Deadline: January 6, 2023
Village Capital is welcoming applications for the Financial Solutions Accelerator programme 2023 aimed at fostering innovation in South Asia, the Middle East, and Africa while expanding migrant workers’ access to financial services and job possibilities
Increasing the financial inclusion of migrants, including refugees, and focusing notably on women, Financial Solutions for Migrants is an accelerator for impact-driven entrepreneurs building innovative solutions. The Impact-Linked Fund for Gender Inclusive Fintechs (ILF for GIF) and the Impact-Linked Finance Fund handle this program
Financial Solutions Accelerator programme will:
- Define: Develop and refine an in-depth, contextualized understanding of financial inclusion challenges for migrant and particularly migrant women across Africa, the Middle East and South Asia. Results will be shared in a public-facing report;
- Accelerate: Identify and scale 30+ startups addressing those challenges through a combination of intensive in-person and virtual investment readiness training and platform-based long-term support. The acceleration will contribute to improving the ability of the products and services represented to fit the needs of migrant women; and
- Convene: Build and develop partnerships that drive broad awareness of the challenges and opportunities in this space, catalyzing investment, storytelling, and other essential support for these solutions
- Opportunities to network and receive mentorship from investors, strategic partners, founders, and business leaders.
- Build deep connections with other founders in your track and our larger Village Capital investor and alumni network. Participate in mock board meetings with representatives from relevant institutions, corporates, and investors that can help their organization scale.
- Interactive workshop weeks tailored to help their company identify early milestones and prepare them for their next round of capital (if relevant). All selected companies will receive post-program support from the Village Capital team
- One-on-one coaching with an investment analyst focused on building a financial model, identifying unit economics, and on using financial metrics to drive both their business and investor diligence.
- Exposure on Village Capital’s program website and other communications collateral.
- All selected companies will be screened for eligibility to receive funding from the Impact-Linked Fund for Gender-Inclusive Fintech
- Legal incorporation as a for-profit entity in an Sub-Saharan African / MENAT / South & Southeast Asian country
- Market-based solution that tackles the above listed challenges.
- Have at least a minimum viable product (MVP) and some traction under their belt. Relaxation made for products in development if value proposition showcased considered strong
- Have meaningful customer or business validation (not limited to revenue, also successful pilot studies, number of users, and/or strategic partnerships)
- Companies with founders of diverse backgrounds and products with a focus on women migrant consumers preferred
For further information visit Village Capital