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- Tasks: Join the Future Payments Challenge to innovate SME trade finance solutions.
- Company: Digital Trust Centre of Excellence, supporting startups and SMEs.
- Benefits: Up to £50K funding, access to top research, and expert incubation support.
- Why this job: Make a real difference by tackling the cash flow crisis for UK SMEs.
- Qualifications: Startups and early-stage SMEs at TRL 3-4 focused on B2B solutions.
- Other info: Exciting opportunity with a funded development phase and workshops.
The predicted salary is between 36000 - 60000 £ per year.
Late payments cost UK SMEs £22k/year and contribute to 50,000 closures annually. To tackle this, the Digital Trust Centre of Excellence is looking for startups that will solve the SME cash flow crisis with their Future Payments Challenge. Start-ups and early-stage SMEs are invited to apply for the Challenge which offers tailored support and up to £50K incubation funding – to build a unified digital procurement-to-pay service using future payment technologies.
WHAT’S ON OFFER
- Up to £50K funding
- Access world-class research via Edinburgh, Glasgow & Napier University
- Incubation programme to refine your product with industry experts
WHO SHOULD APPLY
Startups and early-stage SMEs at TRL 3-4 building solutions that streamline B2B procurement, automate payments, accelerate settlement. You should be committed to advance your solution to TRL 5 through a funded 3-month Development Phase.
TIMELINE
- Application window open: 17 Feb – 15 March
- In-person workshops in Edinburgh: late April – early May
- Final pitch in Edinburgh: late May – early June
- Funded development: June – Sept
Closes 15th March – find out more and register here.
Future Payments Innovation Challenge: Digitising SME Trade Finance employer: ScotlandIS
Contact Detail:
ScotlandIS Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Future Payments Innovation Challenge: Digitising SME Trade Finance
✨Tip Number 1
Get to know the challenge inside out! Research the Future Payments Innovation Challenge and understand what they’re looking for. This will help us tailor our pitch and show how our solution can tackle the SME cash flow crisis.
✨Tip Number 2
Network like a pro! Attend any workshops or events related to the challenge. Meeting industry experts and other startups can provide valuable insights and connections that might just give us the edge we need.
✨Tip Number 3
Practice makes perfect! We should rehearse our pitch multiple times, focusing on clarity and confidence. The more comfortable we are with our presentation, the better we’ll engage the judges and showcase our solution.
✨Tip Number 4
Don’t forget to apply through our website! It’s the easiest way to ensure our application is seen. Plus, we can keep track of any updates or additional resources that might pop up during the application period.
We think you need these skills to ace Future Payments Innovation Challenge: Digitising SME Trade Finance
Some tips for your application 🫡
Know Your Stuff: Before you start writing, make sure you fully understand the challenge and what we're looking for. Dive into the details of the Future Payments Innovation Challenge and think about how your solution can tackle the SME cash flow crisis.
Be Clear and Concise: When you're putting your application together, keep it straightforward. We want to see your ideas clearly laid out, so avoid jargon and get straight to the point. Remember, less is often more!
Show Your Passion: Let us feel your enthusiasm! Share why you're excited about this challenge and how your startup can make a difference. A bit of personality goes a long way in making your application stand out.
Apply Through Our Website: Don't forget to submit your application through our website! It's the easiest way for us to receive your details and ensures you're following the right process. Plus, we can't wait to see what you've got!
How to prepare for a job interview at ScotlandIS
✨Know Your Numbers
Understand the financial impact of late payments on SMEs, as highlighted in the job description. Be ready to discuss how your solution can specifically address this £22k/year loss and contribute to reducing SME closures.
✨Showcase Your Innovation
Prepare to explain how your startup's technology can streamline B2B procurement and automate payments. Use clear examples of how your solution advances from TRL 3-4 to TRL 5, demonstrating your commitment to the development phase.
✨Engage with Industry Experts
Familiarise yourself with the research and insights from Edinburgh, Glasgow & Napier University. Mention any relevant findings or trends that support your approach during the interview to show you’re well-informed and engaged.
✨Practice Your Pitch
Since there’s a final pitch involved, rehearse your presentation skills. Focus on clarity and conciseness, ensuring you can effectively communicate your vision and the unique value of your solution within the time constraints.