Qatar FinTech Hub to host ‘Hackathon’ to support innovative solutions

By Amirtha P S, Desk Reporter
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Qatar FinTech Hub (QFTH), co-founded by Qatar Development Bank (QDB) to help the growth of the fintech industry in Qatar, is launching the second edition of ‘Hackathon’, under the theme “Disrupting the Global Fintech Ecosystem using Emerging Technologies.”

The Hackathon open to all entrepreneurs and fintech firms across the world intends to find solutions that can address three main challenges including supporting financial institutions to increase revenue and efficiency, reduce cost and risk and enhance the customer experience.

The event will choose three successful innovative ideas that will be given quick access to Wave 2 of QFTH’s flagship Incubator Programme, a platform offering a wide range of support to fintech firms and entrepreneurs who look for expansion opportunities within Qatar as well as global markets. The second edition of incubator and accelerator programs will focus on emerging technologies for financial services.

The winners of Hackathon will receive support to turn their ideas into reality and accelerate their business as they play a key role in revolutionizing the fintech industry in Qatar and beyond.

The QFTH incubator and accelerator programs serve the fintech entrepreneurs and startups across the globe who are looking for a launchpad in the Middle East to boost their growth.

The participating fintech firms will get access to financial and in-kind support of up to $250,000 along with support for registration and license fee waiver, and assistance in setting up their business in Qatar while being referred to Qatar Central Bank’s Sandbox.

The enrolled fintech firms will get the opportunity to attend a series of high-level masterclasses conducted by QFTH by partnering with global mentors from over 12 countries and renowned speakers from across the world, in addition to a range of Proof of Concept (PoC) and collaboration opportunities with over 10 local financial institutions, payment networks and technology partners.

QFTH targets to develop the fintech industry in Qatar following the Qatar National Fintech Strategy created by Qatar Central Bank to position the country as a leading international fintech hub in the region, as outlined in Qatar’s National Vision 2030.

In line with its commitment to provide world-class expertise to participating fintech firms, QFTH is continuously collaborating with strategic stakeholders within the fintech ecosystem. For the second edition of Hackathon, Microsoft will be joining as a program technology partner and other recent partnerships include Amazon, Progress Soft, Vodafone, and Global Positioning System, among others.