Zurich Insurance Group (Zurich) has launched a global contest to spot "promising startups from around the world.
Zurich has launched the second edition of its global ‘Zurich Innovation Championship', offering startups from around the world the opportunity to work with the global insurer to grow their business.
In its second year, the global contest is looking for established startups with "commercially viable technologies and innovative business models", the company said in a statement. The startups could be from any sector, but those that tackle challenges around climate, health, automation and other issues expected to put a strain on the next generation are encouraged.
"The competition is part of our mission to help customers become more sustainable and resilient, while fostering the growth of startups that bring innovative new approaches to that work," said Giovanni Giuliani, group head of strategy, innovation and business development, Zurich.
The championship was announced by Giuliani at InsurTech Connect in Las Vegas. Applications are open until Dec. 17, 2019. Each of Zurich's participating country businesses will select one startup and develop a use case together over a five-month period. The field will then be narrowed to eight for the final round in August 2020. Three winners will have the chance to work with Zurich on a local pilot with the goal to scale it globally.
The Middle East startup ecosystem is growing rapidly as more and more talented entrepreneurs come on board. Our ‘Zurich Innovation Championship' tournament is a perfect platform for such startups to showcase their expertise and innovative ideas to the world," said Walter Jopp, CEO of Zurich Middle East.
Zurich's inaugural Innovation Championship in 2018-2019 received more than 450 entries from 49 countries.
Additional information on the Zurich Innovation Championship is available at: www.zurich.com/ZIC.