The EY Startup Challenge, a six-week mentorship-driven program, returns with a targeted focus on blockchain solutions for two high-impact sectors: digital rights management in media and entertainment, and energy trading.
This year’s EY Startup Challenge will emphasize the development of blockchain-based prototypes. EY is seeking startups that are ready to apply distributed ledger technologies to real-world problems and explore use cases they may not have previously considered.
For media and entertainment, EY is particularly interested in blockchain solutions that enable recording and tracking of content rights as material is created and incorporated into works. Ideal proposals will let creators and rights holders register ownership, track how content is used, and manage permissions so users only access content they are entitled to view or use. EY also wants solutions that streamline payments and royalties, allowing rights owners to receive compensation automatically and transparently when proprietary content is consumed.
In the energy trading sector, EY is looking for blockchain platforms that simplify and bring transparency to the trading lifecycle. Targeted submissions should reduce operational complexity, speed up trade execution and settlement, lower costs, and mitigate counterparty and settlement risks. Solutions that transform trade creation, lifecycle management, and settlement processes to make the market more efficient are of particular interest.
“We are very excited to be holding a third EY Startup Challenge in London after two successful programs here and one in Berlin,” said Jamie Qiu, Founder and Lead of the EY Startup Challenge.
“This time, we are looking for startups using blockchain that have a beta product launched, have some seed funding, and are looking for access to clients and customers in order to continue to grow and develop. If you are one of these startups, we would love to hear from you.”
Applications to the EY Startup Challenge are now open, with a submission deadline of August 14. EY will select six startups to participate in an innovation hub in London in early September. Selected teams will receive mentorship, attend educational workshops, and work to refine and build their solutions. The program concludes with a demo day on October 20, when teams will present the prototypes they have developed.
As one of the largest professional services firms globally, EY has been actively engaged with the blockchain startup ecosystem. Recently in France, EY sponsored two blockchain-focused challenges at the Viva Technology summit in Paris. Those challenges sought solutions to automate verification and certification of financial statements and to certify contractual information directly between parties for use by tax lawyers.