On the 31st January, 2017 SWIFT Innotribe announced that its FinTech challenge for Africa startups.
SWIFT Innotribe is a global community that creates a platform for financial solutions, integrated with technology. According to SWIFT, the challenge which has been on for three years, would not only provide fund, but also networking opportunities with banks and VCs, to African FinTech startups.
For the third time, Innotribe will provide unique networking opportunities with banks and VCs to selected FinTech startups during SWIFT’s African Regional conference (ARC), taking place 16-18 May 2017 in Abidjan, Ivory Coast.”
The challenge is to run concurrently with the SWIFT’s African Regional Conference in Ivory Coast.
Applications received would be thoroughly screened, then 10 startups will be selected to showcase their products at the ARC, where they will receive coaching and mentoring from from experts and industry leaders.
During the showcase, the top 3 startups — who will emerge as finalists via audience nomination — would automatically secure their participation in Sibos; SWIFT’s annual global financial services conference, held in Toronto, Canada, from 16-19 October 2017. They would also be given €10,000 to launch their pitched fintech solutions.
Application closes mid-march 2017, and successful applicants would be announced in April.
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SWIFT Innotribe said ARC presents an unique forum for networking, education, discussion and debate, and as such is a great opportunity for fintech startups to connect with the broader financial sector.
“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 at Innotribe.
Calling Africa a “hotbed of fintech activity”, Fabian Vandenreydt, global head of securities at Innotribe and the SWIFT Institute at SWIFT, said: “Through the Startup Challenge, we want to spotlight innovation playing a role in the future of the financial industry across the continent and provide an opportunity for young African companies to use Innotribe’s global network to help them maximise their huge potential.”
Culled from Techpoint