Village Capital Financial Solutions for Migrants Accelerator Program

Opportunity Detail

  • Gender MaleFemale
  • Level Non-Degree /Short program
  • Number of Opportunity: 36
  • Eligible Region/Countries
    Middle East and North Africa (MENA), Turkey, Sub-Saharan Africa, South, and Southeast Asia
  • Medium of Instruction English
  • Field of study Entrepreneurship and Finance
  • Opportunity ID 64932
  • Funding Type Partially Funded
Advertisement

Opportunity Description

The Village Capital accepts applications for the Financial Solutions for Migrants Accelerator Program. This program supports innovations across Africa, South Asia, and the Middle East to improve migrant access to financial services and employment opportunities.

The Financial Solutions for Migrants specifically supports start-ups with impacts to develop meaningful and bold solutions that increase the financial inclusion of migrants and refugees, especially targeting women.

Impact-Linked Fund for Gender Inclusive FinTechs (ILF for GIF) is the program’s funding body, and Impact-Linked Finance Fund manages this financial innovation. 

Sponsored links

The Financial Solutions for Migrants will develop and refine the understanding of financial inclusion challenges for migrants, identify and scale 30-36 start-ups addressing those challenges, and convene partnerships that increase broad awareness of opportunities and the challenges relevantly. Also, this program catalyses storytelling, investment, and other essential support for these solutions.

Applicants from the Middle East and North Africa (MENA), Turkey, Sub-Saharan Africa, and South and Southeast Asia can apply for this program by 06 January 2023. 

Details 

  • Application Deadline: 06 January 2023 
  • Virtual Workshops: March-May 2023
  • In-Person Program Summit: June 2023
  • Summit Location: Istanbul, Turkey
  • Host Organization: Village Capital 
  • Funding Organization: Impact-Linked Fund for Gender Inclusive FinTechs (ILF for GIF)
  • Managed By: Impact-Linked Finance Fund
  • Gender: Male/Female
  • Funding Type: Partially-funded  
  • Number of Positions: 36
  • Degree: None  
  • Eligible Countries: MENA, Turkey, Sub-Saharan Africa, South, and Southeast Asia 
  • Program Duration: N/A
  • Language Required: English  
  • Fields: Entrepreneurship and Finance

Benefits

Start-ups will benefit from the Financial Solutions for Migrants as follows:

  • Receive mentorship from investors, founders, strategic partners, and business leaders;
  • Make strong connections with Village Capital investors, other founders in their track, and the alum network. Take part in mock board meetings with representatives from corporates, investors, and relevant institutions that can help their organization scale.
  • Attend workshop weeks to help the company identify early milestones and prepare for its next round of capital.
  • One-on-one coaching on investment analysts on building a financial model, using financial metrics, and identifying unit economics.
  • Star-up exposure on Village Capital’s program website and another communications collateral.
  • Funding from the ILF for GIF if the consideration for funding is actual for the Start-up. 

Eligibility Criteria

All qualified applicants who apply for this Program should meet the following eligibility criteria:

  • Be a for-profit entity legal incorporation in a Sub-Saharan African, MENA, South and Southeast Asian country. 
  • Offer market-based solution which tackles the mentioned challenges.
  • Have at least one Minimum Viable Product (MVP).
  • Have meaningful business validation or customer. 
  • Preference goes with companies with diversed backgrounds founders, and products focusing on women migrant consumers.

Problem Statement 

Start-ups building solutions to the following challenges faced by migrants will receive support:

  • Lack of access to financial services
  • Language and literacy barriers
  • Lack of trust: Solutions with a deep understanding of local contexts 
  • Constraining external environment
  • lack of job opportunities and an unsteady income stream 

How to Apply?

Applicants should fill in the online form by registering in one of the categorized regions. They can apply to MENA and Turkey, Sub-Saharan Africa, and South and Southeast Asia regions. Please click your best choice option below.

 

Apply for MENA and Turkey

Apply for Sub-Saharan Africa

Apply for South and Southeast Asia

 

 

Check More Opportunities 

 Kim Wall Memorial Fund for Journalists by IWMF

Solitude Writing Grant by New Asian Writing

Scholarship for Asylum Seekers and Refugees at Murdoch University

 

For further information about this Accelerator Program, please visit the Village Capital Website or read the FAQs section at the bottom of the web-page. 

Sponsored links

--