Submit Applications for Zambia FinTech4U Accelerator Programme
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.
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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/