The Challenge targets startups improving access to smartphones in Africa through innovative business and partnership models.
In Africa, smartphones remain inaccessible for most of the population since the average cost of a low-end smartphone still exceeds 60% of the average monthly income. The ITC NTF V challenge is looking for African startups facilitating access to smartphones and smart feature phones through device financing models.
Mobile penetration is key to drive economic growth, connect the unconnected and build digital savvy nations. Despite a growing mobile broadband coverage, more than 520 Million Africans do not enjoy internet services, device affordability is one of the major barriers.
Expected Solutions can vary from but are not limited to:
- Bi and tripartite partnership models to finance smartphones
- Digitized smartphone loans/instalment schemes
- Mobile phone lending against services (ride hailing, etc)
- Buy Now Pay Later models
- Attend VivaTech 2022: sponsored flight and passes
- Get $5,000 cash prize
- Connection to the entrepreneurial tech ecosystem in the African country your challenge covers and beyond
- Linkages with VCs and industry players from our network
- Open to formally registered African digital startup working in the African market, revenues a plus, with track record in smartphone financing;
- Well defined and big market size;
- Strong team with complementary skills and strong managerial and operational experience;
- Scalable solution;
- Viable and innovative business model.
How To Apply
The deadline for applications is April 30, 2022. Application results will be announced on May 16, 2022.
Application Deadline: April 30, 2022
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