Citi and The Financial Times Launch Global Ingenuity Awards to Recognize Emerging Leaders Transforming Cities for the Future

Citi, the Financial Times and INSEAD to highlight innovative urban solutions in education, energy, healthcare and infrastructure

General News

New York – Citi and The Financial Times (FT) announced the launch of the FT/Citi Ingenuity Awards: Urban Ideas in Action, a global program to recognize individuals who have developed groundbreaking solutions to urban challenges that benefit cities, citizens and urban communities in the fields of education, energy, healthcare and infrastructure.

More than half the world's population lives in cities today, a number that is expected to rise in the decades ahead. As a result, cities have a pressing need to address the challenges of urbanization and find solutions that modernize infrastructure, improve efficiency, enhance quality of life and foster sustainable growth and development. This global program was developed to recognize emerging leaders whose solutions are helping cities realize a better, faster, more efficient future.

"Every day, Citi applies its expertise to meet challenges in cities across 100 countries," said Citi CEO Vikram Pandit. "Our 200th anniversary coincides with the rising importance of cities, and we are excited to recognize the passionate individuals whose ideas are fueling growth and economic progress in these urban centers."

With its global footprint, Citi has a unique perspective on the complexities of the urban environment. Through Citi for Cities and other initiatives, Citi works with clients and partners around the world in both the public and private sectors to enhance public services, facilitate commerce, expand financial inclusion and harness advancements in digital, mobile and card technologies.

To recognize emerging leaders transforming urban centers, Citi, in partnership with The Financial Times, has engaged INSEAD, one of the world's leading and largest graduate business schools with a focus on innovation leadership, to develop award criteria and methodology.

"We are pleased to join with Citi to honor the individuals bringing innovations to market that address the needs of accelerating urbanization," said Ben Hughes, Global Commercial Director and Deputy CEO, Financial Times. "In the face of significant challenges, many individuals and organizations around the world have shown creativity, resourcefulness and ambition in pursuing inspired solutions. We will recognize the best of them in our magazines, online reports, conferences and awards."

"New challenges require new thinking," said Bruno Lanvin, executive director, INSEAD eLab. "We are proud to work with Citi on this timely global platform recognizing the brightest minds solving urban challenges in cities all over the world."

Award Process

Submissions for the FT/Citi Ingenuity Awards will be accepted online from November 17, 2011 through March 26, 2012. All entries will be reviewed by The FT and INSEAD for qualification. A panel of global subject matter experts will select finalists and winners.

Finalists will be announced in a series of magazines published by The FT in 2012 and invited to attend regional conferences that will be held throughout 2012 to further dialogue on urban challenges and solutions with key industry leaders. Category winners and a global winner will be announced at an awards dinner in November 2012. The application form, eligibility criteria and additional program details can be found at www.ft.com/ingenuity.

Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.

Citi for Cities

Citi for Cities is an initiative that harnesses the best of Citi across the globe to enable cities to become more efficient, by providing financing that facilitates commerce and modernization, and by empowering citizens to access services that enhance liveability and prosperity. Citi aims to help cities achieve their ambitions across the key ecosystems that power a city including administration, roads and transit, ports of entry, energy and utilities, workplace and education, health and safety and regeneration and development. Citi's span of engagement with cities includes public and private sector, the financial sector and citizens and the communities in which they live. For more information, please visit www.citiforcities.com.