All information provided by the FinTech companies as part of the application is treated with the utmost confidentiality and used exclusively in the evaluation of the individual companies.
Each jury member nominates 10-20 start-ups with the aim of actively contributing the jurors’ wealth of experience and market insight. At the same time, an external application process takes place, in which all appropriate start-ups can submit an online application form. In recent years, 150-200 start-ups have been submitted to the jury for evaluation – with an upward trend.
The jury evaluates this longlist according to numerous criteria of intrinsic value. Among other things, the business model, competitive and market environment, financial plan and management are taken into account. Each jury member nominates a first, second and third place winner for each prize category. Voting is carried out neutrally according to the criteria mentioned in a secret ballot. The winners are determined after reviewing all evaluations.
Careful aggregation of the individual scores
For this purpose, a total number of points will be determined for each startup, based on the entries of the jurors in the categories or sectors. If there is a tie in the total number of points, the number of votes of the jurors per startup will be used as a further criterion. If there is also a tie, the jury will decide together according to the overall impression.
Reliable management of conflicts of interest
In order to avoid a conflict of interest, all jurors are obliged to disclose their own current, historical or intended shareholdings or partnerships internally if they concern nominated or applying start-ups. All results of the jury work remain within the jury and the FTGA organisation.
Insights during open jury meetings
The jury will meet in public at the Financial Centre Day 2020 on 4 March 2020 in Frankfurt. Selected start-ups that have applied or been nominated presented themselves and answered the jury’s questions. The event was open to the public on Financial Centre Day to take a look behind the scenes of the FinTech and InsurTech scene.