BongoHive FinTech Challenge 2020 for Fintech startups in Zambia

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Application Deadline: June 10th 2020

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?

The BongoHive FinTech Challenge seeks to discover and develop the potential of FinTech startups in 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 from to take part in 5-day virtual Sprint Challenges where two winners will be picked.

Challenge statements

In order to attract new ideas that address current challenges in the Zambian financial landscape, BongoHive held two insight formation workshops with FSD Zambia and various financial sector experts and stakeholders. The problems outlined in the link below, and therefore Challenge Statements, are as a result of the insights shared by the participants.

VIEW CHALLENGE STATEMENTS

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

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 

Cohort 1: 

22nd – 23rd June 2020

Cohort 2: 

29th – 30th June 2020

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)

Cohort 1:

13th -17th July 2020

Cohort 2: 

27th – 31st July 2020

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

August 2020

For More Information:

Visit the Official Webpage of the BongoHive FinTech Challenge 2020

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