SWIFT, has announced applications for the third edition of the Innotribe Startup Challenge for Africa, which will see the top three startups secure cash prizes and a chance to pitch in front of Fintech experts and investors, have opened.
The challenge is aimed at giving young African financial technology startups the opportunity to showcase their products and receive expert coaching and mentoring.
The last edition (2016) saw South Africa’s Hello Paisa and The Sun Exchange, and Cameroon’s WeCashUp emerging winners, each receiving cash prizes and invitations to attend Sibos, SWIFT’s annual global financial services conference.
This year’s edition will be fashioned after previous editions – 10 startups will be selected after the close of applications for the challenge, receiving expert coaching and mentoring from industry experts, bank decision-makers, VCs and angel investors.
Thereafter, they’ll showcase their businesses and the three best startups will qualify for the finals, automatically winning 10,000 EUR cash prize each and a spot at Sibos in Toronto, Canada from October 16 – 19, 2017.
“FinTech companies are increasingly part of the fabric of Africa’s financial services industry. Now in its third year, Innotribe’s Startup Challenge for Africa plays an important role in finding the continent’s most exciting young companies, bringing them together with the financial sector and helping them grow,” said Sido Bestani, Head of Middle East, Turkey and Africa.
Startups interested in the challenge should apply by mid-March 2017. The successful applicants will be announced in April 2017.
The Innotribe Startup Challenge will be part of SWIFT’s African Regional Conference (ARC), which brings together policy makers, industry leaders and the broader financial community from across the African continent. It will hold in Abidjan, Ivory Coast from May 16 – 18, 2017.