· Mature start-ups from across the globe invited to demonstrate solutions to real business challenges
· Applicants stand the chance to compete for the chance to receive global recognition and prize money
06 August 2017, Abu Dhabi, UAE: Abu Dhabi Global Market (ADGM) and KPMG have come together to launch thefirst ever FinTech Abu Dhabi Innovation Challenge on 22 October 2017 in Abu Dhabi to enable start-ups to access industry-leading solutions that may help entities address emerging business challenges in the financial services industry.
The Innovation Challenge, as part of the inaugural FinTech Abu Dhabi event on 22 and 23 October 2017, includes anintensive five week program, which will allow innovative and mature start-ups to conceptualise and present market-ready solutions that can address real business challenges identified in the financial services industry in the Middle East,Africa and South Asia (MEASA) region.
During the programme, 10 finalist teams will work on developing solutions to specific problem statements, dividedinto six focus areas: Financial and Investment Management, Financial Inclusion, RegTech, Trade Finance, InsurTech andPrivate Capital Markets.
The finalists will showcase their solutions at the FinTech Demo Day in Abu Dhabi to a panel of industry experts. Eachfinalist will benefit from a number of different sessions, including start-up initiation and mentoring sessions, opportunitiesto enter or expand into the MEASA financial services sector and join adoption programs and collaborative ecosystems inthe MEASA region, access to guidance and support from industry leaders, subject-matter experts and regulatoryauthorities, and fast-tracked consideration for admission to ADGM’s Regulatory Laboratory (RegLab) programme. Theywill also win a US$15,000 cash stipend to cover any costs associated with travel matters and/or accommodation.
Mr Wai Lum Kwok, Executive Director (Capital Markets), Financial Services Regulatory Authority of ADGM, commented:“We are excited to team up with KPMG in developing and organising the FinTech Abu Dhabi Innovation Challenge. Thisis a great opportunity for FinTech start-ups to interact with the brightest minds in the industry to leverage the guidanceand mentorship of industry experts to come up with solutions to address and solve some of the sector’s challenges andpain-points. As part of ADGM’s FinTech collaboration with the Monetary Authority of Singapore, the winners will be ableto participate in the Singapore Hackcelerator event to demonstrate their innovative solutions.
As an International Financial Centre and leading FinTech Hub, ADGM will continue to keep its finger-on-the-pulse, listening to and anticipating the needs of our market, working closely with our FinTech bridges and partners, and maintainingan open and conducive ecosystem that is relevant today, and builds the economy of tomorrow.”
Mr Umair Hameed, Partner, Financial Services, KPMG in the Lower Gulf said: “The FinTech Abu Dhabi InnovationChallenge is truly a progressive initiative for the industry, and KPMG along with ADGM is very pleased to be able to lendits support and assist emerging start-ups in the region to achieve their objectives. The industry has a responsibility tosupport and encourage innovation, especially across start-ups in the UAE in line with the UAE Vision 2021 which aims to transform the country into a diversified, knowledge-based economy.
“Together with ADGM, KPMG will use the combined strength of our renowned Financial Services sector insight and ourglobal network of expertise to help prepare and equip mature start-ups for the competitive business environment aheadof them.”
Individuals and mature start-ups with a working prototype and go-to-market strategy are encouraged to apply tothe FinTech Abu Dhabi Innovation Challenge via https://matchi.biz/Abudhabifin
Two Innovation Challenge winners will be announced on 22 October 2017. These winners will have the opportunity todemonstrate their solutions at the upcoming Global FinTech Hackcelerator in Singapore.
The FinTech Abu Dhabi event is a platform for financial institutions, FinTech start-ups and participants, investors,regulatory agencies and the business community to network, collaborate and exchange knowledge in FinTechdevelopments in Abu Dhabi, the wider MEASA region and on an international level. The event will include a Summit,Innovation Challenge, Demo Day, and FinTech Awards presentation.
About FinTech Abu Dhabi Innovation Challenge
Apply now to the FinTech Abu Dhabi Innovation Challenge if you are a start-up with a mature solution and want to expandinto the Middle East, Africa & South Asia (MEASA) region. To register for the Innovation Challenge, please go tohttps://matchi.biz/Abudhabifin
