Global FinTech Hackcelerator 2021 overview
Applications now closed.
Oliver Wyman is supporting the Monetary Authority of Singapore (MAS) in organizing the 6th edition of the Global FinTech Hackcelerator (GFH), which seeks to apply innovative market-ready solutions to address real industry needs.
This year’s focus is on Green Finance and accelerating Singapore’s growth as a Green Finance hub for the region. Industry leaders from across the world have submitted problem statements under the following categories:
- Category I: Mobilize capital: Improve access to capital for Green projects or solutions
- Category II: Monitor commitment: Enhance ease of monitoring commitments pledged to the development of green finance and sustainable projects
- Category III: Measure impact: Improve efficacy of impact measurements in every phase of green projects and developments
We have a total of 52 problem statements across the 3 categories.
What is in it for the participants
Up to 15 finalists will be shortlisted through a global scouting programme and shortlisted finalists can expect the following:
- Global exposure through Demo Day presentation at the Singapore FinTech Festival 2021
- Mentorship from Corporate Champions closest to the problem to refine and develop proposition & investor exposure through Deal Friday
- Guidance on navigating the local banking, regulatory, legal and tax environment as part of the Hackcelerator program
- Fast-tracked application to the FSTI MAS POC Grant of up to S$200,000
- Cash stipend of S$20,000 for all finalists, with 3 winners getting an additional S$50,000 each
- Free access to cloud prototyping platform APIX for rapid prototyping
Last year, the Global FinTech Hackcelerator saw more than 270 FinTech submissions from over 40 countries. Finalists from past editions of the Hackcelerator have taken leaps forward in scale and creating real impact. They have gone further and beyond the Hackcelerator to work with corporates to pilot and scale their solutions. Many have also achieved commercial success – from raising millions of Series A funding to securing an IPO to having success exits via acquisitions.
If you have the solutions that we are looking for to create a greener and more sustainable financial industry, apply in the Global FinTech Hackcelerator 2021 and you can be one of them.
Step 1: Application (5 May – 4 July 2021)
Register for an APIX account and submit your proposal directly on the APIX platform.
Step 2: Judging round (Jul – Aug 2021)
Up to 15 teams will be selected as finalists by a panel of industry leaders. The list of finalists will be announced in August 2021.
Step 3: Hackcelerator Workshop (Sep – Oct 2021)
Finalists will be paired with a Corporate Champion and will undergo various workshops to strengthen their value proposition and 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 2021 (Nov 2021)
At the end of the Hackcelerator Workshop, all finalists will have the chance to demonstrate their solution at the Singapore FinTech Festival in November 2021.
All finalists will also receive a cash stipend of S$20,000, to be used either to develop a contextualized POC or enhance their solution with a corporate, and the top 3 winners will receive an additional cash prize of S$50,000 each.
Qualifying finalists are fast-tracked to receive up to S$200,000 Financial Sector Technology and Innovation Grant from MAS to participate in a Proof of Concept 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.