Innotribe Startup Challenge

Application Deadline: March 18th 2016

SWIFT has announced the launch of the Innotribe Startup Challenge for Africa is open for applications. For the second year running, the Innotribe Startup Challenge for Africa will be part of SWIFT’s African Regional Conference (ARC) held in Mauritius from 17-19 May.  

The Innotribe Startup Challenge gives young African financial technology startups the opportunity to showcase their products and receive expert coaching and mentoring. Twelve companies will be selected to compete in the event, with three finalists selected to attend Sibos, SWIFT’s annual global financial services conference. At Sibos, which takes place from 26-29 September in Geneva, the finalists will share the stage with fintech experts and receive a 10,000 USD cash prize each.

• The challenge is open to innovative technology and technology-enabled financial services companies that are headquartered in Africa and Latin America working in areas such as payments, securities, trading, social media tools, big data/data analytics, security, identity, b2b or b2b2c mobile, small business apps & services &/or IT infrastructure.
• Consulting and outsourcing firms are not eligible.
• A company that already applied for previous Startup Challenge editions (Alumni) can re-apply to participate in the competition where the company has a new product to present.
• All applicants must also have a demonstrable “beta” product (no concept, products or services will be accepted).
• Note: Applicants not selected as semi-finalists for a given showcase may re-apply to be evaluated for subsequent showcases.

Benefits:

All Applicants

• Their submission will be evaluated by highly qualified industry experts, bank decision-makers, venture capitalists and angel investors, who will provide an accurate assessment of the company and the product.
• They will also receive feedback and comments/ideas from the reviewers, allowing judges to get in touch with the companies if they find the ideas they reviewed of interest to the companies they represent.
• The showcase participants Up to 12 startups will be invited to each regional showcase and will receive:
• The opportunity to make a 10-minute pitch (including Q & A) to an invitation-only audience of 200-300 financial industry executives, investors and media during one of SWIFT major regional conferences
• Promotion to SWIFT’s 10,000 member organisations and introduction to members who
  express interest in meeting with representatives from your company
• Coaching sessions with our Startup Challenge judges to refine your pitch before the
  competition

• Invitations to a post-competition networking event to connect with investors, executives from participating institutions, and sponsors. The sponsors and partners may provide additional prizes or awards for semi-finalists.

  The 3 winning companies selected at the showcase will, in addition,receive:
• A prize of 10,000 USD, which will be announced during the networking event after the
  showcase?
• The opportunity to showcase your product to the financial community at large during Sibos, the world’s premier financial services event in Geneva in September 2016. This includes:
• Two complimentary week passes to attend Sibos in Geneva (value of approx. 3,200
  EUR each)
• Reimbursement for economy air fare and hotel expenses to attend Sibos for two
  company representatives staying in an official Sibos, Food and beverages excluded
• The opportunity to make a 10-minute demo pitch to an audience of dozens of financial
  industry executives, investors and media
• Marquee exposure to SWIFT’s 10,000 member organisations and introductions to
  members who express interest in reserving a private meeting
• Coaching sessions with competition judges
• Invitations to a networking event to network with investors, executives from
  participating institutions and sponsors
• The sponsors and partners may provide additional prizes or awards
• Promotion via SWIFT marketing channels

Re-Imbursement

• Startups selected as regional showcase participants will receive reimbursement of expenses up to 2,000 USD. This is to cover flights and accommodation to attend the showcase. Any expenses over this amount will need to be covered by the participating companies.
• For Sibos, the organizers will reimburse the cost of twin hotel accommodation from 25 to 29 September inclusive (5 Nights), in an official Sibos hotel, and the cost of 2 return economy airfares. Food and drinks are not included.
• All expenses will be refunded after the production of the original receipts following the SWIFT expense process.

• To apply, just create an account here and complete your profile (registration form). You will then have access to the application form and to see which information is required. You’ll be able to edit your application at any time until you submit it. You will need to:

• Complete the registration and the application forms with information about your company,innovation, funding, your competitors, and any awards you have won
• Upload a clear and detailed pitch deck (PowerPoint or PDF) about your company and innovation for our judges to evaluate. Note: This information will only be accessible to Startup Challenge administrators and judges

• All semi-finalists and finalists must demonstrate extraordinary potential to deliver significant sustaining or disruptive innovation to the global financial industry.

For More Information:

Visit the Official Webpage of the Innotribe Startup Challenge 2016