The Western Cape Department of Economic Development and Tourism (DEDAT) has opened the Digital Innovation Matchmaking Challenge, powered by KPMG South Africa, as part of their mandate to deliver a world-class digital ecosystem and be recognised as Africa’s Tech Capital.
This challenge supports the 4IR-Tech and Fintech sectors and aims to (1) Give Western Cape fintech and 4IR-Tech firms the opportunity to showcase their solution to Investors, potential corporate clients and other ecosystem stakeholders. (2) Provide the opportunity for various ecosystem stakeholders to interact in a constructive manner to create new and enhance existing business value. (3) Publicly express Western Cape Province’s support for the Fintech and 4IR-tech ecosystems.
The technologies are defined as follows: 1. Fintech: This category includes all financial service related technology solutions including Insuretech and financial service Regtech. Some examples of problems being solved by technologies in this category includes: payments, trading, wealth management, lending, credit scoring, financial inclusion, tax, market conduct, regulatory reporting, micro insurance, claims handling, Know-your customer solutions among others. 2. 4IRTech: The fourth industrial revolution technology solution category includes technologies that use Artificial Intelligence (including machine learning), Big Data Analytics, blockchain/ distributed ledger, drones, 3D printing, IoT, robotics and automation, among other. The solution could be relevant for more than one industry or tailormade for a specific industry.
Recognising that there might be overlap between Fintech and 4IR-Tech, where relevant and appropriate, firms may apply in both categories.
Who can apply: Fintech and 4IR-Tech providers that are registered companies based in the Western Cape. The firms should be not more than 10 years old (i.e. founded from 2010) and have no more than 150 employees. Primarily we are looking for technologies that already have traction in the market, however 1 finalist per category will be a company with a new solution that is not yet fully released in the market but does have a prototype.
Timelines: Applications close at midnight (SAST) on Friday 15 Jan 2021. All validated applications will be scored by a panel of specialists from the relevant industries and the selected finalists will have the opportunity to showcase their solution to local industry towards the end of February 2021. How will the finalists benefit: the ten finalist technologies (5 Fintech and 5 4IR-Tech) will have various publicity and showcase opportunities including a dedicated Challenge Showcase event, and a profile opportunity in Wesgro’s Pioneer Magazine, 5 Selected Tech firms Finalists will have the opportunity to present their technologies to potential clients and investors at the end of February. Publicity will continue until the end of 2021. Through the exposure we aim to connect the tech firms to potential clients and where relevant, investors. KPMG SA will support all finalists in shaping their pitch for the showcase event.
Active Challenges, but closed for Entry
There are no ongoing challenges that are now closed for entry.
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