Global Courant 2023-04-19 13:55:55
In Uganda, applications are now open for the 2023 edition of the Visa Everywhere Initiative (VEI), a global open innovation competition where startups pitch their innovative solutions to solve tomorrow’s payment and trade challenges.
In addition to cash prizes, VEI winners gain access to and exposure to Visa’s extensive networks of partners in the banking, trading, venture capital and government sectors. The winners also benefit from the recognition of one of the world’s most trusted and valuable brands.
According to Salma Ingabire, the Visa Country Manager for Uganda, Central and Eastern Europe, the Middle East and Africa (CEMEA), the finals will be streamed live on July 27 on TechCrunch – a leading online publisher focused on the technology industry and the startup ecosystem. The startup that wins at the CEMEA Regionals will compete in the global finals, which will be held September 19 at TechCrunch Disrupt in San Francisco.
“This year, for the first time, Visa’s VEI CEMEA will introduce an award in the domain of risk and security – Fintech’s Innovating in Risk Excellence, or ‘FIIRE’, Award.
“Through this special edition, Visa is seeking global Fintech players in areas such as fraud management, cybersecurity and credit risk in partnership with Emirates NBD.
“Following a joint review by representatives from Visa and Emirates NBD, the winning Fintech will receive a $25,000 prize and an opportunity to partner with Emirates NBD, a leading bank in the region,” said Ingabire.
The Visa Everywhere Initiative is a platform that empowers fintechs and entrepreneurs to showcase the most groundbreaking, impactful solutions in the world of payments and commerce.
Through their technology-driven, innovative solutions, fintechs have the potential to deliver broad societal benefits to the markets in which they operate, particularly when it comes to providing financial services to those who have traditionally been underserved.
Ingabire said they believe access to the digital economy drives equitable, inclusive growth, and “VEI is an important resource to support the innovators who are leading the way in this space.”
Since launching in 2015, VEI has helped startups from more than 100 countries collectively raise more than $16 billion USD in funding, with a network that includes nearly 12,000 startups from around the world.
Last year, VEI awarded more than $530,000 USD in prize money during the contest, which saw more than 4,000 startups from five regions participate. VEI 2022 saw Nigeria’s ThriveAgric take home the VEI Global grand prize of $100,000 USD. ThriveAgric also won the $20,000 USD Visa Direct prize.
