EQUIFAX IS COMMITTED TO ACCELERATING INNOVATION and fostering the development of data-driven solutions that help expand access to credit. Startups and software developers have the potential to harness data, analytics and technology to do just that, which is why Equifax is calling for such innovators to apply for its second annual Developer Challenge and Accelerate Program in partnership with 1871, a Chicago-based business incubator that supports early stage tech startups, growth stage tech leaders and corporate innovators.
Fostering solutions that support greater access to credit
Equifax analysis indicates that 91.5 million consumers have little-to-no credit history, which can make it difficult to achieve important life events, such as qualifying for a mortgage or opening a credit card. Building a more inclusive economy is important, and data-driven technology can help unlock new opportunities for consumers that otherwise would not have been available.
“Data, analytics and technology provide a powerful force in addressing some of the most pressing issues facing the world around us,” said Bryson Koehler, Chief Product, Data & Analytics and Technology Officer at Equifax.
Through the powerful suite of Equifax Cloud™-enabled Application Programming Interfaces (APIs), program participants will have simplified access to data assets and API products, enabling developers to easily explore and access technical documentation, create apps, experiment and innovate faster than ever before.
“Equifax is committed to accelerating innovation across the startup ecosystem and developing products to bring more consumers into the mainstream credit economy,” continued Koehler. “We look forward to working with the 2022 Equifax Accelerate program cohorts in building data-driven solutions that help tackle the challenges of consumer financial inclusion and small business access to capital.”
Helping open the door to transformative innovation
Together with 1871, Equifax equips program participants with the tools and guidance they need to help bring innovative solutions to life. In line with 1871’s commitment to building a more inclusive and diverse community to provide those who are underrepresented a pathway into technology and innovation leadership, 1871 exists to create the experiences and space innovators need while they build extraordinary businesses.
“In our data-driven world, it’s never been more important for businesses to have access to the technological resources and mentorship they need to thrive,” said Betsy Ziegler, CEO of 1871.
The top 50 2022 Equifax Accelerate entries will be accepted into a Design Sprint Challenge in August, where they will receive mentorship from both Equifax and 1871 subject matter experts to assist in the creation of prototype solutions. They will also compete for a chance to access the 12-week Product Studio, a custom accelerator program that culminates in a final product showcase.
“We’re proud to work side-by-side with our partner Equifax to continue to expand the Equifax Accelerate product studio, which empowers the innovators and leaders that are disrupting their industries with new and necessary solutions,” continued Ziegler.
Calling all U.S.-based startups and software developers to apply today
This year’s Design Sprint Challenge will be judged by Equifax executive leadership and a panel of experts, including Noah Schwartz, General Manager, AWS Data Exchange at Amazon Web Services (AWS); Amit Maheshwari, Senior Vice President, Business Development at Tekion Corp.; and Laura Ritz, Chief Operating Officer at numo, a PNC company.
Participants chosen by the panel of judges to participate in the Product Studio will receive unlimited access to all 1871 products and services, including dozens of workshops, 300+ mentors, and 400+ other tech founders from idea stage companies to series C+. They will also have an opportunity to present their prototype to an audience of leaders from Equifax, including digital and fintech partners, at the Product Showcase. Qualifying participants will also be eligible for up to $5,000 in AWS Activate credits, which can be applied to more than 200 AWS services.
The deadline to apply for Equifax Accelerate is 11:59 p.m. Eastern Time on July 28, 2022. Guidelines for the event can be found at Equifax.com. Applications are available at 1871.com.