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CzechInvest launched a new website to support fintech and DLT innovations
The CzechInvest Agency has launched a new website www.fintechsandbox.cz, where innovative companies from the fintech and DLT sectors that need to test their innovative service or product in a regulatory manner can register within the Digital Regulatory Sandbox project. Under the newly created platform, SMEs can use a non-binding consultation with experts or public institutions to identify the applicable regulation related to the intended service and its requirements.
The portal and the aforementioned support programme is part of the National Recovery Plan (NRP). Selected innovative companies will be provided with indirect support, mainly in the form of regulatory testing of their solutions, but also business mentoring and other advisory services.
The regulatory part will involve not only CzechInvest employees, but also representatives of selected public institutions and other independent experts. The regulatory dialogue will open the possibility to discuss the regulatory aspects of the proposed product or service. Participation in a regulatory dialogue can help sandbox participants address, for example, complex issues related to European regulation and its application to the participant’s proposed solution.
The aim of the Sandbox project is to expand the current support and facilitate the implementation of fintech or DLT solutions, and thus increase the competitiveness of the Czech Republic as a place where financial technology companies can successfully develop in these areas so that their products and services can be successfully launched on the market.
During the preparatory meetings with CzechInvest employees, you can also discuss your intentions and prepare for applying for the programme. Applications can be submitted from 30. 6. 2024.
More about the project can be found here.
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