Abu Dhabi Global Market (ADGM) has once again teamed up with Plug and Play to kick off their second FinTech accelerator and innovation program. The Middle East-focused program enjoys the support of a number of corporate partners including BNP Paribas, Fianblr Group, Boubyan Bank, Riyad Bank, and First Abu Dhabi Bank (FAB).
All these companies are part of Plug and Plays’ global ecosystem. For those not in the loop, Plug and Play happens to be the largest global innovation platform in the world. Whereas, Abu Dhabi-based ADGM is the leading international financial center in the country.
Nine FinTech startups have been shortlisted for the ADGM-Plug and Play accelerator and innovation program. It’s a three-month-long program that will enable the companies to collaborate with leading financial institutions. If all goes well, these startups stand a chance to execute POC or pilot projects with support from these financial services heavyweights.
Omeed Mehrinfar, Managing Partner, EMEA at Plug and Play, explained: “After the tremendous success of our first FinTech accelerator batch last year, we are incredibly excited and motivated to continue bringing value to the financial services sector in the GCC. The local and international startups participating in this upcoming batch will continue to provide value to key financial institutions in the region, and we look forward to cultivating impactful engagements with our corporate partners.”
What’s even better is that participation in the program is totally free for all nine startups and they will continue to be a part of the ecosystem after graduating.
The nine startups include API Fortress, Cygnetise, Cyr3con, IDNow, Labiba, Merit Incentives, Silot, Narrativa, and Token.