Friday, 27th August 2021,
The BongoHive FinTech Challenge is an opportunity for FinTech entrepreneurs to develop new solutions that address financial inclusion gaps within the Insurance sector.
The Challenge is open to early or growth-stage entrepreneurs who have a microinsurance solution. The BongoHive FinTech Challenge will be implemented through (3) main phases, namely: Sprint Week (business focus), Coaching and a Product Sprint. Two winning ideas will be given technical support towards the development of a launchable prototype including access to necessary software support worth up to $28,000.00.
To qualify for the BongoHive FinTech Challenge: Inclusive Insurance Edition you must be an early- or growth-stage FinTech.
A FinTech is defined as a business that uses technology and/or data to bring a new product, service or business model in the financial services sector (including Business2Customer, Business2Business, Business2Government, etc). You can expect to develop your Inclusive Insurance product/service, FinTech and entrepreneurial skills through the Challenge, which will involve:
The BongoHive FinTech Challenge: Inclusive Insurance Edition is open to FinTech companies operating across a broad spectrum of categories, including, but not limited to:
The BongoHive FinTech Challenge aims to support the growth of the digital economy and increase access to financial services for all Zambians, as a way to improve livelihoods. The programme is implemented by BongoHive, with the support of FSD Zambia.
BongoHive is Zambia’s first technology and innovation hub. Established in May 2011 and based in Lusaka, the co-founders, all enthusiastic programmers, sought to address the gaps they experienced working within the local technology industry leading to a lack of coordination, skills exposure and productivity. BongoHive has evolved to assist scalable startups of any background by enhancing skills, accelerating growth, strengthening networks, increasing collaboration, providing a forum for ideas exchange and reducing the barriers to entrepreneurship.
FSD Zambia is a Zambian organisation working closely with key players throughout the economy to ensure that all Zambians are financially healthy, particularly the most excluded and underserved. We help rural families, women, youth, low income people, and other households in Zambia to understand and access a wide range of sustainable, comparable and affordable financial services. To expand financial inclusion, we collaborate with both public and private sector institutions to make financial markets work better.