Southern Africa Innovation Bridge Portal (IBP) Fintech Challenge 2023 for entrepreneurs in Southern Africa
Southern Africa Innovation Bridge Portal (IBP) Fintech Challenge 2023 for entrepreneurs in South Africa. Search below.
When is the application deadline?
19 March 2023
Type:
Entrepreneurship
Which countries are eligible?
Southern African countries
How are applicants selected?
We want to grow best-in-class entrepreneurs and their startups.
If your business is in the concept stage, that’s okay, as long as you’ve thought through the concept from the back to the front, and identified potential obstacles. We don’t mind the obstacles – after all, we want to change the face of Financial Services – and we’re looking for the bold people who dare to tackle them.
Our team reads every word in every application. Be concise and to the point, and try to avoid marketing language. Marketing language is irrelevant, and can actually detract from the credibility of your concept.
Before submitting your application, read through your answers and make sure that they do not contain unnecessary words, while at the same time that all relevant information is captured in a factual manner.
How many prices?
10
What is the value of the prize?
The ten winning entrepreneurs in the challenge will be:
- matched with potential investors/ecosystem partners,
- guided by industry experts,
- awarded a cash prize of $5,500,
- provided with investment readiness support, and
- given access to Thinkubate, a startup incubation support platform that offers educational content.
Key dates for the Fintech Challenge
Please be aware of the following process before applying, as you commit to participating in the three-month process.
- March 19, 2023: Applications are closed
- 27–30 March 2023: 40 businesses will be selected to participate in panel interviews
- The panel sessions will last 25 minutes.
- The successful long-listed candidates must prepare a 5-minute presentation about their business.
- There will be 20 minutes for questions and answers.
- April 6–18. May 2023: Out of the 40 shortlisted start-ups, 20 start-ups will be selected to participate in an investment readiness programme, which includes seven workshops of 3 hours each.
- 1 June 2023: Submission of a 5-minute pitch presentation video.
- 14 June 2023: Demo day.
- 22 June 2023: Investor and Startup Ecosystem Matchup Event – The World Bank will announce the top 10 recipients of the prize money and incubation support.
How to apply?
Search below
Video instructions:
1. 1-2 minute video
In the video please introduce yourself, explain what you do and why, and tell us anything else you want about the founders or the project. The video should not exceed 120 seconds.
2. YouTube
Post your video on YouTube. You must copy the URL once it is uploaded and share it in the last question in the application. If you don’t want others to find it, mark it as unlisted. Don’t mark it as private or don’t allow embedding or we can’t see it. For step-by-step instructions on how to upload an unlisted video, see this link.
3. No post-production or music
The video should not contain anything other than the founders talking. No screens or background music.
4. Keep it simple
It’s good to have talking points to communicate your messages within the time frame, but remember that we want to get to know you better. Let your personality shine through.
5. Sound check
Before submitting the video, you should try playing it yourself and check that you can hear what you are saying.
GOOD LUCK!
