Pressenyheder

Denmark issues ‘Nordic Data Sandbox Challenge’ to the Fintech world

Competition seeks global entrants to the ‘Nordic Fintech hub’ Challenge in partnership with Copenhagen Fintech

Copenhagen Sep 20th 2019: The Danish Business Authority, in collaboration with Copenhagen Fintech, are calling for global entrants to the Data Sandbox challenge which runs through September 2019. A series of videos promoting the challenge featuring start-ups from the region will be used to promote the competition.

Famed for its critical thinking and public-private investment in new technology, the Nordic region represents 15% of scaleups within European Fintech (larger than Germany with 13%) and 3 of the Top-10 cities by number of Fintech deals. (Source: Mohout, Omar. European Scale-up Report, Sirris 2018).

The Danish Government, via the Danish Business Authority, has its sights set on making Copenhagen the de-facto Fintech capital for the region.

We believe that co-creation is fundamental for better and more innovative solutions that can contribute to making Denmark more competitive and sustainable in the future. Our ambition is to create results that are seen and felt locally, regionally and nationally.

Simon Schou, Chief Innovation Consultant, Copenhagen Fintech

Copenhagen Fintech is a publicly funded body that has a lab (Copenhagen Fintech Lab) which serves as an incubator, accelerator and advocate for the region’s Fintech ambitions. The yearly held Copenhagen Fintech Week is credited as one of the largest in Northern Europe, targeting a global audience.

About the Data Sandbox Challenge

  • A series of videos featuring international start-ups based in Denmark will be used to promote the competition.
  • Entrants are welcome globally via the web site Challenges.dk until September 30th, 2019
  • The Nordic Data Sandbox is an open call for business ideas utilizing standardized bookkeeping data, publicly available data sources and potential integrations designed to support the delivery of novel and innovative solutions targeting the SME segment in the Nordics.
  • Five startups – with cash prizes of DKK 10.000 for the selected participants – will be invited to the Copenhagen Fintech Lab. Here, Copenhagen Fintech, the Danish Business Authority, Nordic Smart Government, Nordic API Gateway, and major Nordic banks, will provide a week of hands-on, technical sparring and business development support.
  • The sandbox concludes with a final presentation of ideas in front of a jury of market experts hosted by the Danish Business Authority. The cash prize of DKK 40.000 for the winning team.
  • Documented on GitHub, this sandbox environment not only shows the future API reference implementation for sharing bookkeeping data (based on business transaction documents), but also contains a full set of test data – invoices for sales and purchases, bank statements, and other core documents that in total constitute a realistic test case end-user company.
  • The challenge and the sandbox offer access and mentoring from the Nordic API Gateway. The Nordic API Gateway offers access to data from all banks in the Nordics and covers both B2B and B2C accounts through one simple API integration.
  • Anyone may enter the sandbox challenge; the cash prizes are available to any organisation with a CVR number (or those seeking one after winning the competition).

ENDS

Note to editors

  • Thomas Krogh Jensen, CEO of Copenhagen Fintech can be heard in a short video talking about the organization he represents here: