Introduction
At the LHoFT, we strongly believe that financial technology is crucial to advancing financial inclusion, empowering groups that have been left behind by the traditional financial system. Whether it’s financing for rural farmers, point of sale technology for underbanked merchants, or specialised insurance products, the positive impact being driven by entrepreneurship is improving lives around the world.
Building on the success of previous experience, CATAPULT: Inclusion Africa is a unique program of Fintech startup development from the LHoFT, aligned with sustainability goals of Luxembourg’s finance centre. CATAPULT: Inclusion Africa will leverage Luxembourg’s Inclusive Finance and Fintech ecosystem to support the 12 selected firms in developing their businesses and achieving their inclusion goals.
Why Luxembourg
► Luxembourg is the European leader in responsible investment fund assets, accounting for 31% of funds and 39% of all assets under management, and has an extensive ecosystem of supporting initiatives and institutions
► The Luxembourg government is committed to the eradication of extreme poverty and support for sustainable development
► Luxembourg has exceeded official development assistance aid donations set by the UN’s Millennium Development Goals, committing an average 1% of gross national income over the past 5 years
► Luxembourg facilitated the establishment of the European Microfinance Platform and has spearheaded field research in the inclusive finance sector
► The Luxembourg government, together with the European Investment Bank and six other partners from the civil and private sectors, set up a Responsible Investing fund labelling agency, LuxFLAG
► Fintech in financial inclusion is a strategic focus area for the LHoFT aligned with the goals of Luxembourg
► The 2018 European Microfinance Award on “Financial Inclusion through technology” will be delivered on the 15 of November in Luxembourg
When?
1 week training and networking Bootcamp, hosted in Luxembourg in November 2018, for 12 Fintech firms working to improve financial inclusion in Africa.
Who?
The Bootcamp will leverage Luxembourg’s Inclusive Finance and Fintech ecosystem to support the 12 selected firms in developing their businesses and achieving their inclusion goals.
Why?
Fintech as a tool to bolster financial inclusion by helping banks and microfinance institutions to become more efficient and effective in reaching underserved market segments.
What?
Building on the success and experience of the Fincluders bootcamp in 2017, Catapult Inclusion Africa is a unique program aligned with the sustainability goals of Luxembourg’s financial centre.
How?
Delivered in collaboration with key stakeholders from the microfinance, sustainable finance and traditional finance sectors.
Get Involved!
Participate in CATAPULT: Inclusion Africa.
A unique opportunity to develop your company and seek investment.
Criteria
Startups selected could range from pre-seed to Series A stage. In general, the bootcamp is stage-agnostic as it aims to further support promising early-stage startups in the fintech for financial inclusion space and create synergies between them, partners, sponsors, investors, Microfinance institutions (MFI) and Public Financial Institutions (PFIs).
► Must be a Fintech company with a clear financial inclusion focus
►Should ideally be a solution that is directly beneficial to work in partnership with a traditional financial institution and/or MFI/PFI
►Must be delivering a solution directly applicable to the target region: Africa
►Should have a minimum viable product already that it would be capable to implement in a pilot project
►Should have meaningful customer or business validation (not limited to revenue, can also be successful pilot studies, number of users, and/or strategic partnerships)
►Must have a strong and well-balanced team. Key areas such as sales, technology development and operations should be covered internally
►Prior funding raised is an advantage but is not a limiting factor for the selection.
Closing date: 25 September 2018