Sunday, 13 March 2016

Innotribe Startup Challenge in Africa and Latin America


Innotribe has opened up its Startup Challenge for Africa and Latin America and is looking for the best startups to showcase their products during SWIFT’s African (May 2016) and Latin American (June 2016) Regional Conferences respectively as well as its Global Financial Services Conference (Sibos) in Geneva (September 2016).

The Innotribe Startup Challenge gives young financial technology startups the opportunity to showcase their products and receive expert coaching and mentoring. 


DEADLINE

Africa: March 18, 2016.
Latin America: April 22, 2016.


PRIZES

Up to 12 startups will be invited to each Regional Conference 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 the 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 3 winning companies of each Regional Conference Showcase will also receive:

A prize of $10,000 and

The opportunity to showcase your product to the financial community at large during SWIFT’s annual Global Financial Services Conference (Sibos) 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 hotel. (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 
  • 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 
  • Promotion via SWIFT marketing channels 

The Innotribe Startup Challenge sponsors and partners may provide additional prizes or awards.


ELIGIBILITY

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.


JUDGING CRITERIA

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

Selection of companies for the Regional Showcases

Multiple judges (such as highly qualified industry experts, bank decision-makers, venture capitalists and angel investors) will evaluate and rank each applicant. Applicants should provide complete and clearly stated information in their pitch-decks, as they may be scored and ranked lower if there is insufficient information.

Applicants will be evaluated in two separate pools – early-stage and growth-stage startups – for each individual showcase.

Judges will evaluate each applicant according to their G/Score and the potential impact the company’s innovation can have for the financial institutions and corporations that are members of SWIFT’s community and the financial industry in general.

Overall rankings and feedback (if any) will be provided to each applicant, allowing judges to get in touch with the companies if they find the ideas they reviewed of interest to the companies they represent.

Selection of companies invited to showcase during Innotribe at Sibos 

At the end of each Regional Conference Showcase, the audience will vote for the most promising companies - the top 3 will secure their place to showcase their innovation during a session on the Innotribe stage, taking place at SWIFT’s annual global financial services conference (Sibos).

A total of 6 Companies (3 per showcase) will be selected to participate in sessions on African and Latin American Innovation.


OTHER KEY DATES

Africa: The successful applicants will be announced in April 2016.
Latin America: The successful applicants will be announced in May 2016.

SWIFT’s African Regional Conference (ARC) will take place in Mauritius, from 17-19 May 2016.

SWIFT’s Latin American Regional Conference (LARC) will be take place in Mexico City, from 28-29 June 2016.

Sibos takes place from 26-29 September in Geneva.


APPLICATION PAGE



Source and Photo Credit: http://innotribe.com/ and https://www.swift.com/