Deadline: April 30, 2022
Application is open for the NTF V Challenge for African Digital Entrepreneurs and Tech Startups. They target startups improving access to smartphones in Africa through innovative business and partnership models. In Africa, smartphones remain inaccessible for most of the population since the average cost of a low-end smartphone still exceeds 60% of the average monthly income. The ITC NTF V challenge is looking for African startups facilitating access to smartphones and smart feature phones through device financing models. Mobile penetration is key to driving economic growth, connecting the unconnected, and building digital-savvy nations. Despite a growing mobile broadband coverage, more than 520 Million Africans do not enjoy internet services, device affordability is one of the major barriers.
VivaTech is the world’s rendezvous for startups and leaders to celebrate innovation. This international event is a gathering of the world’s brightest minds, talents, and products and is a celebration of today’s innovations and tomorrow’s possibilities for everyone who believes in the power of technology to transform business and society. VivaTech is dedicated to the growth of startups, hosting more than 13 000 of them and enabling them to present their innovation on the market.
- Formally registered African digital startup working in the African market, revenues a plus, with track record in smartphone financing
- Well defined and big market size
- Strong team with complementary skills and strong managerial and operational experience
- Scalable solution
- Viable and innovative business model
- $5000 cash prize
- They sponsor you flight and back
- connect to the entrepreneurial tech ecosystem in the African country your challenge covers.
- Linkages with VCs and industry players from their network
Expected Solutions can vary from but are not limited to:
– Bi and tripartite partnership models to finance smartphones
– Digitized smartphone loans/installment schemes
– Mobile phone lending against services (ride-hailing, etc)
– Buy Now Pay Later models
Mobile financing plan, credit, BNPL, Mobile devices lending