Are you RBC's next great innovator?



    Annual challenge asks university students to look at the future of the
    Canadian financial services industry

    TORONTO, Sept. 20 /CNW/ - RBC today announced the call for entries for
the second annual RBC Next Great Innovator Challenge(TM). The winner will be
announced in February 2008 and the top teams will compete for more than
$45,000 in total prizes.
    This year's challenge asks university and college students from across
Canada to "describe an innovation, idea or concept that Canadian financial
institutions should consider to make it easier for clients to do business with
us."
    "Innovation is fundamental to everything we do at RBC and the challenge
is a great source of new ideas coming directly from students who will help
shape our future," said Dr. Anita Sands, head, Innovation and Process Design
at RBC. "We listened to what students told us last year, and we are in the
process of implementing two of the winning ideas."
    RBC's peer-to-peer (p2p) information exchange site - www.rbcp2p.com - is
a new initiative based on an idea from last year's challenge. Last year more
than 269 teams registered for the challenge from 45 universities across
Canada.
    The challenge also leverages several web 2.0 and social media tools to
keep students engaged and up to date. "This year we're implementing our
version of 'Innovation Idol' - where students will vote for their favourite
idea to be one of our team finalists," said Sands. "We're also sending
students text alert reminders for major milestones; a Google Mashup feature to
track team submissions linked to user team profile pages; an avatar innovator
quiz; and an innovator blog for advice and guidance on the challenge."
    Working in teams of three or four, students must submit a unique and
innovative idea related to the challenge. Teams must register their intention
to submit a proposal online before October 22, 2007. All completed proposals
must be submitted by November 23, 2007.
    Submissions will be evaluated by the RBC Applied Innovation team and
narrowed down to the top 15 submissions. These 15 submissions will then be
reviewed by the RBC Innovation Council and the top four submissions will be
chosen. The council will also select five additional submissions for the peer
voting selection process. A short synopsis of each entry that is eligible for
peer voting will be posted on www.nextgreatinnovator.com and the entry
receiving the most votes in the voting period will be chosen as the fifth
finalist in January 2008.
    The top five teams will be brought to Toronto for final evaluation by the
RBC Next Great Innovator judging panel consisting of some of RBC's top
executives. The final evaluations and awards ceremony will take place on
February 22, 2008 in Toronto. For more information on the challenge, visit
www.nextgreatinnovator.com.





For further information:

For further information: Amanda Csumrik, RBC Media Relations, (416)
974-8260, amanda.csumrik@rbc.com


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