Mastercard AI StartUp Challenge 2024 ($150,000 prize)

MasterCard, the UAE Artificial Intelligence, Digital Economy and Remote Work Applications Office, and First Abu Dhabi Bank (FAB) are collaborating to empower the next generation of AI pioneers in the UAE with their first-ever AI challenge.

The challenge invites seed and Series A startups to propose innovative AI-driven solutions in the fields of cybersecurity, generative AI in banking and finance, customer lifecycle management, productivity enhancement, emerging fintech and ESG. The competition will culminate in a pitch day, where finalists will be assessed by a panel of experts from the three partners.

Themes of Mastercard AI

There are 4 different themes for this challenge:

• Risk and Security: Using advanced AI technologies to help organizations better predict, assess, and mitigate potential risks and enhance the accuracy, efficiency, and effectiveness of risk management practices.
• Next-gen Banking and Finance: Leveraging cutting-edge technologies like generative artificial intelligence, blockchain, the Internet of Things (IoT), and advanced data analytics to offer enhanced security, personalized experiences, efficient operations, and innovative products shaping the future of banking and finance.
• Emerging fintech: Revolutionize the financial industry by leveraging advanced technologies such as generative artificial intelligence, blockchain, machine learning, and the Internet of Things (IoT) by enhancing accessibility, efficiency, and personalization of financial services.
• ESG Sustainability: Environmental, Social, and Governance (ESG) and sustainability initiatives are increasingly important in the banking and financial domain driving significant changes in investment strategies, lending practices, risk management, and corporate governance.

Check : Fast Forward Startup Accelerator 2025 ($25,000 grant)

Prize

• The winner will receive a cash prize of US$150,000, access to Mastercard’s global sponsorships, events and priceless assets as well as an accelerated enrolment into its award-winning global startup engagement program Start Path.

Eligibility for Mastercard AI

• Entrants must be seed or series A startup, specializing in AI and champions in the fields of:
  • Risk & Security.
  • Next-Gen Banking & Finance.
  • Emerging Fintech.
  • ESG Sustainability.

Pitch Day

Finalists will be invited to a pitch day where ideas will be assessed by our panel of experts based on several criteria, including:

• Innovation & Novelty
• Market Potential
• Business Model & Rev Potential
• Product Fit
• Growth Strategy
• Impact on User / Society
• Presentation & Engagement
• Ethical AI / Data Privacy
• Team & Execution
• Financial Health

Also Check : Shireen Abu Akleh Prize 2024 (up to €5,000)

Application

Ready to take your startup to the next level? Apply by August 25, 2024.

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