Apply to Ecobank’s $500,000 Fintech Funding

Apply to Ecobank’s $500,000 Fintech Funding
January 26, 2017 234Finance

Ecobank is challenging Africa’s new generation of entrepreneurs to find lasting solutions to the continent’s most pressing banking issues. Submit entries in one or more of these key areas of interest for your chance to win up to $500,000 funding.

Fintech Challenges & Pain-point
Teams are to submit applications addressing one or more of the following challenges:

  • Predictive analysis using big data
  • Agency banking
  • Secured client authentication
  • Apps to work without internet connectivity
  • KYC technology
  • Customer analytics
  • Credit scoring
  • Micro Loan System
  • User experience optimizing solutions using machine learning and AI
  • Blockchain technology/solutions within Banking
  • Any other fintech solution.

The Challenge consists of three main phases:

  • Phase one: a pan-African competition. Open to all African tech innovators and entrepreneurs
  • Phase two: an Innovation Fair and Awards Ceremony. For selected top applicants only.
  • Phase three: post-competition Opportunities & Collaboration with Ecobank. For only selected top products.

Eligibility & Participation
The Challenge is open to both teams and individuals. Teams can submit solutions for more than one challenge but are limited to only one entry per challenge. A total of 20 teams will be selected for the Ecobank Fintech Challenge event, which will be held at the global headquarters of Ecobank in Lomé in May, 2017.

Individuals are not allowed to participate in multiple teams. Switching teams after applying is not allowed. Ecobank will cover travel and accommodation costs for up to two participants from each team.

Benefits of this opportunity

  • You become an Ecobank Innovation Fellow and you enjoy mentoring by leading experts.
  • You have the opportunity to attract funding of up to $500,000 for your solutions
  • You get to partner with Ecobank in rolling out to over 36 countries.
  • You get to showcase your idea at Ecobank Innovation Fair.
  • You also get the chance to give your startup full Pan African visibility.

Application Deadline: 14th of April, 2017.

Apply Here

Image Source: Ecobank Fintech

Author: 234Finance

234Finance is an online hub that promotes African Entrepreneurship. We feature small and medium sized businesses on the platform, shedding light on the current and future developments in diverse sectors across Africa. We also provide free resources, share opportunities and events on our platform that entrepreneurs can benefit from and thrive in Africa’s tough business landscape.

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