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Global FinTech Hackcelerator 2020The Monetary Authority of Singapore (MAS) launched the MAS Global FinTech Innovation Challenge which seeks to identify and recognise ground-breaking solutions that can enable the financial sector to respond to two pressing global challenges of today - COVID-19 and climate change. The MAS Global FinTech Innovation Challenge comprises of 2 distinct competitions - MAS FinTech Awards and MAS Global FinTech Hackcelerator with a total cash prize of S$1,750,000. Find out more about the MAS Global FinTech Hackcelerator below.
This year’s Global FinTech Hackcelerator seeks to create impactful, market-ready FinTech solutions that solve real industry needs in these focus areas:
With over 100 problem statements collated from the finance industry, we invite innovative start-ups from around the world to submit their market-ready solutions to solve these problem statements. Up to 10 global finalist teams will be shortlisted to receive a cash stipend of S$20,000 per team, mentorship by industry experts, access to potential clients and investors and an opportunity to win cash prizes totaling S$150,000.
Global FinTech Hackcelerator Journey
Find out how you can be part of this journey
Registration
Commences from 8 Jun 2020Register to participate in the Global FinTech Hackcelerator.
Submit Proposal
Closing Date 10 Jul 2020Submit your proposal(s) and tell us how your solution can solve your selected problem statement.
Finalists Selection
Dates Aug - Sep 2020Up to 10 finalists will be selected by a panel of industry experts.
Virtual Programme
Dates Sep - Nov 2020Shortlisted finalists will join a virtual programme to work with an assigned Corporate Champion who will provide mentorship and guidance to refine their solution.
Demo Day @ SFF
Dates Dec 2020Finalists will present their solutions to a panel of judges and global audience at Demo Day @ Singapore FinTech Festival. 3 winners will be selected with each team walking away with a S$50,000 cash prize.
Global FinTech Hackcelerator Problem Statement Categories
To participate in the Hackcelerator, select a problem statement of your choice from one of the four problem statement categories below, and tell us how your solution can help to address it. To view the full list of problem statements under each category, download our Problem Statement Brochure below.
Responding to a Global Pandemic
Solutions that drive social impact with the aim of tackling the challenges relating to a global pandemic.
Green Finance Solutions
Financial solutions that support the transition to low-carbon economic activities, and provide coverage for climate and disaster risk.
Green Finance Enablers
Solutions relating to the information, processes and mechanisms that support transparency, integrity and decision making for green transition and climate finance flows.
Sustainability
Any other solutions which enable financial institutions to build resilience to crises (both man-made and natural) and promote sustainable development outcomes.
What’s In It For You
Finalists and winning teams will get:
S$20,000
In Cash Stipend
All finalists will receive a cash stipend of S$20,000 each
Up To S$200,000
in POC Grant
All finalists will be fast-tracked to receive up to S$200,000 in MAS Financial Sector Technology and Innovation Proof-of-Concept grant*
S$50,000
In Cash Prizes
Up to 3 winners will be selected to receive cash prizes worth S$50,000 each
* Terms and conditions apply. Please find out more here.
Key Milestones
April to May
MAS engages global industry partners to collect real-world problem statements
June
Problem statements are published and applications open for submissions by interested FinTech companies
August - September
Panel of industry experts will evaluate submissions and select 10 finalists
September to November
Shortlisted finalist teams will join a virtual programme to work with an assigned Corporate Champion who will provide mentorship and guidance to refine their solution. Finalists will also get free access to the integrated development environment on APIX.
December
Finalists will present their solutions to a panel of judges and global audience at Demo Day @ Singapore FinTech Festival. 3 winners will be selected with each team walking away with a S$50,000 cash prize.
Eligibility Criteria
We welcome all solution providers with a market-ready solution that can address any of the published problem statements.
Frequently Asked Questions
Need help? Refer to these FAQs for answers to commonly asked questions
Have more questions? Head over to APIX Community!
The APIX Community is an online forum that hosts discussions, exchange of ideas, problems and solutions around finance & technology with members from different backgrounds: Financial Institutions, FinTechs, Developers, Business Leaders, Government Bodies and NGOs from all around the world.
Global FinTech Hackcelerator
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