Nigerian fintech startups have the opportunity to pitch for NGN3 million ($10,000) worth of incubation and prize money of NGN500,000 ($1,600) at the Fintech Startup Challenge in June.
The challenge will take place at the CardExpo event in Lagos from 13-15 June 2017, and is hosted in partnership with Nigeria Interbank Settlement System (NIBSS), AfriLabs and Venture Garden Group.
The aim is to identify, evaluate and support innovative ideas relevant to Enterprise, Governance and Social Development in Nigeria.
Selected fintech startups will get the chance to pitch to an audience of strategic players in the financial services industry at CardExpo. Winning startups will be offered three months of incubation and mentorship from Venture Garden Group, while three finalists will walk away with prize money.
Startups will also be offered the opportunity to access and test their payments solutions on an NIBSS demo-pad interface.
“We reckon that providing platforms to stimulate rapid growth of this sub-financial industry is a way to diversify the national economy and economically empower the youths. This opportunity will prove to be the new socio-economic equator in this era; opening up opportunities to driven youths who will work at building smarter, inclusive African societies,” the organisers said.