Programme Dates
Starts
Monday, 20th January 2020
Ends
Thursday, 16th April, 2020
Programme Time
18:00Hrs – 20:00Hrs
Every Monday + one-on-one sessions with experts
Application Deadline
1st November, 2019
About FinTech4U
The FinTech4U Accelerator Programme is a 3-month accelerator programme. The programme is designed for entrepreneurs who have recently started a fintech or digital financial services business that has the potential to grow throughout Zambia and the regional market.
FinTech4U Background
The United Nations Capital Development Fund (UNCDF) aims to support the growth of the digital economy and increase access to financial services for all Zambians, as a way to improve livelihoods.
BongoHive seeks to catalyse the growth of Zambian entrepreneurship, innovation and technology through support programmes, workshops and events.
UNCDF and BongoHive partnered on a business accelerator programme, FinTech4U, that aims to address some of these challenges by working with 10 Zambian FinTechs that offer innovative and effective digital financial products and services to all Zambians, especially those that are traditionally underserved or “left behind.”
The programme begins with a call for applications from 4th October 2019 to 1st November, 2019. Classes for entrepreneurs will run from 20th January 2020 to 16th April, 2020.
Both UNCDF and BongoHive believe that by addressing these and other challenges, these FinTechs, SMEs and other stakeholders in the ecosystem will contribute to a stronger infrastructure to support the digital economy and thus improve the livelihoods and opportunities for Zambians.
Focus Areas
The accelerator programme will consist of a selection of 5-10 startups , operating in any one or more of the following focus areas:
Female-led businesses are encouraged to apply!
Payments
Insurance
Capital Markets
Lending
Digital Banking
Authentication
Blockchain
Cryptocurrencies
Business Solutions
Real Estate
Personal Finance
Credit Scoring
Regulatory Tech
Benefits 4U
New businesses, including FinTechs, need support in many areas to succeed and thrive.
In addition to technical assistance, each FinTech will receive $3000 to achieve milestones within the programme.
3 months intensive technical assistance + 3 months additional business support as needed
Regulatory Guidance by UNCDF in partnership with relevant regulators, including BoZ, ZICTA and SEC
Fintech Advisory by UNCDF, including Human Centered Design, Data Analytics, and others
Tax advisory by EY Zambia
Legal advisory by Musa Dudhia & Co.
High-Speed Internet Access by Liquid Telecom and MTN Zambia
Cloud Computing Credit with Amazon’s AWS or Microsoft’s Azure
Top Rate Class Sessions on Business Modeling
One-on-one Business Advisory Sessions
One-on-one Accounting & Finance Advisory
Top Rate Business Mentorship by industry leaders
Introduction to Funding, Promotion and Travel Opportunities
Free Co-working Space for 6 months
Valuation of company (meaning determining the value of the company)
How We Select U
To qualify for the FinTech4U programme you must be a FinTech.
A FinTech is defined as: a business that uses technology and/or data to bring a new product, service or business model in the financial services sector (including Business2Customer, Business2Business, Business2Government, etc)
- Have at least a minimum viable product (a product with just enough features to satisfy early customers and provide feedback for future product development)
Have been running from 3 months to 3 years
- Desire and ability to grow in and outside of Zambia
- Can demonstrate some sort of market traction (proof that somebody wants your product. Ideally, it should communicate momentum in market adoption)
- Special consideration for products and services that work to include traditionally under-served populations, such as rural communities, women and youth
- FinTech4U
Benefits 4U
- Contacts
+26 095 301 7526
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