ADGM Invites Startups For Its Annual FinTech Abu Dhabi Innovation Challenge
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Now in its second edition, Abu Dhabi Global Market (ADGM) and KPMG Lower Gulf Limited (KPMG LG) is launching the FinTech Abu Dhabi Innovation Challenge to further stimulate new solutions and ideas to the fintech industry. Noting the garnered interest from its inaugural event wherein it attracted more than 166 fintech startups from 39 countries, this year’s challenge will focus on “generating real case studies” in the use of fintech solutions across UAE institutions, including government entities and regulators.
The structure of the challenge is fairly straight-forward: UAE-based institutions, dubbed as Corporate Champions for the initiative, will partner up with ADGM to distinguish specific business problems that can be solved by fintech. ADGM and KPMG LG will roll out its invitation to local and global fintech entrepreneurs to apply for the opportunity to work with the companies, followed by a selection of applicants will be paired with companies to develop ready-for-adoption solutions. The final demo day will be held during the annual FinTech Abu Dhabi Summit (FinTech AD) on September 17, 2018 at Abu Dhabi, wherein the final product will be presented to an audience of fintech institutions and startups, among others.
Applications will gain the opportunity to set up their base and operations from ADGM’s Innovation Centre’s co-working space, as well as access to UAE’s fintech market by exhibiting their solutions during FinTech AD 2018. KPMG LG will also expand its operations of its Digital Village to the Middle East and will operate from ADGM’s Innovation Centre. The platform, initially established in Singapore, supports startups in transitioning to the next stage and equip corporate clients with its latest solutions.
For more information on the challenge, head to the website www.fintechabudhabi.com/about/innovation-challenge/info.