The Isle of Man Government today announces the cohort of 16 international organizations that will take part in the island’s largest ever Innovation Challenge.
The global competition sought organizations at all stages of development to provide breakthrough solutions in FinTech, Data & AI and Cleantech to address specific business challenges. Almost 50 companies applied to take part in the challenge, which started last November. The final participants came from seven countries around the world, including the UK, USA, Australia, New Zealand and Singapore.
From early April until the final day on June 13, finalists will work with the Isle of Man Government’s financial, digital and economic executive agencies, as well as regulators, industry leaders and local businesses to bring their solutions into action.
You will receive tailored care and support as well as networking opportunities with industry colleagues, potential customers and investors.
Lyle Wraxall, Chief Executive, Digital Isle of Man, said: “Having seen the successes achieved by the finalists’ FinTech program last year, we are extremely excited to see what creative solutions this cohort will come up with over the course of our biggest program ever Times will develop.” Challenge. The Isle of Man is a hub for innovators from all over the world and we are delighted to have received so many applications from so many countries. Our supportive business community, as well as experienced mentors and judges, can’t wait to welcome the finalists to help them achieve their goals in the coming months.”
Michael Crowe, Chief Executive, Finance Isle of Man, said: “We were extremely impressed by the wide range of ambitious participants who applied for the challenge and we believe the Isle of Man can help be the gateway for to be these groundbreaking, cutting-edge solutions.” driving change worldwide. With our strong, established and diverse financial and professional services sector, we are well placed to be a safe testing ground for ground-breaking ideas and we look forward to continuing to grow the Isle of Man’s dynamic FinTech ecosystem.”
Tim Cowsill, Chief Executive, Business Isle of Man, commented: “We are delighted to include cleantech as one of the Challenge themes for the first time. We hope that with the quality of companies taking part in the Innovation Challenge, we will not only bring global expertise to the Isle of Man, but also consolidate our position as a leader in new technologies and positively address sustainability and environmental challenges.
“We look forward to working with all of our finalists in the coming months to further develop their ideas in the areas of medical technology, circular economy, network management and pollution monitoring. Collaboration between government, industry and innovators will be crucial to tackling economic, social and environmental issues, and the Isle of Man is well placed to boost this process. It is an ideal location for testing new technologies.”
The Isle of Man offers a unique and forward-looking setting for the challenge, being the first entire area in the world to be recognized as a UNESCO Biosphere and with a strong commitment to innovation and sustainability. In this way, participants learn and develop in an environment that balances economic development, environmental protection and a welcoming community.
The competition culminates in a final event on June 13th, where finalists will have the opportunity to present their solutions to a jury of experts from digital technology companies and the wider industry.
The event will feature notable industry speakers and key professionals from the financial, business and technology sectors, as well as members of the local community.
Winners in each category will receive additional publicity and promotion locally and internationally, as well as six months of expanded access to the Isle of Man marketplace with mentors, potential investors and customers from our sectors, as well as regulators and government officials.