Fintech startups and innovators belonging to the Middle East, Africa and South Asia (MEASA) region: here’s you chance to hone your solutions, and also get recognized on a global stage while doing so. Abu Dhabi Global Market (ADGM) and KPMG are organizing the FinTech Abu Dhabi Innovation Challenge, a five-week program to help startups scale tech solutions for the financial services industry. According to a statement, the challenge, which concludes with a demo day on October 22, 2017 in Abu Dhabi, aims to help startups “conceptualize and present market-ready solutions that can address real business challenges identified in the financial services industry” in the MEASA region.
Opening the program to both individuals and startups with a “working prototype and go-to-market strategy,” the challenge aims to pick 10 finalist teams across six focus areas of financial and investment management, financial inclusion, regulatory technology, trade finance, insurtech, and private capital markets. Subsequently, at the final event in Abu Dhabi, the selected teams will showcase their solutions at the Fintech Demo Day to a panel of industry experts, post which two winners will be picked and given the opportunity to demonstrate their solutions at the upcoming Global Fintech Hackcelerator on November 2017 in Singapore.
The Innovation Challenge is a part of the two-day FinTech Abu Dhabi event taking place on October 22-23, 2017 in Abu Dhabi, which will include a summit, demo day, and presentation of fintech awards, among other sessions. Besides global recognition, organizers say the selected finalist teams stand to benefit from mentoring sessions, business opportunities in the MEASA financial services sector, access to guidance and support from industry leaders, and “fast-tracked consideration" for admission to ADGM’s Regulatory Laboratory program. They will also be entitled to a “US$15,000 cash stipend” to cover travel and accommodation costs, says the statement.
Submissions of applications to the challenge are already open, and will be accepted till August 25, 2017. Hurry, and apply here.