The Advanced Technology Development Center at Georgia Tech is hosting its second-ever FinTech Hack @ ATDC competition from Feb. 10 through Feb. 12.

The competition is sponsored by Atlanta-based Worldpay US — the global payments technology and services company and creator of ATDC’s FinTech Program — and Columbus, Georgia-based TSYS — a leading global payment solutions provider. (REGISTER HERE)

Participating teams will compete for cash, gadgets, and professional-services prizes valued at approximately $100,000. The grand prize winning team will receive a prize package valued at approximately $79,000, which includes $12,000 cash.

A program of the Georgia Institute of Technology, ATDC is the state’s technology incubator. This year’s theme centers on the Internet of Things, specifically, wearable financial technology. The competition is designed to bring together entrepreneurs, developers, designers, and innovators who thrive on tackling challenges, solving problems, and working in teams to create the next big disruptive FinTech idea.

“Georgia is the nation’s payments processing capital, and we have a deep pool of talented people who have innovative ideas,” said Michelangelo Ho, ATDC’s FinTech catalyst and head of the incubator’s FinTech Program. “Bringing them together in this competition and in partnership with two FinTech industry leaders, Worldpay US and TSYS, will create an environment for some truly dynamic ideation and potentially innovative startups.”

The competition, which will be held at the Centergy building in Atlanta Technology Square, is an extension of ATDC’s FinTech Program, which was launched in 2015 via a $1 million gift and executive mentorship from Worldpay US to Georgia Tech. The idea behind the initiative is to foster high-tech innovation and to attract and retain talent in Georgia and its “Transaction Alley,” which processes more than 70 percent of all U.S. payment transactions.

“Enabling payments disruptors to disrupt has always been at the core of our values as a business and the ATDC FinTech Program, and the hackathon is a unique opportunity for developers to experience firsthand the breadth, depth, and simplicity of our single integration technology,” said Worldpay US Vice President of Innovation and Design Joe Kleinwaechter. “Worldpay could not be more excited to return to the FinTech Hack as a sponsor, and we’re sure the Internet of Things solutions this year’s competitors create will be boldly breakthrough.”

The team winning the grand prize will receive the critical post-hack engagement, mentoring, and support from the ATDC, Worldpay US, TSYS and others to create, build, and launch viable startup companies.

Participants will decide which ideas to tackle using sponsors’ APIs. They can work on their own projects or work on challenges presented to them by the hackathon sponsors.

“We’re thrilled to support the ATDC as a sponsor of the FinTech Hack. We believe our platform will align perfectly with the kind of unique thinking and innovation we’ll see over the course of the weekend,” said Scott Carter, TSYS’ group executive of Digital Innovation. “At TSYS, we put people at the center of payments and look forward to connecting with like-minded industry peers.”

ATDC will post updates and more information in the coming weeks on ATDC.org, Facebook, and Twitter, but here are some key dates to remember:

• Jan. 27: Challenges announced

• Feb. 8:  API video tutorials released

• Feb. 10-12: FinTech Hack @ ATDC