Selected start-ups will receive guidance and mentoring to help address some of the most pressing fintech challenges.
Fintech start-ups can apply today for the Global Fintech Hackcelerator program, powered by KPMG in Singapore's Digital Village and KPMG's Matchi fintech matchmaking platform. Finals of the program will be held at the Singapore Fintech Festival taking place from 12 -16 November 2018.
Visit here to apply for the 2018 Global Fintech Hackcelerator - deadline for applications is 15 June 2018.
Start-ups from all over the world entering the Global Fintech Hackcelerator will demonstrate how they can innovate to address critical fintech challenges in areas including financial inclusion, insurtech and reg tech/sup tech.
Up to 20 start-ups will be shortlisted and matched with industry champions and business sponsors for mentoring and guidance, with 12 weeks to develop their ideas into market-ready solutions, in time for the Singapore festival. These start-ups will have the opportunity to leverage insights and guidance from professionals with KPMG in Singapore as well as other subject matter experts, while building relationships with a community of passionate game changers in the fintech eco-system. The shortlisted start-ups will also each receive a cash stipend of up to SGD 20,000.
The shortlisted start-ups will pitch their solutions on the “Demo Day” of the Singapore Fintech Festival to a judging panel representing a cross-section of the financial industry. Solutions will be judged on their relevance to the problem statement, innovativeness, business potential, and the team's ability to execute.
The top three start-ups that emerge from Demo Day will each receive a cash prize of SGD 50,000.
The Singapore Fintech Festival, organized by the Monetary Authority of Singapore (MAS), is a platform for key stakeholders of the global and regional fintech community to connect, learn from one another and co-create new solutions to real problems. It is the largest fintech event and fintech platform in the world, attracting more than 30,000 participants, decision makers and investors from 109 countries in 2017.
Mr. Jan Reinmueller, Head of Digital Village, KPMG in Singapore says, “We are delighted to partner with the MAS for the second consecutive year to launch the Global Fintech Hackcelerator as one of the highlights of the Singapore Fintech Festival. The Hackcelerator enables innovative start-ups to showcase their solutions for significant fintech challenges in one of the top industry forums. It is also an opportunity for start-ups to tap into the global expertise of KPMG fintech professionals to super-charge their growth trajectory, and to use Singapore, a global fintech capital, as their launch pad to market-validate their ideas and gain market entry into Asia Pacific.”
Mr. David Milligan, CEO of Matchi - part of KPMG International adds, “KPMG in Singapore, through its Digital Village and KPMG's global Matchi platform, will offer the selected start-ups a range of potential support that can include product development, proof-of-concept and commercialization as well as potential fund raising after the competition. We are committed to help start-ups and financial institutions find and deploy fintech solutions that are most relevant to their business needs. This means helping to empower promising start-ups and enabling greater financial inclusion which ultimately benefits all consumers and businesses globally.”
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KPMG in Singapore is part of the KPMG global network of professional services firms providing Audit, Tax and Advisory services. In the ASEAN region, KPMG member firms operate across all 10 countries. Our industry focus helps KPMG firms' professionals develop a rich understanding of clients' businesses and the insight, skills and resources required to address industry-specific issues and opportunities.
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KPMG Digital Village is a collaborative innovation ecosystem consisting of corporates, investors, start-ups, educational institutes and experienced mentors from KPMG and industry alliances. It aims to match the needs of corporates and investors with the supply of innovation from the likes of start-ups and research and development (R&D) houses.
Matchi, acquired by KPMG International in 2017, is a global fintech innovation match-making firm. Matchi has worked with over 100 leading banks and insurance companies around the world, and has a database of over 2,500 fintech firms with 700+ curated solutions. Matchi provides both a searchable, highly-detailed portal of fintech solutions, as well as bespoke projects for financial institution (FI) clients to source targeted fintech solutions aimed at the FI focus areas / pain points. The global Matchi team has run Fintech Challenges and Market Scans for multiple FIs around the world, in markets as diverse as Africa, Japan, Canada, Mauritius and India, as well as searches in more recognised fintech regions.