Strong industry support for ADGM's global quest for Fintech InnovationADGM China Office 04/08/2019
FinTech Abu Dhabi reaches China this week, in the cities of Shenzhen and Beijing
Abu Dhabi Global Market (ADGM), the award-winning International Financial Centre in Abu Dhabi, is in Shenzhen (China’s tech megacity) on 5 August and Beijing (China’s capital silicon valley) on 7 August as part of its FinTech global tour to recruit innovative FinTech start-ups to showcase their solutions at MEASA’s (Middle East, Africa and South Asia) leading FinTech Abu Dhabi Festival 2019 (FinTech Abu Dhabi).
Strategically located along the Belt and Road corridor, Abu Dhabi, as the capital of the United Arab Emirates (UAE), is a natural link between the fast growing economies of China and the MEASA regions. ADGM is committed to enhancing the cross-border connectivity and collaboration opportunities between the economies of China and the UAE, particularly in the area of FinTech.
As part of the FinTech Abu Dhabi global tour, the Shenzhen and Beijing roadshows include pitching sessions, networking with the local Chinese FinTech ecosystem – including startups, venture capital firms and investors, financial institutions, technology companies and government officials – to discuss ways that ADGM can support their business activities and plans. This leg of the tour in China has added significance given that one of the key themes of FinTech Abu Dhabi this year is to highlight ADGM as the Belt and Road FinTech Hub, where there will be a dedicated “Belt and Road segment” for Chinese institutions, start-ups and investors to connect with the FinTech, investment and financial community in the MEASA region.
The FinTech Abu Dhabi global tour, which commenced in July, will run through to September 2019 in various cities across the world, with the objective of setting up an inclusive platform for more global participants to be part of ADGM’s FinTech ecosystem. Through the tour, ADGM will recruit the top 50 FinTech startups and talent (FinTech 50) to help solve the challenges affecting Abu Dhabi and the region.
Mr Richard Teng, CEO, Financial Services Regulatory Authority of ADGM, commented: “We are excited to have our FinTech Abu Dhabi roadshow in Shenzhen and Beijing, meeting emerging innovators and startups across the globe and connecting them to FinTech Abu Dhabi and the growth opportunities in the Middle East. Our roadshows are well-timed in view of our recent new partnerships with key Chinese institutions on multiple sectors including technology, FinTech, financial services and energy.
As part of our commitment to the Belt-and-Road initiative, ADGM has been working closely with major economic hubs in China, and assisting Chinese companies including those in the FinTech space to expand in new markets. We look forward to meeting the Chinese FinTech ecosystem and welcoming them to FinTech Abu Dhabi and explore new business opportunities in Abu Dhabi and the wider Middle East region.”
ADGM is hosting its 3rd edition of FinTech Abu Dhabi from 21 – 23 October 2019 at the Abu Dhabi National Exhibition Centre (ADNEC), and aims to bring together 5,000 participants from the region and globally who are pioneering the new wave of innovation across financial services. Structured around the key tracks of Innovation, Investment Deal-Making, Belt and Road FinTech Hub, and Enterprise and Talent Development, the event will immerse participants in the MEASA FinTech ecosystem, providing them with an opportunity to collaborate, partner and network, enhance product offerings with innovative FinTech solutions, and share real use-cases and exchange knowledge.
The first pitch winners of the FinTech 50 who will showcase their solution at FinTech Abu Dhabi in October
The first leg of the FinTech Abu Dhabi roadshows took place in Singapore, London and Kigali, Rwanda, where innovative FinTech startups competed and pitched their solutions. The winning FinTech startups at these locations are:
- Singapore winner: Deepscope – an artificial intelligence and machine learning tool that analyses the entire stock market to deliver quality stocks for investors, brokers and funds.
- London winner: StepLadder – a collaborative digital savings tool that allows member users to save as a group towards their property deposit.
- Kigali winner: Save – a digital platform that financially empowers collective savings groups by providing access to credit as well as investments.
FinTech Abu Dhabi’s next stops will be in Central Asia.
ADGM established its China representative office in May 2018 and has established strong partnerships with major Chinese regulators and institutions including the People’s Bank of China (PBOC), China Banking and Insurance Regulatory Commission (CBIRC), China Securities Regulatory Commission (CSRC), the Jiangsu Provincial Government, the Hainan Provincial Government, the Authority of Qianhai, National Development and Reform Commission (NDRC), Beijing Municipal Bureau of Local Financial Regulation, China National Nuclear Corporation (CNNC), China Everbright Group, OneConnect Financial Technology to name a few.
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