Three Canadian startups — OpenSports, Dibbzz, and Navi — have won a total of $50,000 for pitching how they can integrate Interac’s e-Transfer third-party API into their platforms to streamline the process of requesting and receiving money.
The companies, selected from a group of eight startups at a Collision Day challenge at Communitech last week, will now work with Interac, which will help them create “easier and faster payment experiences for their customers.”
“It is always exciting to bring together national brands with startups to explore strategic collaborations and partnerships,” said Steve Currie, vice-president of strategy at Communitech. “All eight startups had inspiring ideas, and we are pleased that the three winning teams will get a chance to work alongside Interac for up to a year to turn their ideas into something practical that can be tested and evaluated.”
“We are thrilled to provide the winners with an initial cash injection to help develop their prototypes.”
– Debbie Gamble.
OpenSports, an app that connects sports organizers and players with recreational sports opportunities, took home the first place prize of $25,000 for its pitch. Dibbzz, a seat upgrade service for performing arts centres, won the second place prize of $15,000. Its pitch included integrating the API with its text platform to provide existing ticket holders with move-up solutions.
Navi, an AI-powered platform for businesses to connect with their vendors, won the third place prize of $10,000 for its proposal to integrate with the API to allow businesses to instantly request and receive payments, and manage tasks in a data-driven dashboard.
Interac said it will work with the three startups over the next year to help them bring their innovative money transfer solutions to market.
“All teams presented innovative ideas for using the Interac e-Transfer platform to offer faster payment options,” said Debbie Gamble, vice-president of product and platform development at Interac and Acxsys Corporation. “We are thrilled to provide the winners with an initial cash injection to help develop their prototypes, perhaps more importantly, will work closely with them over the next year to help bring their solutions to market.”
