ABA Bank sponsors the first Startup Weekend’s FinTech Edition
ABA Bank proudly sponsored the Startup Weekend event powered by Google for Entrepreneurs. Its FinTech edition was held from 3-5 February 2017 at Trybe, a co-working space in Phnom Penh.
The goal of the Startup Weekend’s FinTech edition is to generate awareness of the possibilities in Cambodia and to bring together diverse skills and experience to build startups. FinTech or Financial Technology means computer programs, applications and other technology solutions used to support or enable banking services.
In addition to sponsoring the event, members of ABA Bank acted as mentors and judges, helping with ideas, offering fundamental business guides, sharing marketing insights, and developing the business model.
“We at ABA Bank are proud to sponsor the Startup Weekend FinTech Edition. This is a great place where young Cambodian entrepreneurs can demonstrate their unique and creative ideas, which in case of success can evolve to something serious and big,” Zokhir Rasulov, Chief Digital Officer of ABA Bank said. “Moreover, I’m delighted to participate in this event personally as a judge. I met many young and talented people who demonstrated their FinTech related ideas that can help people to improve their financial life and bring benefits to the society,” he added.
The event gathered 45 participants with diverse background including banking, accounting, teaching, IT and other business fields. In total, 11 ideas were pitching, but only six teams made their way to the final:
- Snapcash, mobile app offering loans service;
- Angkor Biz Pool, a taxation platform for businesses that helps to comply with Cambodian tax regulation;
- Fi-Cleanergy, financial solution which provides clean energy for businesses;
- Mochay, retail payment mobile app that uses QR codes for processing orders;
- Pikgy, financial literacy app that provides gamified saving scheme;
- Debt Clearing System (DCS), online platform for individuals / businesses who are under debt to exchange their expertise/service to the banks or customers in order to pay off their debt.
The winner of the FinTech edition in 2017 is Angkor Biz Pool. The judges’ decision is based on the validation of idea, the execution & design, and the business model.
About Startup Weekend Cambodia
Startup Weekend is a 54-hour event that brings together Cambodian designers, developers, entrepreneurs, and experts from all domains to do amazing things. All Startup Weekend events follow the same basic model: anyone is welcome to pitch their startup idea and receive feedback from their peers. Teams formed around the top ideas (as determined by popular vote) and embark on a three-day frenzy of business model creation, coding, designing, and market validation. The weekend culminates with presentations in front of local entrepreneurial leaders with another opportunity for critical feedback. Startup Weekend Cambodia established and launched its first event in 2011.