Village Capital Foundation in partnership with MetLife calls application for Finance Forward MENA 2020. The COVID-19 pandemic will have an unprecedented effect on the financial health of many in MENA, with low-income groups and small businesses heavily impacted. Applications for Finance Forward MENA 2020 are open to companies developing relevant products in response to the crisis.
Village Capital and MetLife Foundation are launching an investment readiness program for the Middle East and North Africa (MENA) and Turkey-based startups that are using tech to help low-income individuals and families manage their day-to-day finances, build short- and long-term savings and wealth. The accelerator is a collaboration between Village Capital, MetLife Foundation, and PayPal. The program is encouraging applications from entrepreneurs building high-growth, scalable solutions focused on the following regional challenges:
- Gender Inequality
- Youth Unemployment
- Assess to Finance for MSMEs
- Digital Identity
The benefits of Village Capital/MetLife Finance Forward MENA are as follows
- Top two (2) peer-selected startups will receive a MetLife Foundation Social Entrepreneurship Grant of $70,000 (USD).
- Ability to network and receive mentorship from potential strategic partners, customers, and founders.
- Ability to network and receive mentorship from MENA and Turkey-based investors.
- The diverse and inclusive network of mentors and founders within financial health and fintech.
- Startups will receive a stipend for one (1) founder/C-suite member to travel to selected emerging fintech cities in MENA and Turkey for workshops.
- 10-12 days of interactive workshops tailored to help your company identify early milestones and prepare for your next round of capital (if relevant).
- Access to an investment analyst who will coach you 1:1 on building a financial model, identifying unit economics, and on using financial metrics to drive both the business and investor diligence.
- Participate in mock board meetings with representatives from financial institutions, corporates, fintech, and investors that can help your organization scale.
- Exposure on Village Capital’s program website and other communications collateral.
- The for-profit market-based solution that tackles a financial health challenge for low-to-moderate-income communities in MENA or Turkey.
- Operations in or have the ability to expand the business to the MENA or Turkish market.
- Have a minimum viable product (MVP), and raised less than $1M in equity as well as have at least one full-time founder based in the MENA or Turkey.
- Have meaningful customer or business validation; (not limited to revenue, can also be successful pilot studies, number of users, and/or strategic partnerships).
Visit this link for more information.