The EcoBank Fintech Challenge invites developers and innovators with bright fintech ideas to share their vision for creating Africa’s next big fintech solution. Up to $500,000 will be awarded to technical entrepreneurs who successfully present the most interesting and sustainable solutions.
Application deadline: July 7, 2024
Eligible countries: African countries
Available for download in (country): The top teams will be selected to present at the bank’s Innovation Expo, which will be held at Ecobank’s global headquarters in Lomé.
Eligible fields: Teams should submit applications that address one or more of the following challenges
- Customer Experience
- Economic Inclusion
- Credit score
- Ecosystem accumulation
- Internal tools
- Payments
- Any other relevant product categories
About the EcoBank Fintech Challenge: The Ecobank Fintech Challenge identifies and partners Fintechs who are ready to scale and provides them with support and access to opportunities in Ecobank’s 33 African markets. The target? To contribute to their development as potential pan-African Fintech success stories.
The Challenge is open to all Fintechs on the African continent. Interested Fintechs can apply by sending their product details as well as a demo here. These products should address one or more of a specific set of pain points that can be found here.
Selected finalists participate in the Ecobank Fintech Innovation Fair, with the top 3 finalists winning cash prizes. All finalists join the Ecobank Fintech Fellowship, which gives them the opportunity to explore deals, integration and commercial collaboration with the Ecobank Group.
Type: Contest
Eligibility:
- All African startups and technology innovators are eligible to apply for the EcoBank Fintech Challenge. They must choose from different areas of interest as listed on the website and create a demo to serve as a prototype — applicants without a demo will be disqualified.
- The Challenge is open to both teams and individuals.
- Teams may submit solutions for more than one challenge, but are limited to a single entry per challenge (“Entry”).
- Individuals are not allowed to join multiple groups. It is not allowed to change groups after applying. Ecobank will cover travel and accommodation expenses for up to two participants from each group.
Number of Awardees: 20 teams
Contest Value:
Become a finalist. register as an Ecobank Fintech Fellow and have the opportunity to explore the following opportunities:
- Multinational Product Launch: A once in a lifetime opportunity to further integrate with Ecobank and potentially launch products in over 30 Ecobank markets across Africa.
- Contest Cash Prizes: The final winner will receive a cash prize of $50,000.
- Service Provider Partnerships: Startups can be selected by Ecobank as local country partners in any of Ecobank’s 33 country ecosystems.
- Access to Ecobank’s Pan-African Banking Sandbox: Fellows will have access to a dedicated team to support Ecobank’s API testing so they can improve their products for the Pan-African market.
- Access to Partner Network: Founders will be inducted as Ecobank Fintech Fellows, giving them access and relationships to a vast network of global and African accelerators and potential investors as well as advisors.
- Integration with existing Ecobank digital offerings: The EcoBank Fintech Challenge offers opportunities for Fintechs to potentially integrate with Ecobank’s existing digital offerings. Existing digital offerings include Ecobank Omni, Ecobank electronic financial supply chain (eFSC), Ecobank Xpress, Ecobank Mobile APP or USSD, MasterPass™ QR, mVISA™ & mCash etc. You can learn more about these platforms HERE. We would like applicants to show us how their solutions can add value to these existing Ecobank digital offerings.
How to apply for the EcoBank Fintech Challenge: Interested participants can apply below
Visit the EcoBank Fintech Challenge webpage for details
This post was last modified on June 9, 2024 9:46 pm