Applications are open for this year’s cohort of the Launch Innovation Programme. The programme gives startups the opportunity to run proof of concepts, attend master classes, workshop solutions facing their startups and refine their ideas. At the end of the programme startups will have the opportunity to pitch their ideas to various sponsors and stakeholders.

The innovation programme is run by FinTech Scotland, a community for fintech businesses in Scotland working with over 200 fintechs and 15 universities. It is also run with the help of Lloyds, an Edinburgh based banking group.

This year’s event is focused on finding startups to address what they believe are four key challenges facing the fintech industry.

The first is developing customer centric financial programs and services that are personalized for each user. The second challenge goes in tandem with the first, by harnessing data analytics to improve user experience and customer relationships.

The next challenge is creating an organization and products that promote diversity and inclusion, such as promoting accessibility for users with disabilities and making the workplace more welcoming to customers and workers from diverse backgrounds.

The last core challenge is to make choices that promote the sustainability of the industry, by ways such as reducing environmental impact, and using renewable energy sources for IT systems and reducing energy consumption.

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As to not turn away any candidates with otherwise ground breaking ideas, the innovation programme is also opening a wildcard challenge aimed at startups whose proposals do not fit into the four key challenges presented above.

Applications for the innovation programme opened today, 7th of March, and will stay open until the 21st of April. The programme itself will take place between the 15th of May and the 4th of August. The event will actively target, welcome, and support applications from women and businesses founded by people of Black, Asian, and minority ethnic heritage.