Abu Dhabi Global Market (ADGM) and KPMG have come together to launch the first 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 servicesindustry.
The Innovation Challenge, as part of the inaugural FinTech Abu Dhabi event on 22and 23 October 2017, includes an intensive five week programme, which will allow 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, divided into six focus areas: Financial andInvestment Management, Financial Inclusion, RegTech, Trade Finance, InsurTech and Private Capital Markets.
The finalists will showcase their solutions at the FinTech Demo Day in Abu Dhabi to a panel of industry experts. Each finalist will benefit from a number of different sessions, including start-up initiation and mentoring sessions, opportunities to enter or expand into the MEASA financial services sector and join adoption programs and collaborative ecosystems in the MEASA region, access to guidance and support from industry leaders, subject-matter experts and regulatory authorities, and fast-tracked consideration for admission to ADGM’s Regulatory Laboratory (RegLab)programme. They will also win a US$15,000 cash stipend to cover any costs associated with travel matters and/or accommodation.
Individuals and mature start-ups with a working prototype and go-to-market strategy are encouraged to apply to the FinTech Abu DhabiInnovation Challenge via https://matchi.biz/Abudhabifintech. The call forsubmissions for the program is already open and submissions will beaccepted until 25 August 2017.
Two Innovation Challenge winners will be announced on 22 October 2017. These winners will have the opportunity to demonstrate their solutions at the upcomingGlobal FinTech Hackcelerator in Singapore.