Rikus Grobler | Oct 18, 2017 | 0
Innotribe calls on the best startups
Innotribe opened its Startup Challenge for Africa and is currently looking for the best startups to showcase their products during SWIFT’s African Regional Conference (ARC) to be held in Mauritius from 17-19 May.
SWIFT announced early this week that the Innotribe Startup Challenge for Africa is open for applications and for the second year running, the Innotribe Startup Challenge for Africa will be part of SWIFT’s African Regional Conference.
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 US$10,000 cash prize each.
Fabian Vandenreydt, Global Head of Securities, Innotribe, and the SWIFT Institute at SWIFT said, “With a billion-plus population, an emerging middle class, fast economic growth and a high expansion of both internet access and mobile penetration, Africa is a hotbed of fintech activity with a lot of ideas, resources and talent still to uncover.”
“Through the Startup Challenge, we want to spotlight innovation playing a role in the future of the financial industry across the African continent and provide an opportunity for young fintech companies to use Innotribe’s network and alumni to help them develop to the best of their potential,” he added.
Launched in 2011, the Startup Challenge has become one of the leading global startup competitions, connecting the financial services industry with more than 650 fintech startups around the world and reaching over 4,000 audience members through global showcases and networking events.
Last year for the first time Innotribe, SWIFT’s innovation arm, partnered with ARC to bring the Startup Challenge to Africa, showcasing vibrant businesses and a genuine spirit of innovation. It highlighted how much SWIFT’s member institutions are keen to understand the fintech innovation that is happening in their own communities and the importance for local startups to benefit from in-depth industry feedback and gain exposure at a global stage.