Deadline: 26-Jul-20
Do you want to transform the way Zambians pay, save, send or lend money? If yes, then apply for this FinTech4U Accelerator Programme.
United Nations Capital Development Fund (UNCDF) and BongoHive partnered on a business accelerator programme, FinTech4U, that aims to address some of these challenges by working with 10 Zambian FinTechs that offer innovative and effective digital financial products and services to all Zambians, especially those that are traditionally underserved or “left behind.”
The FinTech4U Accelerator Programme is a 3-month accelerator programme. The programme is designed for entrepreneurs who have recently started a fintech or digital financial services business that has the potential to grow throughout Zambia and the regional market.
Focus Areas
The accelerator programme will consist of a selection of 5-10 startups , operating in any one or more of the following focus areas:
- Payments
- Insurance
- Capital Markets
- Lending
- Digital Banking
- Authentication
- Blockchain
- Cryptocurrencies
- Business Solutions
- Real Estate
- Personal Finance
- Credit Scoring
- Regulatory Tech
Benefits
- New businesses, including FinTechs, need support in many areas to succeed and thrive.
- In addition to technical assistance, each FinTech will receive $3000 to achieve milestones within the programme.
- 3 months intensive technical assistance + 3 months additional business support as needed
- Regulatory Guidance by UNCDF in partnership with relevant regulators, including BoZ, ZICTA and SEC
- Fintech Advisory by UNCDF, including Human Centered Design, Data Analytics, and others
- Tax advisory by EY Zambia
- Legal advisory by Musa Dudhia & Co.
- High-Speed Internet Access by Liquid Telecom and MTN Zambia
- Cloud Computing Credit with Amazon’s AWS or Microsoft’s Azure
- Top Rate Class Sessions on Business Modeling
- One-on-one Business Advisory Sessions
- One-on-one Accounting & Finance Advisory
- Top Rate Business Mentorship by industry leaders
- Introduction to Funding, Promotion and Travel Opportunities
- Free Co-working Space for 6 months
- Valuation of company (meaning determining the value of the company)
Selection Criteria
- To qualify for the FinTech4U programme you must be a FinTech.
- A FinTech is defined as: a business that uses technology and/or data to bring a new product, service or business model in the financial services sector (including Business2Customer, Business2Business, Business2Government, etc)
- Have at least a minimum viable product (a product with just enough features to satisfy early customers and provide feedback for future product development)
- Have been running from 3 months to 3 years
- Desire and ability to grow in and outside of Zambia
- Can demonstrate some sort of market traction (proof that somebody wants your product. Ideally, it should communicate momentum in market adoption)
- Special consideration for products and services that work to include traditionally under-served populations, such as rural communities, women and youth
For more information, visit https://fintech4u.co.zm/