By Entrepreneur Middle East Staff / Entrepreneur ME
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.