The third edition of Arabnet Kuwait concluded with three startups qualifying to compete regionally in Arabnet’s Digital Summit in Dubai next year.

Gamify from Palestine which came first, Swap from Kuwait (second) and Plotos from the UAE (third) were the three finalists who will now get the chance to participate in the Startup Championship taking place in 2019 for a chance to win $20,000.

Held under the patronage of the Ministry of Commerce and Industry, more than a 1000 government leaders, digital practitioners and entrepreneurs gathered for the event which explored the trends in Fintech, big data, blockchain and artificial intelligence.

In his opening speech, Khaled Nasser Abdullah Al Roudan, minister of commerce and industry, highlighted the importance of digital transactions and the related trends in trade and economy worldwide.

“The use of digital solutions is a direct support to entrepreneurs, which makes them manage their money efficiently and therefore is reflected in a revenue increase to the national economy,” he said, stressing the need to create new opportunities for the economy by attracting international companies and benefitting from their technological expertise.

Arabnet founder and chief executive, Omar Christidis also announced the launch of the Kuwait Innovation Economy Tech Startups 2018 report which addresses the main challenges facing the ecosystem.

“The Kuwaiti government has been increasing its efforts in encouraging and supporting the local entrepreneurship ecosystem through various initiatives and by modernising its economic framework,” said Christidis. But there are still issues that need to be overcome in order to encourage an ecosystem thriving with global talent and free from regulatory hurdles.