AWS Fintech Accelerator is an online and equity-free program bringing the best of Amazon’s infrastructure and partners network to support early-stage fintech startups developing their projects in world-leading fintech centers- the UK and Ireland.
ORGANIZATIONAL TERMS OF PARTICIPATION
1. The condition for the participation in the Accelerator is to submit a complete Application by filling in the Application Form correctly and confirming it by clicking the button “Submit” available in the “My applications” section on Participant’s Account. In case of a juvenile, the application can be submitted only by his/her statutory representative. Any consents described hereunder given by a statutory representative refer to the juvenile.
2. Applications can be submitted only electronically (online) via Registration to the Accelerator here. Startups will receive a confirmation of Participation in the Accelerator via email.
3. Filling in the Application Form and attaching needed documents require providing personal details which include name, surname, e-mail address and other details.
4. Submitting the Application for the participation in the Accelerator constitutes the acceptance of the Terms of Participation available on the website www.vestbee.com and the Participant’s commitment to follow them.
SELECTION PROCESS
1. Selection process consist of 3 stages:
a. Qualification for the Accelerator,
b. Identification of Projects that will graduate for AWS Fintech Accelerator.
c. Identification of Accelerator’s winners.
2. Organizer together with the Sponsor will check all Applications submitted before the Deadline for the completeness, correct formats and content is aligned to this Terms of Participation. Only positively verified applications can be selected to Accelerator.
3. Organizer, Sponsor together with the judges will select Projects accepted to Accelerator. Organizer will inform the Participants via email if they are selected.
4. To be taken into consideration for the Accelerator selection, Project must meet the following conditions: a. Is about any Fintech use case (Open & Embedded Finance, etc…). b. Implements real business scenarios and is an answer to real customer’s pains and needs. c. Was built on AWS cloud platform (or will be migrated to AWS during Acceleration Program).
5. The judges will use the following criteria for the assessment in the program selection process:
a. Innovation in chosen category – 0 – 10 pts.
b. Market Size – 0 – 10 pts.
c. Team – 0 – 10 pts.
d. Solving a big problem – 0 – 10 pts.
e. Existing traction – 0 – 10 pts.
f. Use of AWS services – 0 – 10 pts.
6. Jury (board of business and technology specialists) will use their own judgement to decide about the score in every category. Scoring for each category will be an average of all points given by Jury in this category divided per number of Jury participants assessed this category. Total score is a sum of all points in all categories. There is maximum 60 points possible to get in total.
7. Scoring definition for categories:
a. Innovation: is to check if there is something really innovative in the Solution.
b. Market Size: How big is total addressable market, and how big part of the market Project is able to take.
c. Team: Experience and knowledge of the people standing behind the Project.
d. Solving a big problem: if the solution is beneficial for the business sector in any area.
e. Existing traction: What milestones have Project accomplished so far and if the Project generates revenues.
f. AWS services usage: these criteria will be assessed by the Sponsor of the Accelerator. If the Solution will use any of the AWS Services it’s the opportunity to earn additional 10 points. Scale and purpose of the usage of these services will be a subject of assessment.
8. Top 50 scored Projects will graduate to the Acceleration Program.
9. 6 winners will be selected during Acceleration Program (1 per category).
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