BAHRAIN - Statys, a fintech startup that reduces the cost of risk assessment for banks and other lenders, has secured top prize in the MENA Startup Battle sponsored by Amazon Web Services (AWS) at Unbound Bahrain.
The contest, which recognises the best in entrepreneurship in the MENA region, was held at award winning innovation festival Unbound Bahrain on the 7th of March. The event took place at Bahrain National Theatre.
The competition attracted over 100 companies from across the MENA region with competitive heats taking place in Cairo, Abu Dhabi, Bahrain and Saudi Arabia.
Six finalists took to the stage in the competition final on Day Two of Unbound Bahrain in front of judges from Sparklabs, Startup Factory and Unbound.
Statys was founded less than a year ago by Pierre Proner who has established four other successful businesses in the past.
His latest venture provides risk analysis as a service using AI, greatly reducing risk assessment costs through reducing manual labour involvement. The company is based in Dubai as part of the first Startupbootcamp Fintech cohort in the region.
Unbound Bahrain held the event to identify leading startups in the region who competed for exhibition space and a substantial prize in the form of AWS Credits at the finals at Unbound Bahrain.
Speaking about the win, Pierre Proner, Founder of Statys said:
© Press Release 2019
“We’re excited to be recognised in the MENA region. We see huge potential for the application of our technology in the fintech sector and the ability to continue to leverage the AWS cloud to innovate and grow.
Each regional finalist had a total of five minutes to impress the panel of expert judges who probed the competitors on their teams, product, market traction and market opportunity.
Statys is launching a pilot with a major bank later this month and will be pursuing others in 2019.
Other finalists included Lazy Wait, a hospitality tool to help restaurants and bars manage waiting times, Cyber-security startup Deemark360, E-commerce tool Datavirgin, Work Hint, a consultant marketplace targeting SME’s and Evno, an event management tool.
About Unbound Innovation Festivals
Unbound is a global innovation platform with festivals in Bahrain, London, Singapore and Miami. As a powerful, trusted brand with a globally respected voice on innovation, Unbound bridges the gap between entrepreneurs, corporate business, governments and trade agencies to fuel a digital future. It encourages innovation by showcasing pioneering ideas to digital communities around the world. In 2018, Unbound festivals welcomed 25,000 of the finest minds in tech to hear from a thousand future-focussed speakers, and take part in immersive brand experiences, pitch sessions and startup battles.