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GLOBAL FINTECH HACKCELERATOR 2022
We are excited to announce the launch of the MAS Global FinTech Hackcelerator 2022, a highly anticipated innovation challenge organized annually by Monetary Authority of Singapore (MAS), powered by Oliver Wyman. This year, we are looking for innovative solutions on two key topics (1) Web 3.0 and (2) Green Finance.
This Hackcelerator is a great opportunity for FinTech companies to gain access to some of the fastest growing markets in Singapore and the region. Through the Hackcelerator, we want to provide additional support to promising FinTechs, who have the right solutions to drive a green and sustainable financial industry.
With the theme “Accelerating a Greener Digital Future”, the Hackcelerator is looking for solution providers with market-ready ideas that can address industry-sourced problem statements.
Applications for MAS Global FinTech Hackcelerator 2022 are now open till 26 June 2022!
For more information, please visit this website.
About the Global FinTech Hackcelerator
In its 7th edition, the Monetary Authority of Singapore (MAS) Global FinTech Hackcelerator, powered by Oliver Wyman, seeks to unlock the potential of FinTech in accelerating the development of Web 3.0 and Green Finance solutions.
A total of 57 problem statements have been submitted by global financial institutions and corporates this year, categorized around the two pillars:
Web 3.0
- Embed Blockchain Tech: Explore areas that will help overcome scalability and implementation challenges
- Expand DeFi: Explore problems around identification and development of real-world use cases
Green Finance
- Monitor Commitment: Enhance Investor and Financial Institution ease of monitoring sustainability commitments from issuers
- Measure Impact: Improve ability to measure impact of loans and investments against their stated sustainability goals
The Global FinTech Hackcelerator is open to all solution provider with a market-ready product that can address any of the published problem statements.
View the problem statements here.
BENEFITS OF PARTICIPATING
Finalists will receive a S$20,000 cash stipend, free access to APIX, a cloud-based sandbox environment for rapid prototyping, mentorship by industry experts, access to potential clients and investments, and the opportunity to present their solutions to a panel of judges and global audience at Demo Day at this year’s Singapore FinTech Festival.
The top 3 winners will walk away with cash prizes worth S$50,000 each, and the chance to conduct a Proof-of-Concept with a Singapore-based Financial Institution with up to S$200,000 from MAS’ Financial Sector Technology and Innovation (FSTI) Proof-of-Concept (POC) grant.
Check out the winners from 2021’s Global FinTech Hackcelerator here.
HACKCELERATOR PROCESS
Applications are open till June 26, 2022.
Step 1: Submit your application (May 27 – June 26, 2022)
Register for an account on the APIX platform and submit your proposal, telling us how your solution can solve the selected problem statement.
Step 2: Finalists shortlisted (July – August 2022)
Up to 20 finalists will be selected by a panel of industry experts. The finalists will be announced in August.
Step 3: Hackcelerator Program (August 22 – October 28, 2022)
Shortlisted finalists will join a series of workshops and be assigned a Corporate Champion throughout the ~10 week Hackcelerator program, who will provide mentorship and guidance to refine their solution. Finalists will also utilize cloud prototyping platform APIX to conceptualize and refine prototypes and solutions.
Step 4: Demo Day Presentation @ Singapore FinTech Festival (November 2, 2022)
Finalists will present their solutions to a panel of judges and a global audience on Demo Day @ Singapore FinTech Festival. The top 3 winners will be announced, and each team walks away with a S$50,000 cash prize.
Post-hackcelerator
All finalists can be fast-tracked to receive up to S$200,000 from MAS’ FSTI Proof-of-Concept grant to participate in a POC with their Corporate Champion or other suitable financial institutions. There will be a chance for commercial development and actual adoption of solutions into a client context.
For any further queries, please reach out to us at gfh2022@oliverwyman.com or fintech_office@mas.gov.sg.
For more information on the Hackcelerator, click here.
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