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The ADGM Innovation Challenge 2020 focuses on solutions to promote financing for small and medium enterprises (SMEs), and the adoption of RegTech, bringing together emerging FinTech talent from across the world to address real challenges championed by UAE corporates and government agencies (Corporate Champions).
This year's Innovation Challenge calls for the development of proof of concept (PoC) solutions to promote financing for SMEs which are an instrumental stakeholder in the UAE’s plans for economic transformation and diversification.
However, the FinTech Abu Dhabi Innovation Challenge doesn't just aim to present potential solutions to real problems. It seeks to solve them. In taking part in the Innovation Challenge, startups will have the opportunity to enter into long-term relationships with the Corporate Champions and will be invited to set up their base on Abu Dhabi's Al Maryah Island.
The Central Bank of the UAE (CBUAE) and Abu Dhabi Global Market (ADGM) are pleased to announce the winners of the fourth annual FinTech Abu Dhabi Innovation Challenge, one of the flagship initiatives of the FinTech Abu Dhabi event. Following a five-month highly competitive selection process, seven firms were selected from a total of 189 applications. Their solutions demonstrate innovative ideas to address the pain points of the financial service sector and focus on initiatives to promote financing for small and medium enterprises (SMEs), the digitalisation of financial services, and RegTech solutions.