Ecobank has announced the opening of its 2022 Fintech challenge.
Fintech entrepreneurs and developers from all over Africa are encouraged to dive into this opportunity.
About the Competition:
The challenge was established in 2017 and is backed by partners from within and outside Africa who share the collective goal of contributing to the growth of Pan-African fintech. This year, a cash prize of $55,000 is up for grabs by finalists who meet up to the set criteria and perform exceptionally well during the competition.
While the deadline for registration is September 16, the challenge is meant to last until late October when finalists will not only receive cash prizes but will also move on to be inducted into the bank’s Fintech Fellowship, where they will be exposed to deals, integration and commercial partnership with the Ecobank Group.
Criteria for Joining the Challenge:
All Fintech companies, both old and new, are welcome to apply and participate in the competition, however, they must each offer solutions to either of the following problems:
• Consumer experience
• Financial Inclusion
• Credit scoring
• Ecosystem aggregation
• Internal tools
• Payments or any other relevant product categories.
Stages of the Challenge:
Following the successful completion of application, applicants will proceed through the following phases:
• Phase one (Mid-October, 2022): Pan-African competition; open to all African tech innovators and entrepreneurs.
• Phase two (Late October, 2022): Innovation fair and awards ceremony for selected top applicants.
• Phase three (November, 2022 – April, 2023): Post-competition oppurtunities and collaboration with Ecobank for selected products.
Why you should Apply:
All participants stand the chance to enjoy exposure and maximized visibility during and after the competition. However, finalists will enjoy extra benefits such as:
• Cash prize and startup funding.
• Multinational product rollout and visibility across 36 countries in Africa.
• Service provider partnerships.
• Mentoring and networking support.
Applicants are required to submit details of their product as well as a demo here. For more information about the challenge, you may visit their website or follow them on twitter.
