The Qatar FinTech Hub (QFTH), co-founded by Qatar Development Bank (QDB) has announced the final list of successful fintechs set to join Wave-1 of its incubator and accelerator programmes.
Both programmes are set to start on October 14 and will run until December 2020. In April 2020, QFTH unveiled its Wave-1 rigorous 12-week programmes designed to cater to both local and global fintech entrepreneurs and startups looking for a launch pad to boost their growth at an international level.
Following a thorough and multilevel evaluation process, the top 55 fintechs were invited to present their solutions via virtual pitch days. The shortlisted fintechs covered a variety of areas such as payment services, mobile payments, SME solutions, KYC solutions, B2B payments, IOT-based payments and digital wallets among others.
The virtual pitch days were judged by a panel of representatives from QFTH stakeholders and strategic partners.
The panel evaluations were based on solution strength and uniqueness, traction, team capabilities, and fitment and impact potential for Qatari market.
QDB CEO Abdulaziz bin Nasser al-Khalifa, who is also QFTH chairman, said:
“QFTH’s leading programmes are another tribute to QDB’s strategy in line with the Qatar National Vision 2030. The large number of quality applications from all over the world is a strong testament of the trust that QFTH has quickly gained with the fintech community worldwide.”
Each participating fintech will receive financial support, in addition to bespoke mentoring and training services.
Upon the completion of the programmes, eligible participants will also be referred to the QDB’s sandbox where they will receive support on licensing needs in Qatar, in addition to benefiting from a fee waiver on registration.
In addition to that, the startups will also receive the opportunity to collaborate with over 16 local financial institutions and regulators, and a range of business development opportunities on the global scale.
Due to COVID-19, Wave-1 of both the incubator and accelerator programmes will be conducted virtually. The programmes will culminate with a Demo Day in December, where representatives from each of the participating fintechs will showcase their innovations to QFTH partners, industry influencers, and potential investors.
The 11 selected early stage fintechs for the incubator programme are:
C Wallet (Qatar)
DaVinci Payments (Australia)
My Book (Qatar)
Pay Ring (Russia)
Remit Radar (UK)
The 13 selected mature fintechs for the accelerator programme are:
Manim Finance (Turkey)
MyCash Money (Singapore)
Oscar Business Hub (Canada)