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08.07.17

Abu Dhabi Launches its First Fintech Innovation Challenge for Startups

Abu Dhabi Global Market (ADGM) and KPMG are launching the first Fintech Abu Dhabi Innovation Challenge—a five-week program for “innovative and mature startups across the globe,” reports Banking Technology, Paybefore’s sister publication.

The companies will be able “to conceptualize 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,” say ADGM and KPMG.

The startups also stand a chance of winning $15,000 in prize money.

During the program, 10 finalist teams will work on developing solutions to specific problem statements, divided into six focus areas:

  • financial and investment management;
  • financial inclusion;
  • regtech;
  • trade finance;
  • insurtech;
  • private capital markets.

The winners of Fintech Abu Dhabi Innovation Challenge will be unveiled on Oct. 22, 2017.

As part of ADGM’s collaboration with the Monetary Authority of Singapore (MAS), the winners also will be able to participate in the Singapore Hackcelerator event.

Interested startups can apply through Aug. 25, 2017.

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Image Credits: Shutterstock/Chones

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