… Dangles $10,000 Equity-free Funding
Co-creation Hub launched the Fintech Innovation Programme in Rwanda in December 2021 with the first cohort ending in July 2022. The project, which is powered by Google, Mojaloop Foundation, and the government of Rwanda, is set to admit the second cohort of beneficiaries.
It is one of the initiatives designed to accelerate Rwanda’s digital transformation in order to drive inclusive economic development by leveraging technology as well as fostering a pan-African innovation ecosystem.
The second cohort of the programme seeks to support eight (8) startups within three months to achieve important growth milestones through the programme.
As part of this project, CcHUB will be supporting early-stage fintech startups and innovators, with at least an MVP, through a 3-month incubation programme. Selected companies will be supported with equity-free funding of $10,000 among other benefits.
In addition to the support and access to Mojaloop and Google resources, the incubation programme will create the opportunity for selected companies to receive further investment through the project partners’ investor networks.
To provide potential applicants with more information about the programme, CcHUB held an information session on Tuesday, July 19, 2022. Watch a playback here – https://bit.ly/FIP-infosessionvideo
According to CcHUB, eligibility criteria include:
- The startup must be headquartered and/or operating in Rwanda.
- An already launched product in the market or at least an MVP
- A registered business that has been in operation (since launch date) for at least 6 months
- At least one full-time and dedicated founder
- Equity-free funding up to $10,000
- Product, Market readiness and Investment support.
- Mentorship from industry and domain experts.
- Access to Google products and Mojaloop
- Access to a network of partners and investors from CcHUB
- Funding opportunities.
Eligible startups can access CcHUB’s website for further information on the applications which will be closing on August 4, 2022.