Do you have a market-ready FinTech solution that addresses real challenges in the financial industry? Applications for the 2018 global fintech hackcelerator are now open.
For the second year running, KPMG Digital Village will be powering the Global Fintech Hackcelerator as part of the Singapore FinTech Festival. We are looking for the most innovative start-ups from across the globe who can address problem statements contributed by the global FinTech community and the financial services (FS) industry.
Start-ups are invited to apply for the programme and demonstrate how their solution can address industry pain points highlighted by their chosen problem statements. 20 teams will be selected for the 12 week hackcelerator programme, assigning a corporate champion to provide mentorship to help them customise their market- ready solutions into contextualised prototypes for industry adoption.
The Singapore FinTech Festival is the largest Financial Technology event in the world. Attracting more than 30,000 participants, decision makers and investors from 109 countries in 2017, the event is considered by the global FinTech community as the world’s largest platform for the global FinTech community, with Singapore thriving as an international hub at the forefront of FinTech innovation.
How does it work?
Step 1 (Application):
Submit your application before 15 June 2018. Shortlisted applicants may be contacted for further information, demos and pre-selection pitching sessions, after which up to 20 teams will be selected.
Step 2 (12-Week Virtual Programme, starting 28 August 2018):
The 20 successful start-ups will spend 12 weeks contextualising and enhancing their prototype/solution, with mentoring and guidance from industry champions and real FS business sponsors.
Step 3 (Demo Day, 12 November 2018):
At the end of the 12 weeks, start-ups will demo their solution on the main stage of the FinTech Conference at the Singapore FinTech Festival. The top 3 start-ups will receive additional cash prize of S$50,000 each.
Step 4 (Post-Hackcelerator):
Teams will work with industry champions to plan for actual adoption and integration of their solutions into a real client context.
What does the industry need?
The industry has spoken – 80 problem statements have been identified across three focus areas:
- Financial Inclusion: Solutions which empower consumers and businesses to gain access to financial services.
- InsurTech: Solutions to help the financial institutions transform and shape the future state of insurance.
- RegTech and SupTech: Solutions to ensure compliance of regulatory requirements, especially when financial institutions engage in corporate activities.
There is also a general category is for problem statements which do not fall into the 3 areas listed but do enable financial institutions to enhance customer experience or increase their efficiency.
Global FinTech Hackcelerator Benefits
- Contextualised for Impact – Real client owners looking for solutions contextualised for their specific needs.
- Cash Stipend – S$20,000 cash stipend for all 20 selected teams and additional cash prizes for the top 3.
- Mentorship – Business guidance and support from leaders in the industry.
- Development Infrastructure – Technology support for your solution.
- Network – Connect with the FinTech ecosystem.
- Adoption and Collaboration – Opportunity to join Corporate Adoption programmes and collaborative ecosystems (e.g. KPMG Digital Village)
Global FinTech Hackcelerator Eligibility
Apply if you are a start-up who…
- Has an innovative concept – Innovative solution that can address the problem statement
- Has a unique proposition – Distinct from existing solutions and utilises unique technology
- Shows business potential – Business model, customer experience and collaborative applicability to the industry
- Can demonstrate your ability to execute – Strong company track record, and technical ability and industry knowledge
How to Apply for Global FinTech Hackcelerator.
Applications are open till 15 June 2018.
The Global FinTech Hackcelerator 2018, powered by KPMG Digital Village, is looking for the most exciting and innovative start-ups from all over the world who can address problems faced by the financial industry.
For any enquiries, email [email protected]