Deadline: 30-Apr-22
Applications are now open for the NTF V Challenge to support digital entrepreneurs and tech startups in sub-Saharan Africa go international – with online and onsite training, advisory and coaching focused on building digital and business skills with a focus on regional & international business generation and investment promotion.
They target startups improving access to smartphones in Africa through innovative business and partnership models.
In Africa, smartphones remain inaccessible for most of the population since the average cost of a low-end smartphone still exceeds 60% of the average monthly income. The ITC NTF V challenge is looking for African startups facilitating access to smartphones and smart feature phones through device financing models.
Mobile penetration is key to drive economic growth, connect the unconnected and build digital savvy nations. Despite a growing mobile broadband coverage, more than 520 Million Africans do not enjoy internet services, device affordability is one of the major barriers.
Expected Solutions
Expected Solutions can vary from but are not limited to:
- Bi and tripartite partnership models to finance smartphones
- Digitized smartphone loans/instalment schemes
- Mobile phone lending against services (ride hailing, etc)
- Buy Now Pay Later models
Scope: Mobile financing plan, credit, BNPL, Mobile devices lending
What you win?
- Attend VivaTech: they sponsor your flight and passes
- Connect: Connection to the entrepreneurial tech ecosystem in the African country your challenge covers and beyond
- Cash prize: Get $5000 cash prize
- Network: Linkages with VCs and industry players from their network
Selection Criteria
- Formally registered African digital startup working in the African market, revenues a plus, with track record in smartphone financing
- Well defined and big market size
- Strong team with complementary skills and strong managerial and operational experience
- Scalable solution
- Viable and innovative business model
For more information, visit https://challenges.vivatechnology.com/en/challenges/international-trade-centre