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Category: Startups

  • 2018 Ecobank Fintech Challenge for Startups: All you need to know

    2018 Ecobank Fintech Challenge for Startups: All you need to know

    Is your fintech startup ready to work with one of Africa’s biggest banks, one with operations across 36 countries on the continent? Then you have until 23 May to apply for the 2018 Ecobank Fintech Challenge. The challenge is open to any African startup.

    Through the challenge, Ecobank aims to showcase, collaborate with and support Africa’s most promising fintech startups.

    The 2018 Ecobank Fintech Challenge will see selected startups receive mentoring from leading experts as well as access to Ecobank’s banking ecosystem.

    The challenge winners will also be provided with the opportunity to showcase their solutions at Ecobank’s Innovation Fair — in front of Ecobank decision makers and industry insiders.

    The bank will also enter into commercial partnerships with selected startups. These partnerships are designed to grow and scale the selected companies.

    In addition, the selected startups also stand a chance to partner with the bank in rolling out their solutions to 33 countries.

    The inaugural challenge was held last year and saw 20 winners invited to an innovation fair and awards ceremony held in June 2017 at Ecobank’s headquarters in Lomé, Togo.

    Six challenge areas

    Interested fintech innovators have a choice of six challenge areas to apply to. These are:

    Digital on-boarding, account opening and Know Your Customer (KYC)

    Solutions that address remote or digital verification of customer data to enable real-time account openings, such as GPS address verification services, identification document, verification and matching with photographs.

    Remittances

    Solutions that increase inflow to Africa from other parts of the world, or delivery of instant transfers at secure, cheaper rates within Africa or across borders.

    These include areas such as international inward remittance to Africa, cross-border transfers within Africa as well as cross-border payments.

    Digital sales and marketing

    Solutions to drive sales or marketing campaigns of Ecobank products and services, such as the Ecobank Mobile App, Chatbot, internet banking and, USSD.

    The solutions must drive usage and adoption of Ecobank QR Push Payment at stores and locations, Xpress Cash Token on ATM or agent points, and Xpress Agency Banking.

    Offline mobile to mobile payments (dead zones)

    Solutions that enable customers to carry out mobile transaction services without internet, SMS or 2G connectivity. These types of solutions will typically use offline wallet systems.

    Multi-channel corporate payments and collections ecosystems

    Solutions that offer a multi-channel experience solution providing single user security and functionality for payments, collections, liquidity management, supply chain finance and trade finance, with multiple redemption points, mobile banking, wallet, bank account and ATM.

    SME Intra-Africa trade platform

    Solutions that improve international trade and e-commerce processes by facilitating KYC and anti-money laundering requirements.

    How to Apply

    Click here to apply for the 2018 Ecobank Fintech Challenge. You can read the terms and conditions on this page: http://ecobankfintech.com/terms-and-conditions/

  • ‘Pitch AgriHack 2018’ for Young and female entrepreneurs, win €15,000

    ‘Pitch AgriHack 2018’ for Young and female entrepreneurs, win €15,000

    The Technical Centre for Agricultural and Rural Cooperation (CTA), with the support of the African Development Bank (AfDB), in collaboration with the African Green Revolution Forum(AGRA), Women in Tech Africa, Wennovation Hub (Nigeria) and Suguba (regional), is launching Pitch AgriHack 2018. The theme for this year’s edition is “Women entrepreneurs innovate for agricultural transformation in Africa, the Caribbean and the Pacific”.

    The competition is open to both male and female founders and co-founders of e-agri start-ups, and, more specifically, to companies owners of platforms (websites, apps, devices using software, etc.) offering digital services to the agricultural sector. Applicants need to be nationals and residents of African, Caribbean and Pacific (ACP) countries signatories of the Cotonou Agreement (see list in the rules). 50% of finalists will be women founders or co-founders of start-ups; discussions at the final will include issues around strengthening the engagement of young women in agricultural technology innovations. Applicants must be aged between 18 to 35 years old. The finale will be held during the 2018 edition of the African Green Revolution Forum (AGRF 2018), organised by AGRA and other partners, in Rwanda in Septembre 2018.

    Pitch AgriHack will:

    • provide a business training boot camp to selected start-ups
    • conduct a pitching competition
    • offer grants and facilitate access to investments, capacity building and promotional opportunities.

    Two categories are available:

    • Early stage platform

    This is for e-agriculture applications and platforms that have already been developed but that may still need software or business model improvements. Participants must be able to demonstrate the business potential and functional features of their applications or platforms.

    • Advanced platform

    This category is for e-agriculture applications and platforms that are already in operation and generating revenues.

    Special prizes will be awarded in each of the two categories to woman-owned or co-owned businesses.

    The platforms can be websites or apps, and they must offer digital services to the agricultural sector. They can also be hardware associated with software and both will be described.

    Prizes and other benefits

    Up to nine winning companies (including up to five women-led companies) will receive from CTA, AfDB and partners involved a cash prize of up to €15,000 (per start-up), as well as promotional support, additional capacity building and networking opportunities. Some may eventually also benefit from investments from other partners. For more information on prizes, check this page on the Pitch AgriHack blog.

    Application process

    Start-ups will provide details on problems addressed, the technical solution proposed, key metrics, customer segments targeted, unique value proposition compared with the competition, cost structure, revenue streams and other business strategy inputs. They will also demonstrate that they are incorporated or that they will close the process a month before the final.

    To register, check the page Get Involved

    Selection process

    Applications will be screened by teams of business experts and investors.

    Key Dates

    • Deadline for registration: 21 May 2018
    • The announcement of finalist start-ups: by 15 July 2018
    • Boot camp and pitching events (final): 03 to 07 September 2018 at AGRF 2018.

    About Pitch AgriHack

    Pitch AgriHack is part of the AgriHack Talent initiative of the Technical Centre for Agricultural and Rural Cooperation (CTA) and aims at accelerating e-agriculture entrepreneurship for improved livelihoods in the African, Caribbean and Pacific (ACP) countries. Co-designed with young innovators and partners from ACP countries, it has included:

    • Competitions to develop ICT applications for agriculture (hackathons) when there is a need;
    • A start-up competition (called Pitch AgriHack) targeting young companies already offering e-agriculture services;
    • Capacity building, mentorship and incubation opportunities;
    • Promotional and networking opportunities;
    • Facilitation of access to grants and investments to scale-up services offered.

    The ultimate objective is to contribute to the transformation of the agricultural sector and promotion of youth employment. It is expected that eventually, best start-ups involved will offer effective services to hundreds of thousands of farmers and agricultural stakeholders ACP countries. The programme is being implemented in collaboration with key national and international institutions, multinational private sector bodies, investors, incubators.

    CTA is funded by the European Union (in the framework of the ACP-EU cooperation). The AfDB is leveraging support to the activity via funds provided by the Korean Government via the Korea-Africa Economic Cooperation (KOAFEC)) facility.

    Other partners involved in the organisation of the competition include Jokkolabs (international network), Impact Hub Bamako (Mali), Impact Dakar (Senegal), BongoHive (Zambia).

    For more details and to partner with the programme, send a mail to [email protected]