Fintech World Challenge 2019 launch

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The City of Knowledge Foundation, in partnership with the IE Business School of Spain and SENACYT, made the official launch of the FINTECH WORLD CHALLENGE 2019, to be held at the City of Knowledge on June 12, 2019.

The FINTECH WORLD CHALLENGE is a global innovation program for the acceleration of the 10 startups with the greatest potential, with emphasis on social innovation, development of new technologies and entrepreneurship of new business models in the financial industry.

The objective of this initiative is to establish in Panama a global ecosystem of startups, companies and organizations with innovation, research and development projects, which propose and work on real, viable, scalable and effective solutions to promote financial inclusion through the provision of services accessible to all.

For the challenge, the ten most innovative projects in financial inclusion will be chosen. The winners, after the admission process, will be received from their respective countries at the City of Knowledge Innovation Center.

There, during a week, they will participate in the acceleration program, which will feature important speakers and mentors from the IE Business School, with the aim of turning the winning ideas into real, viable and effective solutions for the promotion of financial inclusion.

In addition, a meeting with the main investors of the sector has been organized during the Demo Day and closing ceremony of the event.

To make the FINTECH WORLD CHALLENGE known, the IE Business School and the City of Knowledge Foundation and SENACYT will use their local and international networks of entrepreneurs and innovation areas, to take this initiative further and promote maximum participation.

The FINTECH WORLD CHALLENGE 2019 has been built on the basis that "Panama is a great financial and success center", said Juan José Güemes, President of the Entrepreneurship and Innovation Center of IE Business School, Spain.

On the other hand, Víctor Sánchez, Director of Innovation at SENACYT, indicated that "our public policy does not necessarily understand how to support this knowledge brought to us by new technologies. That's why these types of events must be done in different areas so that they can support the country’s innovation strategy that attracts new companies and new ideas."

Professor Jorge Arosemena, Executive President of the City of Knowledge Foundation, noted that "what brings us together today with IE and SENACYT is to be able to find new answers regarding technologies that can put our country up to date in a world that will continue to evolve. This is a transcendent step, since we must try more ideas that open the doors of the future of our country."