Southern Africa Innovation Bridge Portal (IBP) Fintech Challenge 2023 for Entrepreneurs in Southern Africa. Apply below.
Table of Contents
When is Application Deadline?
19th March 2023
What Countries are Eligible?
Southern African countries
How are Applicants Selected?
We’re looking to grow the best in class entrepreneurs and their startups.
If your business is in concept stage, that’s ok, as long as you’ve thought through your concept from back to front, and identified potential obstacles. We don’t mind the obstacles – after all we want to change the face of Financial Services – and we are looking for those bold individuals that dare to tackle them.
Our team reads every word of every application. Be concise and to the point, and try to avoid marketing language. Marketing language is irrelevant, and might actually deter from the credibility of your concept.
Before submitting your application, read through your answers and make sure that they don’t contain any unnecessary words, and at the same time, that all the relevant information is captured in a matter-of-fact way.
How many Awards?
What is Value of Award?
The ten winning entrepreneurs of the challenge will be:
- match-made with potential investors/ecosystem partners,
- mentored by industry experts,
- awarded a $5500 cash prize,
- provided with investment readiness support, and
- given access to Thinkubate, a startup incubation support platform providing educational content.
Key Dates for the Fintech Challenge
Please be aware of the following process before you apply, as you will be committing to participate in the three-month process.
- 19 March 2023: Applications close
- 27-30 March 2023: 40 businesses will be shortlisted to participate in panel interviews
- The panel sessions will be 25 minutes long.
- The successful long-listed candidates will need to prepare a 5-minute presentation about their business.
- There will be 20 minutes for questions and answers.
- 6 April-18 May 2023: Of the 40 shortlisted startups, 20 startups will be selected to participate in an Investment Readiness Programme, which include seven workshops of 3 hours each.
- 1 June 2023: Submission of 5 minute pitch presentation video.
- 14 June 2023: Demo Day.
- 22 June 2023: Investor and Startup Ecosystem Matchup event- World Bank will announce the top 10 recipients of the cash prize and incubation support.
How to Apply?
1. 1-2 minute video
In the video please introduce yourself, explain what you’re doing and why, and tell us anything else you want to about the founders or the project. The video should not exceed 120 seconds.
Post your video to YouTube. You will need to copy the URL once uploaded and share it in the last question of the application. If you don’t want other people to find it, mark it as unlisted. Don’t mark it as private or disallow embedding, or we won’t be able to see it. For step by step guidance on how to upload an unlisted video, please see this link.
3. No post production or music
The video should contain nothing except the founders talking. No screenshots, or background music.
4. Keep It Simple
It is good to have talking points to communicate your messaging within the timeframe, but remember we want to get to know you better. Let your personality shine through.
Before submitting the video, you should try playing it yourself, and check that you can hear what you’re saying.