On October 10 of this year, the second one will take place in Riga Latvian FinTech Forum, which will gather managers of Latvian and European financial technology companies, financial and technology professionals, investors and officials. On the forum’s main stage, experts will discuss current FinTech topics, while this year’s forum novelty – FinTech Factor competition – will take place at the same time.
The forum is organized by the Bank of Latvia in cooperation with the Investment and Development Agency of Latvia (LIAA).
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“In order to promote the development of FinTech companies and innovations in the financial sector, the Bank of Latvia provides various support mechanisms, i.e. see consultations in the Innovation Center and the opportunity to test innovative products in the Regulatory Sandbox, a smooth and understandable licensing process and educational events. In addition to that, this autumn we invite FinTech companies to take advantage of a special opportunity – in the Fintech Factor competition to present their business idea to an expert jury and receive immediate consultations that will help in business growth,” says Santa Purgaile, Deputy President of the Bank of Latvia.
Competition of FinTech companies Fintech Factor
FinTech companies in the initial business development phase, operating in the fields of payment assurance, crypto-assets, crowdfunding, loans, regulatory technologies, etc., are invited to apply for the competition.
Applications for the competition can be submitted until September 25 by filling out the application form on the fintechforum2023.eu website. The ten strongest applicants will receive an invitation to participate in the Fintech Factor competition on October 10. On the day of the competition, the representatives of each company will have an individual meeting with the competition jury, during which the company will have to present its business idea, while the jury will evaluate it and give advice for the further development of the business idea. The authors of the two strongest business ideas will be sent to the finals of the competition, that is, they will have the opportunity to present their business idea on the big stage of the FinTech forum in the afternoon of the same day and fight for the opportunity to receive the prize provided by the investor – an investment in the company’s capital.
Companies registered both in Latvia and in other Baltic and European countries are invited to apply for the competition.
Experienced experts in the field of FinTech will work in the competition jury, i.e. see Head of the Financial Technology Supervision Department of the Bank of Latvia, Marine Krasovska, and investor and provider of the competition’s main prize, Payall Payment Systems, Inc. President Gary Palmer.
All participants of the competition will have the opportunity to participate in training on how to successfully present their business idea and attract the attention of investors the day before the competition.
“The FinTech sector makes up about a quarter of the total number of start-ups in Latvia, making a significant contribution to the development of the Latvian economy. The majority of Latvian FinTech companies specialize in such in-demand areas as payment assurance, data and IT solutions, crowd funding, as well as blockchain technologies. In six years, the companies of the sector have attracted more than 400 million euros in direct investments. The FinTech forum is organized with the aim of creating a platform where representatives of the industry can discuss the current affairs of the field not only in the context of Latvia, but also in the world. Such networking platforms provide a lot of new ideas and development opportunities, as well as raise the industry’s international visibility,” emphasizes LIAA director Kaspars Rožkalns.
FinTech Forum: Discussions on hot industry topics and networking
In the first part of the FinTech forum, there will be several panel discussions on current topics in the FinTech industry – investment attraction for FinTech companies, challenges in the world of crypto-assets, development prospects created by artificial intelligence. It is planned to look back on the achievements in the implementation of the Latvian FinTech strategy and on the development trends of the Latvian FinTech environment. The forum will be opened by Kristīne Černaja-Mežmale, a member of the Board of the Bank of Latvia, and Kaspars Rožkalns, director of LIAA.
In the afternoon, the final of the Fintech Factor competition and the award ceremony will be held on the main stage of the forum.
On the other hand, the final part of the forum is dedicated to making contacts and consultations. Participants of the forum will have the opportunity to consult with representatives of the Bank of Latvia, LIAA, JSC “Attīstības finanų institucija Altum”, “KPMG Baltics SIA” and The Connector.
The FinTech forum will be held in Riga, Gustava Zemgala gat 74a, in the “Fantadroms” event room. The number of places is limited, so visitors are invited to register in advance by filling out the application form on the fintechforum2023.eu website. More information about the forum program and participants can also be found there. The working language of the forum is English.
2023-08-02 09:15:00
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