 3:39PM
Business Wire
Discover to mentor University of Chicago
students as part of Polsky Center for Entrepreneurship and
Innovation competition
Discover and the Polsky Center for Entrepreneurship and
Innovation at the University of Chicago have announced that
Discover will sponsor a $25,000 prize as part of the 2019-20 Edward
L. Kaplan ’71, New Venture Challenge (NVC).
The financial prize will be awarded to one fintech startup that
is a finalist of the NVC, a year-long, intensive business launch
competition. The NVC is a top university accelerator program in the
country that provides early-stage ventures access to funding,
mentorship, networking and education.
The funding is part of Discover’s commitment to supporting
Chicago entrepreneurs and partnering with organizations that
embrace technology to improve the banking and payments experience
for customers. Over the next several months, Discover employees
also will mentor University of Chicago students and alumni who
create fintech startups that compete in the NVC.
“Fintech companies bring innovation and generate transformative
ideas, and we are increasingly working with these companies to
design products and services that provide a faster, seamless and
secure experience for our customers,” said Carlos Minetti,
president of consumer banking at Discover. “Supporting the New
Venture Challenge is another way we continue to invest in the
Chicago business community and the next generation of fintech
leaders so we can collectively move our industry forward.”
Minetti, an MBA graduate of the University of Chicago’s Booth
School of Business, announced the prize at a panel for University
of Chicago students and alumni for a discussion on how to build a
fintech venture and the importance of partnerships to innovate and
scale in financial services on November 20.
To date, the NVC has accelerated more than 330 startups that
have raised more than $1 billion in capital and achieved more than
$7.5 billion in mergers and investor returns. The competition
culminates June 4, 2020 at the Innovation Showcase, where the
$25,000 prize will be awarded.
“It’s great to have the opportunity to partner with industry
leaders like Discover in supporting the next stage of fintech
growth within UChicago’s leading entrepreneurial ecosystem,” said
E.J. Reedy, senior director at the Polsky Center for
Entrepreneurship and Innovation.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
equity loans, checking and savings accounts and certificates of
deposit through its direct banking business. It operates the
Discover Global Network comprised of Discover Network, with
millions of merchant and cash access locations; PULSE, one of the
nation's leading ATM/debit networks; and Diners Club International,
a global payments network with acceptance around the world. For
more information, visit www.discover.com/company.
About The Polsky Center
The Polsky Center for Entrepreneurship and Innovation drives the
creation of new businesses and partnerships at the University of
Chicago and across the world. As the leading expert in venture
creation and the dedicated resource for UChicago’s global
community, the Polsky Center advances the knowledge and practice of
entrepreneurship and accelerates the path to market for
groundbreaking ideas. Through education, resources, and programs,
the Polsky Center commercializes discoveries, partners with
companies, and attracts venture capital. By igniting a spirit of
innovation and fostering connections that extend across the
University, city, region and world, the Polsky Center enables more
ideas to have a meaningful impact on society. Learn more at
polsky.uchicago.edu.
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version on businesswire.com: https://www.businesswire.com/news/home/20191121005989/en/
Jennifer Delgado, 224-405-1484 jenniferdelgado@discover.com
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