Dubai Internet City introduces latest edition of the Decode Dubai competition

06 October 2015
Majed Al Suwaidi

Third edition of the Decode Dubai hackathon to be held from 9-10 October FGB strategic partner

Dubai, UAE: Dubai Internet City (DIC) has announced that the third edition of its hackathon, Decode Dubai, will take place from 9-10 October 2015 at the Media One Hotel in Dubai, in partnership with FGB.

The 36-hour competition will bring together developers and designers to build the most innovative web or mobile applications around Financial Technology, and is part of DIC’s ongoing efforts towards driving innovation and empowering entrepreneurs. Participants will have the opportunity to engage with and learn from the judges and mentors, who are leaders in their fields, and the winning teams will be awarded cash prizes as part of the initial seed capital sponsored by FGB, one of the UAE’s leading providers of financial solutions.

Over the course of this year, Decode Dubai has expanded to cater to different industries, and has played an important role in inspiring new ideas and digital products, as well as driving the growth and development of the UAE’s entrepreneurial ecosystem. The first competition, held in January 2015 focused on “improving the lives of citizens and residents in Dubai” and the second competition, held in June, focused on different Smart themes and brought together over 120 developers.

Through supporting competitions such as Decode, as well as a number of initiatives such as Drones for Good and droidcon Dubai, DIC has established itself as a champion of innovation and entrepreneurship. DIC was also named a Strategic Partner for Smart Dubai by the Executive Smart Committee earlier this year, with a mandate to spearhead the development and support of start-ups, entrepreneurs and application developers.

Financial Technology is booming, particularly for entrepreneurs and start-ups who are increasingly taking advantage of the digitization of this sector, and according to research firm CB Insights, venture capital is pouring into Fin Tech, with firms attracting $12 billion of investment globally last year, up from $4 billion in 2013.

Commenting, Majed Al Suwaidi, Managing Director, Dubai Internet City said;
“Dubai Internet City is an active supporter of the government’s Innovation Strategy and over the past year we have initiated a series of competitions and activities to drive this forward. The first and second editions of Decode bought about innovative and creative ideas and applications, showcasing the vibrancy and dynamism of the UAE’s entrepreneurial landscape, and we continue to work extremely hard to ensure that start-ups and entrepreneurs are given new opportunities.”

“We are seeing increasing innovation across the Financial Technology sector, with more and more start-ups and entrepreneurs moving into this space, and it is therefore an excellent theme for this edition of the competition, which we hope will further stimulate innovation across this sector, and empower the technopreneur community.”

Hana Al Rostamani, Head of the Consumer Banking Group at FGB, said: “Dubai is firmly set on the road to becoming a smart city, and supporting entrepreneurs as well as start-up technology businesses will play a vital role in achieving this vision.”

“FGB is a proud sponsor of DIC’s Decode Dubai, which promotes creativity and innovation in the UAE, and supports HH Sheikh Mohammed bin Rashid Al Maktoum’s innovation strategy. Implementing new technologies for our customers is a key part of our strategy at FGB and we’re pleased to be contributing to DIC’s efforts to drive the UAE’s digital revolution forward. The event is a reiterates of the importance of new innovation initiatives”

To register and find out more details about the competition: http://www.dic.ae/decodedubai/