BongoHive FinTech Challenge in Zambia

BongoHive FinTech Challenge in Zambia

BongoHive FinTech Challenge in Zambia

Do you have a FinTech business idea that addresses gaps in financial inclusion? Would you like to test that idea out with BongoHive and FSD Zambia?

If yes, then submit your applications for BongoHive FinTech Challenge to discover and develop the potential of FinTech startups in Zambia.

The BongoHive FinTech Challenge aims to support the growth of the digital economy and increase access to financial services for all Zambians, as a way to improve livelihoods.

The programme is implemented by BongoHive, with the support of FSD Zambia.

The Challenge is open to entrepreneurs who have a FinTech business idea or an early-stage FinTech startup that aim to address the gaps in financial inclusion.

The BongoHive FinTech Challenge will be implemented through two 1-day ideation sessions for 30 participants each.

20 participants from the two ideation sessions will be selected to take part in 5-day virtual Sprint Challenges where two winners will be picked.

Benefits

  • To qualify for the BongoHive FinTech Challenge programme you must be a FinTech or have an idea for a FinTech business.
  • 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) You can expect to develop your FinTech business idea and entrepreneurial skills through the ideation session and sprint challenge which involve:

  • Ideation
  • Business Modelling
  • Customer Identification
  • Financial Services Industry expertise
  • Mentorship from Industry experts
  • Business Development Support
  • Technical Support
  • Continued mentoring

    Categories

    The BongoHive FinTech Challenge open to idea-stage and early-stage FinTechs targeting or operating in any one or more of the following categories:

  • Payments
  • Insurance
  • Capital Markets
  • Lending
  • Financial Inclusion
  • Authentication
  • Blockchain
  • Cryptocurrencies
  • Business Solutions
  • Real Estate
  • Regulatory Tech
  • Personal Finance
  • Credit Scoring
  • Digital Banking

    Stages

    You can expect to develop your FinTech business idea and entrepreneurial skills through the ideation sessions and sprints which involve:

    IDEATION

  • 1-day virtual Ideation events
  • 60 Participants (30 in cohort 1 and 30 in Cohort 2)
  • 20 entrepreneurs/teams to be invited to virtual FinTech Sprint Weeks

    SPRINT

    Objective: Explore the potential of a business idea by validating the market and testing all assumptions

  • 5 day virtual sprint programmes
  • 20 entrepreneurs (10 from Cohort 1 and 10 from Cohort 2)
  • 2 winners (overall)

    SUPPORT

  • 8 weeks of idea development support and K20000 worth of technical support for the two winning teams.
  • Mentoring from BongoHive and FSD Zambia experts.

    Eligibility Criteria

  • The BongoHive FinTech Challenge is open to individuals or teams with an idea-stage or early-stage FinTech business that addresses the financial inclusion gap.

    The individuals or teams should be based in Zambia, and have a FinTech product/idea focused on Zambia.

    Apply by 10th June.

    For more information and application details, see; BongoHive FinTech Challenge in Zambia

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