Finweg, participated in the 8th edition of startAD’s Corporate Sprint Accelerator, a 4-week virtual accelerator for early-stage fintech startups looking to enter the UAE market, organized by New York University Abu Dhabi in partnership with Ripple’s University Blockchain Research Institute.
In this call, Finweg was the second finalist with its blockchain asset and rights management platform, applicable in sectors such as:
- Finance: To make programmable payments with automated conditions in a Smart Contract; M2M (Machine to Machine) payments; Electronic alternative to traditional payment purposes (checks, promissory notes, etc.); Confirming.
- Energy and industry: PPAs (Power Purchase Agreements) for renewable energies, traceability of processes to control the quality or origin of supplies. Automation of M2M processes, integrating IoT.
- Social media economy: NFT Collections for: Community Building, Merchandising Certification, New Merchandising Digital Products, Souvenir Registry, Digital Asset Marketplace.
The goal of this accelerator is to immerse startups in robust local customer discovery and validation activities through a combination of training, mentorship, 1-1 meetings with corporate partners, and pitches to investors.
The four-week program included two key phases:
- Pre-programming phase (10 weeks): recruitment of startups, interviews and evaluation.
- Program phase (4 weeks): training, coaching, expert panel sessions, corporate startup meetings and mentoring.
The program culminated in a Market Access Day and Investor Demo Day, which took place on November 25, 2021, in which participating companies had the opportunity to introduce themselves to regional industry leaders and investors seeking business and investment opportunities.