LendIt, the largest show in lending and fintech, has announced its collaboration with global venture capital fund 500 Startups for LendIt’s global competition for fintech startups ‘PitchIt’ that will take place on March 6-7, 2017 in New York.

The winners of the global fintech competition will receive mentorship, endorsement, and exposure from leading institutions, investors & press.

“This partnership will nurture emerging talent throughout the competition and provide selected finalists with unparalleled access to industry expertise as well as invaluable exposure at one of the world’s leading fintech and marketplace lending events,” LendIt’s blog post stated.

The competition is expected to see hundreds of applicants competing for a prestigious spot in the finals and get a chance to present on the keynote stage amidst high-ranking executives from the fintech industry. Each year, the competition attracts investors, asset managers, funds, and entrepreneurs, bringing together a community of influencers in the lending marketplace, Finextra reported.

"PitchIt gives startups with fresh, important new ideas a valuable chance to build and grow their firms. Even as the fintech industry matures, we are seeing exciting areas of breakout opportunities which we look forward to discussing and experiencing at LendIt USA 2017. We are honored to partner with 500 Startups, a brand synonymous with global innovation and the startup culture, to grow PitchIt and help fuel innovation in fintech,” Jason Jones, co-founder of LendIt stated.

In order to apply for LendIt, the competing companies must be a fintech focused firm having two or more full-time co-founders/employees, must have less than three years in the business and should have raised less than $4 million since its launch date. The firms must have a professional business website and those who are registering on behalf of a specific company must have an email with that company's domain.

The shortlisted companies will get coaching from 500 Startups as well as industry leaders and other mentors, before the event. Eight selected finalists will receive a free all-access pass to attend the entire LendIt USA conference, up to $1,000 for travel to PitchIt, and a 50% discount Startup Zone booths, as reported by Finextra. The overall final winner of PitchIt will receive a bronze level sponsorship to future LendIt events, promotion and media support.

“LendIt has a proven track-record of bringing together thought leaders and decision makers from across financial services and fintech ecosystems. We are thrilled to be working with Lendit's extraordinary team, partners and sponsors on the PitchIt program to highlight startups from around the world who are poised to transform the financial services industry,” Sheel Mohnot, General Partner of 500 FinTech said.