[ad_1]
Companies from around the world are invited to take part in the Isle of Man’s largest ever innovation challenge to find solutions to the social, political and environmental issues facing business.
Companies participating this year will develop innovative technological solutions related to fintech, cleantech and artificial BroadCast Unitedligence.
As the world’s only entire UNESCO Biosphere country, the Isle of Man offers the perfect setting for the Challenge and a strong commitment to innovation and sustainable development.
The Isle of Man has today launched its largest ever innovation challenge to develop solutions to key issues in the fintech, cleantech and artificial BroadCast Unitedligence sectors.
Participating businesses from around the world will develop and test innovative technology-based solutions to challenges facing companies on the island and around the world.
This year’s challenge will be expanded, with participants submitting entries based on three key themes: Fintech, Cleantech and Artificial Intelligence.
The Challenge is an important part of the Isle of Man’s ambition to create an entrepreneurial and innovative environment, providing future businesses with the opportunity to flourish and grow.
The launch took place today at ‘Digital Island’, the flagship annual conference of the Isle of Man’s Enterprise Department’s executive arm, bringing together government, regulators and businesses to discuss the Isle of Man’s leading technology sector.
The Isle of Man is the only country in the world to be awarded UNESCO Biosphere status, providing the perfect setting for the Challenge and with a strong commitment to innovation and sustainable development. Participants will benefit from the Isle of Man’s flexible regulatory environment and its supportive business community, who value economic growth and development as well as environmental protection.
The Innovation Challenge is a joint initiative of the Isle of Man Government’s Digital, Finance and Business Executive and will feature business leaders from Island companies as judges and mentors.
The Challenge fosters collaboration with local businesses, government agencies and regulators to improve solutions and gain insights for global readiness. Mentoring and support are provided to guide innovators to success. Meanwhile, networking opportunities connect participants with industry peers, potential customers and investors. In addition, winners and participants will receive more local and international exposure, strengthening the credibility of their projects.
Businesses can apply starting today (November 23) iominnovation.ideawake.com until The application deadline is February 28, 2024The competition will culminate in a grand final in summer 2024, where finalists will have the opportunity to present their solutions to a panel of judges, digital technology businesses and the wider industry.
Lyle Wraxall, CEO of Isle of Man Digital, said:
“We are delighted to launch the largest ever Isle of Man Innovation Challenge today.
“Following the success of last year’s FinTech Innovation Challenge, this is another fantastic opportunity for businesses from around the world to take advantage of the business and innovation-friendly environment the Isle of Man offers, and the collaborative approach of the Isle of Man Government and regulators.
“The expansion of the Challenge’s scope reflects the Isle of Man’s vision and ambition to support and develop our capabilities in these cutting-edge areas and will enable participants to develop technology-based solutions to some of the most pressing opportunities and challenges facing business.”
Michael Crowe, CEO of Isle of Man Finance, said:
“This challenge will build on the success of our inaugural InsurTech Accelerator Programme and FinTech Innovation Challenge – both of which concluded this year and attracted pioneering companies and scale-ups from around the world.
“Expanding the Challenge to cover a wide range of topics reflects the diversity of the Isle of Man’s economy and I look forward to seeing how the Challenge develops and the solutions provided by participants.
“Here on the Isle of Man, we pride ourselves on our supportive, collaborative approach to business and we can’t wait to work with players to establish our leading position as an InsurTech and FinTech hub for new ideas and innovators.”
Kirree Gooberman, Director of Business Development at the Isle of Man, said:
“For the first time, this year’s Challenge will encourage innovators to work on finding solutions to issues that impact the environment and the sustainability of business operations, exploring solutions across all sectors of the economy and their supply chains, from food production to energy.
“The Isle of Man is uniquely positioned to meet this challenge. We provide a supportive environment for businesses to trial innovative and creative new concepts before taking them to the wider market. As the world’s only full UNESCO Biosphere nation, we have ambitious net zero targets, including a commitment to fully decarbonise electricity by 2030. We recognise that collaboration between government, industry and innovators is vital to meet the challenge of climate change.”
The Challenge builds on the success of the 2022 and 2023 InsurTech Accelerator Program and FinTech Innovation Challenge, which attracted a total of 160 motivated and creative applicants from around the world.
[ad_2]
Source link
