QFTH announces Wave 2 of flagship Incubator, Accelerator Programs

Doha: Qatar FinTech Hub (QFTH), co-founded by Qatar Improvement Financial institution (QDB) and established to help the expansion of the FinTech business in Qatar, has introduced the ultimate checklist of profitable FinTechs to hitch Wave 2 of its Incubator and Accelerator Applications. Each Applications began on March 24 and can run till June 2021.

QFTH obtained greater than 500 functions from early stage and mature FinTechs from over 58 international locations, together with USA, India, Singapore, Nigeria, Russia, Hong Kong, UK, Turkey, and Qatar. 

The functions went by means of a rigorous and multilevel analysis course of, the place over 40 FinTechs had been shortlisted to current their options through digital pitch days judged by a panel of representatives from QFTH stakeholders and strategic companions. Out of the 40 Fintechs, the highest 22 had been chosen and invited to take part within the Incubator and Accelerator Applications. 

Chosen FinTechs lined a wide range of know-how options similar to Synthetic Intelligence (AI), Machine Studying (ML), Blockchain, Robotic Course of Automation (RPA), Close to Discipline Communication (NFC), Pure Language Processing (NLP), Optical Character Recognition (OCR), and different FinTech options.

Eleven early stage FinTechs had been additionally chosen to hitch Wave 2 of the Incubator Program together with Snoonu Buying and selling and Providers in addition to Karty from Qatar, Cammillion from Singapore, ePaysa from India, Digitalistic from Bangladesh, Akillifon from Turkey, CHANGE COM from Jordan, Kwidex from Ghana, Nu Credit in addition to Bondsmart and Finstant from the UK.

The 11 mature FinTechs chosen for Wave 2 of the Accelerator Program are Prive T from Hong Kong, Lively.AI in addition to Finchat from Singapore, eBaoTech from China, SafexPay from India, Twyla Expertise from Qatar, FinChatBot from South Africa, Cargon from Georgia, Make investments Suite from Belgium, Elite Capital, and Revix from the UK. 

Abdulaziz bin Nasser Al Khalifa, Chief Government Officer of QDB and Fintech Activity Power Chairman, stated: “I wish to congratulate all of the FinTech startups whose management in innovation has enabled them to hitch our flagship applications. This marks the start of their journey in direction of reshaping the way forward for monetary know-how in Qatar and past, and we’re assured they are going to assist us in constructing strong pillars for a knowledge-based economic system in Qatar.”

He added: “The Qatar FinTech Incubator and Accelerator Applications proceed to draw entrepreneurs from around the globe, establishing Qatar as a most popular vacation spot for FinTechs seeking to set up a base within the area”. 

For a interval of 12 weeks, Wave 2 will supply taking part FinTechs a singular incubation and acceleration journey with all of the important help required to ascertain their companies regionally and to develop regionally and internationally.

Every taking part FinTech will obtain monetary and in-kind help of as much as $250,000, along with bespoke mentoring and coaching providers supplied by QFTH, its strategic companions and mentor community of over 36 worldwide and native mentors.

Upon the completion of the applications, eligible FinTechs can be referred to Qatar Central Financial institution’s Sandbox, the place they are going to obtain help on licensing wants in Qatar, along with benefiting from a price waiver on registration. Licensing alternatives from Qatar Monetary Middle in addition to the chance to collaborate with over 16 native monetary establishments and regulators, and a variety of enterprise growth and funding alternatives on a world scale may even be out there to taking part FinTechs.

On account of COVID-19 precautions and restrictions, Wave 2 of each the Incubator and Accelerator Applications can be carried out nearly. The applications will culminate with a Demo Day in June, the place representatives from every of the taking part FinTechs will showcase their improvements to QFTH companions, business influencers and potential buyers.

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