Village Capital And MetLife Foundation Are Looking For Regional Fintech Innovations
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Calling all early-stage fintech entrepreneurs in the Middle East and Egypt. US-based Village Capital (a backer of entrepreneurs addressing social barriers) and financial inclusion development organization MetLife Foundation invite you to apply to their Financial Health Competition- an initiative that offers the region’s winning startups grants up to US$50,000.Part of a larger program launched by the two entities to build an ecosystem of financial inclusion upstarts in Poland, Ukraine, Turkey, and the UAE, the next leg of the series, a Financial Health Forum, is set to be held in Dubai on December 19, where startups selected from the region will compete for the top three slots ($25,000, $15,000, and $10,000, respectively), and also get an opportunity to make a difference in the financial sector with their solutions.
Commenting on the initiative’s mission, a spokesperson for Village Capital said the challenge aims to “uncover and drive more capital to early-stage fintech entrepreneurs building innovative solutions to improve the financial health of low to medium income individuals and families in the region, and [to] support an ecosystem for these fintech entrepreneurs to thrive.” The representative added that Village Capital is excited about startups in the Middle East in general and the UAE in particular, given that the region is endowed with “a young, educated and connected population, and has seen some big exits recently.”
For the Forum, the organizers say they are working with Step Group (the organizers of Step Conference), and are in the process of identifying additional regional partners to support the event, and provide longer-term guidance to the entrepreneurs working on local financial innovations. According to the organizers, participating ventures will have the opportunity to pitch their businesses to and engage with investors, and receive feedback from sector experts at the Forum. “Entrepreneurs will also work through a slice of Village Capital’s globally recognized peer-oriented curriculum, which is focused on scaling a successful business and raising investment capital,” notes the statement, which also adds that up to 10 enterprises will be shortlisted to attend the Financial Health Forum in Dubai.
To know more and/or to apply for a shot at the grant, visit here, and hurry as deadlines for applications close on November 10, 2017.