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MIT and Mastercard Foundation Launch 2018 Zambezi Prize

Application deadline: June 1st, 2018:

The Zambezi Prize is a $200,000 competition that aims to unearth and celebrate the startups that are solving Africa’s biggest financial inclusion challenges.

The Rewards

The MIT Zambezi Prize for Innovation in Financial Inclusion is a global platform that supports Africa’s leading financial inclusion entrepreneurs with multiple rewards from funding to training opportunities.

Cash Prizes
Win $200,000 in cash prizes and get fast-tracked to MIT’s $1 Million Inclusive Innovation Challenge.

Join MIT Legatum Family
Join the MIT Legatum Center family and get recognized as a winner of the MIT Inclusive Innovation Challenge.

Investor + Mentor Access
Get introduced to investors and mentors from the MIT Legatum network of global leaders.

Attend Boot Camp
Attend the Zambezi boot camp at the MIT campus and boost your leadership skills.

Attend MIT IIC Global Gala
Join the MIT Inclusive Innovation Challenge (IIC) and attend the Gala in Boston.

Get Media Coverage
Get international media coverage for your startup and network with your peers.

10 Winners
The MIT Zambezi Prize for Innovation in Financial Inclusion honors and celebrates the top ten companies that are contributing to the advancement of financial inclusion in Africa.

Grand Prize Winner – $100k Cash
Zambezi Boot Camp in Boston Africa Winner of the MIT IIC Prize

1st Runner Up – $30k Cash
Zambezi Boot Camp in Boston Africa Winner of the MIT IIC Prize

2nd Runner Up – $30k Cash
Zambezi Boot Camp in Boston Africa Winner of the MIT IIC Prize

7 Finalists – $5,000 Each7 Finalists – $5,000 Each

The Challenges

In order to participate in the MIT Zambezi Prize for Innovation in Financial Inclusion, your company needs to address one of the following nine challenges.

Low Financial Literacy
Limited Access to Financial Institutions
Low and Unpredictable Income
Proof of Identity
Distrust in Financial Services
Difficulty in Meeting Unforeseen Shock
Limited Commercial Viability
Complex and Costly Partnership Agreements
Limited Financial Infrastructure.

 

Visit the official homepage here to apply now.

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