In conjunction with the FinTech Abu Dhabi Festival 2019,  Abu Dhabi Global Markets (ADGM) announced that they will be launching their inaugural “FinTech 50” and the 3rd edition of their “Innovation Challenge”

Up to 12 finalists from the Fintech 50 will be selected by a global judging industry panel to demo their solutions on the main stage at FinTech Abu Dhabi 2019.

These finalists will have the opportunity to be matched with financial institutions and corporates in the UAE to develop Proofs-of-Concepts that can be deployed in Abu Dhabi and the wider UAE.

Two of these finalists will be selected to represent the Middle East at the 2019 Singapore FinTech Festival’s Global FinTech Hackcelerator competition.

Whereas ADGM Innovation Challenge poses a set of FinTech problem statements that represent the various challenges that financial institutions, corporates and consumers face in the United Arab Emirates (UAE) and the wider Middle East, Africa & South Asia (MEASA) region.

Applications to the Innovation Challenge are now open until 23 September 2019. Selected FinTech applicants will be invited to Abu Dhabi to showcase their solutions to potential business partners and delegates during FinTech Abu Dhabi 2019 from 21 – 23 October 2019.

FinTech start-ups and scale-ups with innovative and market-ready solutions to these problem statements, and who want to expand into MEASA, are invited to apply to the Innovation Challenge and be part of the wider FinTech community.

Mr Richard Teng, CEO, Financial Services Regulatory Authority of ADGM, commented:

 

“We are excited to launch FinTech 50 and the 3rd FinTech Abu Dhabi Innovation Challenge to discover more FinTech firms and provide them with the opportunity and platform to spread their wings.