The RBC Next Great Innovator Challenge is now open and gives university and college students across the country the opportunity to propose an innovation that will help Canadians plan their financial future at any life stage. The finalists will be awarded cash prizes and an opportunity to interview with an RBC recruiter.
Now in its sixth year, the RBC Next Great Innovator Challenge is Canada’s leading student innovation contest. Open to all post secondary students across the country, the contest has garnered over 800 entries from schools nationwide and has awarded $260,000 in prize money.
For the first time, students from the final five teams will also be given the chance to have an interview with an RBC recruiter. Cash prizes will be awarded as follows: $20,000 to the winning team, $10,000 to the second place team, and $5,000 to the three runner-up teams. Finalists also receive an all-expense paid trip to Toronto for the opportunity to meet with and present their ideas to a judging panel that includes senior RBC executives.
Many ideas generated by competing students over the last five years have been tested and refined in the RBC Applied Innovation Lab, and some have been directly integrated into the business. All ideas provide RBC with insight into emerging themes and trends such as the aging population, the workforce of the future and the use of technology.
Entries will be evaluated by the RBC Applied Innovation team and narrowed down to the top 15 submissions. Teams must submit their proposals by December 4, 2011. These entries will then be reviewed by a panel of RBC executives and the top five submissions will be chosen as finalists. The final evaluations and awards ceremony will take place in February 2012 in Toronto.