Deadline: 6-Jan-23
In collaboration with Impact-Linked Finance Fund, Village Capital has launched a new accelerator program to support impact startups driving financial inclusion for migrants.
Financial Solutions for Migrants is an accelerator for impact-driven startups developing bold solutions that increase the financial inclusion of migrants, including refugees, and especially targeting women. This program is funded by the Impact-Linked Fund for Gender Inclusive Fintechs (ILF for GIF) and managed by the Impact-Linked Finance Fund. The ILF for GIF provides Impact-Linked Finance and technical assistance to fintechs to incentivize a stronger focus on gender transformative outcomes.
goal
The program is designed to help startups identify early milestones, prepare for their next round of capital (if relevant), and meet potential investors. It will also help participating fintechs to improve product and service fit with women migrants’ needs and mature their impact management systems and practices. In short, through virtual and in-person workshops, they deliver a targeted, award-winning curriculum and provide countless connections to prepare startups for growth.
The program will
- Define: Develop and refine an in-depth, contextualized understanding of financial inclusion challenges for migrant and particularly migrant women across Africa, the Middle East and South Asia. Results will be shared in a public-facing report;
- Accelerate: Identify and scale 30+ startups addressing those challenges through a combination of intensive in-person and virtual investment readiness training and platform-based long-term support. The acceleration will contribute to improving the ability of the products and services represented to fit the needs of migrant women; other
- Convene: Build and develop partnerships that drive broad awareness of the challenges and opportunities in this space, catalyzing investment, storytelling, and other essential support for these solutions.
benefits
- mentorship
- Opportunities to network and receive mentorship from investors, strategic partners, founders, and business leaders.
- connections
- Build deep connections with other founders in your track and their larger Village Capital investor and alumni network. Participate in mock board meetings with representatives from relevant institutions, corporates, and investors that can help their organization scale.
- training
- Interactive workshop weeks tailored to help their company identify early milestones and prepare them for their next round of capital (if relevant). All selected companies will receive post-program support from the Village Capital team
- Advice
- One-on-one coaching with an investment analyst focused on building a financial model, identifying unit economics, and on using financial metrics to drive both their business and investor diligence.
- exposure
- Exposure on Village Capital’s program website and other communications collateral.
- Consideration for funding
- All selected companies will be screened for eligibility to receive funding from the Impact-Linked Fund for Gender-Inclusive Fintech
Eligibility Criteria
- Legal incorporation as a for-profit entity in a Sub-Saharan African / MENA and Turkey / South & Southeast Asian country
- Market-based solution that tackles the challenges listed above
- Have at least a minimum viable product (MVP) and some traction under their belt. Relaxation may be made for products in development if value proposition showcased is considered strong
- Have meaningful customer or business validation (not limited to revenue, can also be successful pilot studies, number of users, and/or strategic partnerships)
- Companies with founders of diverse backgrounds and products with a focus on women migrant consumers will be preferred
For more information, visit Village Capital .