The GSER 2020 Report pointed out Egypt’s thriving startup ecosystem offering great opportunities and attracting the largest number of deals within the MENA region. Egypt has the highest mobile user penetration in the MENA region at 95 million – creating additional 14 million wallets. Other factors that work in its favor are the youthful population and several government-led financial initiatives.
To build on that Egypt’s Information Technology Industry Development Agency just teemed up with Visa in an effort to support 10 entrepreneurs and startups who are specialized in fintech with business mentorship and technical training. A $20,000 prize will be up for grabs for the winner.
Fintechs encouraged to apply are in the fields of insurance, financial inclusion, merchant acceptances, digital payments, settlements, and authentications. ITIDA-Visa Mentorship Programme enhances cooperation in entrepreneurship while encouraging startups to develop innovative fintech solutions. The startups shortlisted will benefit greatly from Visa’s partner network that empowers businesses while enhancing the customer experience.
Once enrolled participants stand eligible for Visa’s programming development interface (APIs) that enables integration with Visa’s global network while experimenting with its sandbox. A $20,000 prize is offered for the top-performing startups that have completed their technical training and mentorship. This scheme addresses business models, the market review requirements, and the best methodologies suited for Visa’s network.
Applications will remain open till the 3rd of March.
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