The CBN wants you to proffer solutions to SME finance problems

Fintech startups and businesses with ideas around how commercial transactions can be revolutionized can now apply for the 2017 edition of the fintech startup challenge backed by the Central bank of Nigeria (CBN).

The Fintech Challenge is part of the CBN’s Cashless Card Expo which will take place between June 13 and 15, 2017. 30 startup will be selected initially, with ten emerging in the final round for a chance to pitch at the Cashless Card Expo.

There are three phases to the Challenge;

Entry: Anyone can enter. All you have to do is register online and send a 60-second video pitch after you get a confirmation email. The video must address a problem SMEs face and solutions proferred for said problem. The video will be shared on social media using the hashtags #CardExpo2017 and #FintechChallenge.

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Shortlisting: 30 applicants will be selected from the general pool and invited to post a 60-second video of their pitch. 10 finalists who have the highest social media shares will be given the chance to pitch to a panel at the CardExpo2017.

The Challenge: Of the top ten, three winners will emerge and each will get a N500,000 prize as well as incubation with a relevant innovation hub in the country.

Hurry and apply now!