Village Capital Financial Solutions for Migrants Accelerator Program
Fund Short Program Village Capital posted 1 year agoOpportunity 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.Â
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.Â
DetailsÂ
- Application Deadline:Â 06 January 2023Â
- Virtual Workshops:Â March-May 2023
- In-Person Program Summit: June 2023
- Summit Location: Istanbul, Turkey
- Host Organization:Â Village CapitalÂ
- Funding Organization:Â Impact-Linked Fund for Gender Inclusive FinTechs (ILF for GIF)
- Managed By:Â Impact-Linked Finance Fund
- Gender:Â Male/Female
- Funding Type: Partially-funded Â
- Number of Positions:Â 36
- Degree: None Â
- Eligible Countries: MENA, Turkey, Sub-Saharan Africa, South, and Southeast AsiaÂ
- Program Duration:Â N/A
- Language Required: English Â
- 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.Â
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.Â
- Offer market-based solution which tackles the mentioned challenges.
- Have at least one Minimum Viable Product (MVP).
- Have meaningful business validation or customer.Â
- Preference goes with companies with diversed backgrounds founders, and products focusing on women migrant consumers.
Problem StatementÂ
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 contextsÂ
- Constraining external environment
- lack of job opportunities and an unsteady income streamÂ
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.
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Apply for South and Southeast Asia
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Check More OpportunitiesÂ
 Kim Wall Memorial Fund for Journalists by IWMF
Solitude Writing Grant by New Asian Writing
Scholarship for Asylum Seekers and Refugees at Murdoch University
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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.Â