- Home
- Technology
- News
- Pakistan’s first & only fintech focused accelerator in full swing for Fintech Disrupt Challenge 20 ..
Pakistan’s First & Only Fintech Focused Accelerator In Full Swing For Fintech Disrupt Challenge 2018
Umer Jamshaid Published November 22, 2018 | 04:16 PM
Fintech Factory, Pakistan’s first and only financial technology focused accelerator program in collaboration with TPS, Sybrid, Rapidcompute, JS Bank & Takaful Pakistan, is progressing towards Karandaaz’s 3rd Fintech Disrupt Challenge finale in full swing
KARACHI (UrduPoint / Pakistan Point News - 22nd November, 2018) Fintech Factory, Pakistan’s first and only financial technology focused accelerator program in collaboration with TPS, Sybrid, Rapidcompute, JS Bank & Takaful Pakistan, is progressing towards Karandaaz’s 3rd Fintech Disrupt Challenge finale in full swing.
Karandaaz, Pakistan’s leading promoter of financial inclusion and associated technology, partnered with Fintech Factory to induct selected applicants for FDC III (2018) into the accelerator program and help them reach a market tested scalable MVP for the challenge.
Fintech Factory’s unique financial technology accelerator program takes startups with market validation and offers them access to state-of-the-art work space, industry-leading mentors, skillset development through personalized training, and excellent networking opportunities.
The program aims to develop the ecosystem in a self-sustaining manner to catalyze innovation in the fintech space to reduce the digital divide and improve lives of Pakistanis. “While the opportunities for bridging gaps in the financial ecosystem are phenomenal, the fintech startup space in Pakistan is at a very nascent stage,” said Owais Zaidi, Founder of Fintech Factory.
“Understanding the needs of startups and Fintech verticals, our objective is to identify, facilitate and accelerate ideas that can improve lives of our fellow Pakistanis in a sustainable and scalable manner.” Mr.
Zaidi further added that Fintech Factory is delighted to have partnered with Karandaaz for the Fintech Disrupt Challenge 2018 and share their aim of harnessing the most innovative ideas from the financial technology space and transforming them into scalable solutions.
“The accelerator is unique in terms of its offering in the local ecosystem; it is keeping its focus to fintech and has a capable team of professional advisers supporting the cohort,” said Umair Munir, an FDC 3 cohort who is the Founder of Trackit.
“We as a start-up have been able to get traction on our MVP and hone our offering. It has also enabled us to validate some of our assumptions and pivot slightly,” he added. Also sharing her thoughts, cohort 3 participant Sara Abbasi who is the co-founder of Blockley, said,” Being a part of Fintech Factory has meant having access to funding opportunities, to business networking opportunities, and to learning from and sharing with other startup founders, all of which has accelerated the process of getting our innovative product to the market.” Presently, 07 trainees are brushing up their innovative fintech solutions at the Fintech Factory for the Fintech Disrupt Challenge finale to be held in Karachi on November 29, 2018.
The Challenge is one of the ways Karandaaz promotes FinTech in Pakistan by way of making the youth a part of its mission, and exploring and honing their sills to carve robust solutions. Startups with ground-breaking fintech ideas and a high growth potential will be given grants of $100,000 and $20,000.
Based in Islamabad and Karachi, Fintech Factory offers its startups access to industry leading mentors, training and resources to enhance their skills to make their startups a success. Fintech Factory also provides state-of-the-art facilities to startups at The Hive in Islamabad and Karachi.
In FDC 2018, initially Fintech Factory on-boarded 10 teams after a rigorous evaluation of more than 50 applicants that were screened through a multi-stage process.
Related Topics
Recent Stories
Teenage girl arrested after stabbing at Welsh school
Ministers visit Aziz Bhatti Shaheed Hospital following roof collapse incident
Karachi, Lahore, Multan win matches of National Women’s Cricket Tournament
No communication gap among players, asserts Babar Azam
IHC serves notices in petition against 'roti' price fixation
Bank employees deprived of Rs 1m at gunpoint
Media playing the role of fourth pillar of democracy: Atta Tarar
AIOU to host 37th annual conference of AAOU in Oct
Pakistan Day Reception in Pakistan Embassy Abu Dhabi
ADC directs to expedite anti-dengue activities
PFA discards Gutka harmful for human health
SSC, HSSC annual exams in Sindh to be conducted in May
More Stories From Technology
-
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
1 day ago -
Pro Tips: How to Capture Stunning Portraits with the Aura Light Portrait of vivo V30 5G
2 days ago -
Itel celebrates launch of S24—a new brand identity
3 days ago -
Realme C53 Price Slash: High-Tech Meets High Style at New Low Price!
4 days ago -
Take Charge, Live Free: Empower Your Life with Infinix NOTE 40 Series
6 days ago -
PTA Undertakes Consultation with All Pakistan Network Association (APNA) on Proposed Class Value Add ..
6 days ago
-
Vivo V30 5G: The Perfect Blend of Enhanced Photography and Premium Design
7 days ago -
PITB's Regional Plan 9 invites applications for its newly launched incubation centers in Rawalpindi, ..
8 days ago -
Pakistan calls for enhanced information integrity on digital platforms
8 days ago -
Infinix NOTE 40 Series vs. the Competition: Why It Stands Out
9 days ago -
"Unlock Exceptional Value: The New realme Note 50 with Extended Warranty Now Available in Pakistan!� ..
9 days ago -
Google unveils new AI chips, arm-based processor for data centers
15 days ago