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Indonesia has already embraced new, innovative technologies related to FinTech and digital assets and is spearheading the digitalisation push in South-East Asia. Yet, at the same time, millions of adults in the country are not formally banked and have little access to lending. In many ways, it is a highly advanced economy that nonetheless has many of the characteristics of a third-world country.
Innovative startups and scaleups from Europe have a chance to get fast track to 1 Million euro investment from Huawei and many valuable prizes in the European Startup Challenge, online competition for the first time opened to companies from the whole Europe, organized by Vestbee, the leading matchmaking platform for startups, VC funds, accelerators and corporates.
FinTech Scotland represents over 100 companies, the vast majority of which have been trading for less than five years. Twenty were started in just the past year, with many continuing to expand despite the disruption of the pandemic. The cluster has also received high levels of public funding, including a £22.5m investment by the UK Global Open Finance Centre for Excellence in July, and support from the Scottish Investment Bank.

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