The RBC Next Great Innovator Challenge™ is a unique opportunity that affords Canadian university and college students the chance to influence the future of the financial services industry in Canada.

Our past challenges have been a huge success. Over the past three years over 500 teams have registered from universities and colleges across Canada. Over the previous three years RBC has brought the top five teams, over 50 students, to Toronto on an all-expenses paid trip for the final round of judging, two days of first-class treatment and the chance to compete for $45,000 in prize money.

The finalists have met some of the top minds at RBC: great innovators who are so impressed with the ideas generated by the Challengers that they are implementing some of them right now.

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What do my students need to know?

The RBC Next Great Innovator Challenge is a chance for teams of three to four students from universities and colleges across Canada to come up with innovative solutions for one of Canada's top financial services institutions.

• Submissions† can be a maximum of 2,500 words and must conform to the submission template .
• The top five teams will travel to Toronto to present in front of a panel of judges consisting of top RBC executives.
• Five prizes will be awarded to the finalists ranging from $20,000 - $5,000.
• Students can view complete details, register and submit entries via the competition website: www.nextgreatinnovator.com

What's in it for my students?

• Five significant cash prizes to be awarded: 1st prize: $20,000; 2nd prize: $10,000; 3 runner up prizes: $5,000 each.
• A very prestigious award with national exposure - a great addition to any resume!
• The opportunity for finalists to meet and present to top RBC executives.
• Potential for a career in Financial Services with RBC Royal Bank.
• An exciting, relevant and unforgettable real-world experience which helps students better prepare for the workforce.

What's in it for professors?

• Receive RBC support by including the RBC Next Great Innovator Challenge in your course program.
• Opportunity to present students with a real world problem to tackle and the chance to have their soltuion implemented by RBC Royal Bank.
• Special award of recognition for the top entry from your class, including presentation by an RBC representative.

What makes a good entry?

• A balanced submission - A well thought out plan will address the problem definition, solution, and implementation. Considerations for discussion are how well do you define the problem, how well you address cultural or technological challenges that exist in implementation, and how clearly have you explained the value created by your innovation?
• Excellent communication skills - presentation and written.
• Allow adequate time for proper planning and preparation of their submission.

What else should students pay attention to?

• The Innovator Blog is a great source of advice and guidance on the Challenge, innovation principles, ongoing news and announcements.
• The innovation Centre provides tools and resources to help innovate for our Challenge and that apply in other future innovation endeavours.
• Carefully review the final Challenge question and thought starters when they are made available.
• Print out and review the submission template

This year RBC also introduced the RBC Innovation Mini Challenge - an opportunity for teams of post-secondary students to collaborate and show their innovation skills by helping to solve a real-life problem for a chance to win $1,000.

The RBC Innovation Mini Challenge registration and submission phase is now closed, but encourage your students to participate in the Next Great Innovator Challenge.

Specific questions? E-mail nextgreatinnovator@rbc.com

† All submissions become the property of Royal Bank of Canada.

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