Abu Dhabi Global Market (ADGM) and KPMG have come together to launch the first ever FinTech Abu Dhabi Innovation Challenge on Oct. 22. in Abu Dhabi. The program aims to enable start-ups to access industry-leading solutions that may help entities address emerging business challenges in the financial services industry.
The Innovation Challenge, as part of the inaugural FinTech Abu Dhabi event on Oct. 22 and 23, includes an intensive five-week program, which will allow innovative and mature start-ups to conceptualize and present market-ready solutions that can address real business challenges identified in the financial services industry in the Middle East, Africa and South Asia (MEASA) region.
During the program, 10 finalist teams will work on developing solutions to specific problem statements, divided into six focus areas: Financial and Investment Management, Financial Inclusion, RegTech, Trade Finance, InsurTech and Private Capital Markets.
The finalists will showcase their solutions at the FinTech Demo Day in Abu Dhabi to a panel of industry experts. Each finalist will benefit from a number of different sessions, including start-up initiation and mentoring sessions, opportunities to enter or expand into the MEASA financial services sector and join adoption programs and collaborative ecosystems in the MEASA region, access to guidance and support from industry leaders, subject-matter experts and regulatory authorities, and fast-tracked consideration for admission to ADGM’s Regulatory Laboratory (RegLab) program. They will also win a $15,000 cash stipend to cover any costs associated with travel matters and/or accommodation.
Wai Lum Kwok, executive director (capital markets), Financial Services Regulatory Authority of ADGM, said: “We are excited to team up with KPMG in developing and organizing the FinTech Abu Dhabi Innovation Challenge. This is a great opportunity for fintech start-ups to interact with the brightest minds in the industry to leverage the guidance and mentorship of industry experts to come up with solutions to address and solve some of the sector’s challenges and pain-points.”
Umair Hameed, partner, financial services, KPMG in the lower Gulf said: “Together with ADGM, KPMG will use the combined strength of our renowned financial services sector insight and our global network of expertise to help prepare and equip mature start-ups for the competitive business environment ahead of them.”
ADGM and KPMG launch FinTech Abu Dhabi Innovation Challenge
ADGM and KPMG launch FinTech Abu Dhabi Innovation Challenge
German Minister of Economy and Energy visits Juffali Industrial Business Park in KAEC
Juffali recently welcomed German Federal Minister of Economy and Energy Katherina Reiche, during an official visit to the Juffali Industrial Business Park in King Abdullah Economic City, in the presence of Khaled Juffali, chairman of Juffali, and senior executives. The visit, on Feb. 2, marks a significant milestone in strengthening Saudi–German industrial cooperation.
Covering a total land area of 400,000 square meters, the business park serves as a strategic platform for advanced manufacturing and industrial localization in the Kingdom. The visit highlighted key joint industrial projects developed in collaboration with leading global partners, reflecting a shared commitment to long-term investment, technology transfer, and local value creation.
The official program included welcoming remarks and ceremonial milestones, during which Liebherr laid the foundation stone for its factory, while Juffali Industrial Products Company and National Automobile Industry placed the cornerstone for their manufacturing facility, symbolizing the advancement of two flagship industrial projects within the business park.
The Juffali Industrial Products Company and National Automobile Industry facility will have an annual production capacity of 6,000 trucks, while Liebherr’s plant is designed to produce up to 1,000 concrete mixers annually. Both facilities will operate with 100 percent local assembly and manufacturing in Saudi Arabia, reinforcing the Kingdom’s localization agenda and supporting the development of national industrial capabilities.
These projects represent a significant addition to Saudi Arabia’s industrial ecosystem and align closely with the objectives of Saudi Vision 2030, supporting sustainable industrial growth, job creation, and high-value manufacturing.
Khaled Juffali reaffirmed Juffali’s commitment to expanding international partnerships and contributing to the Kingdom’s economic diversification through long-term industrial collaboration with leading global partners, further strengthening KAEC’s position as a regional hub for advanced manufacturing.
