Fintech startups can win up to $1m in investment at the Global Startup Challenge 2017
Applications are open for financial technology (fintech) startups worldwide to win up to a million USD in investment at the Global Startup Challenge 2017.
Powered by Edge 196, a global startup platform for entrepreneurs’ development which provides startup and technology related news from 196 countries, the challenge runs through 26 global clusters (192 countries). Three startups from each cluster are invited for an online pitch and one finalist from each cluster is selected and offered the term sheet and acceleration programme run by one of their global partners.
The Lagos cluster is focused on fintech startups from 27 countries across Africa, based on the maturity of the ecosystem in the selected countries.
The winning startups from each cluster will get an investment of 50,000 USD, and one potential startup from around the globe will get an equity based investment of 1 Million USD. Other potential startups will be facilitated and introduced to the most fitting global markets.
Eligibility criteria include: 1) a prototype of validation in the market; 2) traction in terms of revenue/clients; 3) not more than three years old; 4) the potential to go global, and 5) a team of two working on the project.
Selection criteria include: 1) Problem solving – startups with a simple solution and a powerful impact; 2) Team – passionate founders that believe in the vision; 3) Innovation – technology behind the original solution and scope, and 4) Global scalability – sustainable startups that have scalable models.
Other sectors aside fintech covered by the competition include Futuretech, Biotech, Agri/Foodtech, Edutech and Social Impact. If you operate in these sectors, look out for the competitions coming up soon.
Applications close November 12th 2017. If you are a Fintech, and you meet the above criteria, apply here
Chiamaka Akuba34 Posts
Chiamaka Akuba is a graduate of Mass Communication of the University of Lagos, Nigeria. She is passionate about emerging markets and entrepreneurship and is actively working with the industry. She loves her conversations challenging and can’t help laughing when you call her ‘Honourable Writer of the Federal Republic'. Chiamaka is a Staff Writer at Outrepreneurs.