ADGM and KPMG launch FinTech Abu Dhabi Innovation Challenge

Abu Dhabi Global Market (ADGM) and KPMG have come together to launch the first ever FinTech Abu Dhabi Innovation Challenge on Oct. 22. in Abu Dhabi. The program aims 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 Oct. 22 and 23, includes an intensive five-week program, which will allow innovative and mature start-ups 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.
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 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) program. They will also win a $15,000 cash stipend to cover any costs associated with travel matters and/or accommodation.
Wai Lum Kwok, executive director (capital markets), Financial Services Regulatory Authority of ADGM, said: “We are excited to team up with KPMG in developing and organizing the FinTech Abu Dhabi Innovation Challenge. This is a great opportunity for fintech start-ups to interact with the brightest minds in the industry to leverage the guidance and mentorship of industry experts to come up with solutions to address and solve some of the sector’s challenges and pain-points.”
Umair Hameed, partner, financial services, KPMG in the lower Gulf said: “Together with ADGM, KPMG will use the combined strength of our renowned financial services sector insight and our global network of expertise to help prepare and equip mature start-ups for the competitive business environment ahead of them.”