In recent years, the fintech industry has become of great interest to Moldovan entrepreneurs. Moldovan startups and financial and IT companies have focused on what fintech means and the benefits that can be offered to society. To this end, Startup Moldova with the support of general partners Moldova Agroindbank and Mastercard, but also other partners such as – USAID and Sweden in the TEKWILL project – launched “Vertical FinTech 2021” – a comprehensive program dedicated to tech startups that develop solutions for the field of financial services. It is a platform that connects different players in the industry (financial-banking / IT companies, etc.) and creates collaboration bridges for the development of innovations and startups in the most promising tech field.
Among the benefits that the program will bring to the market are increased international competitiveness for Moldovan companies and enterprises, a better developed local market for B2B startups, accelerating entrepreneurship in the country, new opportunities to attract financial resources in the startup ecosystem -hate.
Actions within the FinTech 2021 Vertical:
On April 23-25, a FinTech Hackathon was organized that brought together future IT engineers, information technology enthusiasts and specialized programmers interested in this industry, to develop practical solutions in the field of finance. FinTech Hackathon hosted over 70 partitions, becoming a starting point in selecting the participating teams for the next stage – the Accelerator.
The hackathon took place between April 23-25, during which the participants had the opportunity to learn about innovative development approaches, good industry practices, but also international experiences in the field. At the end of the event, after Demo Day, FinTech Hackathon Moldova announced its winners! Thus, 8 teams interested in developing digital solutions or services for the financial-banking sector were registered in the FinTech Accelerator. FinTech Hackathon Moldova brought together 78 engineers, programmers and people interested in the IT industry. Under the guidance of experienced trainers, participants went through mentoring sessions to increase their skills and creative potential, but also to implement with more courage and other innovative ideas to improve services in the financial industry in the country.
In the second stage, the accelerator supported the teams of selected startups to access the resources they need, to develop fintech products and move to the next level – piloting. The accelerator aims to create connections between participating B2B startups and financial / banking enterprises. Participants had the opportunity to present and test their products at the end of the acceleration program. The target of the accelerator are innovative companies with high potential for development and expansion both locally and internationally.
Thus, for 3 months, the participants had mentoring and consulting sessions from mentors and experts in the field, access to an extensive business network in the financial-banking field, new knowledge and access to future clients to benefit from potential investments and information on how corporations can support a local initiative.
Fintech Vertical 2021 will end with a conference attended by experts, startups and all those associated with the financial industry. The event will discuss industry challenges, consumer needs and the potential of fintech solutions to build new business models through which banks, financial services companies and other market players could provide the best services to customers and business partners. business.
A series of meetings, webinars, discussion panels and other events take place within the FinTech Vertical. You can follow them all on the official website – fintech.md.