The Co-Creation Hub (CcHub), in partnership with Google, the Ministry of ICT, Innovation Rwanda, and the Mojaloop Foundation announces the six startups selected for the Fintech Incubation Program.
The Fintech Incubation Program and other growth-oriented programs make up the Fintech Innovation Project. With Mojaloop serving as the national payments switch, the program is a component of ongoing efforts to make Rwanda the Fintech hub of Africa.
To remove obstacles preventing the widespread use of digital financial services, Mojaloop was created as a reference model for payment interoperability.
The open-source software from the Mojaloop Foundation can be used by organizations to create interoperable, digital payment systems that enable seamless, affordable financial services between individual users, banks, governments, merchants, mobile network operators, providers, and technology firms – connecting the underserved with the emerging media economy.
The Fintech Incubation program supports Rwanda’s goal of using technology to promote inclusive economic growth.
Read also: Gitex Global will launch in Africa in 2023
Startups That Would Benefit From The Fintech Incubation Program
Expansa: Expansa makes it possible to track your income and expenses from all of your bank accounts at once.
Gwiza: With Gwiza, you can manage your finances, pay your utility bills, save money individually or collectively, participate in group activities, and support the charities of your choice.
Hepta Pay: In East Africa, HeptaPay acts as a mobile money online agent. It takes debit and credit cards from Visa, Mastercard, and American Express everywhere.
Kayko: Kayko is the first digital ledger app for Rwandan MSMEs. It allows business owners to digitize, track, and expand their financial operations.
SchoolNest Pay: Schoolnest provides a safe way to handle online payments for school expenses using various payment methods.
Smart Ikigega: Ikigega farmers can save their harvest data digitally and receive SMS notifications once their product is sold.
To hasten the use of social capital and technology for economic success, Co-creation Hub (CcHUB) opened Nigeria’s first public living lab in 2010 for technologists, entrepreneurs, tech businesses, investors, and hackers.
Since then, the hub has grown to encompass a broader network of pan-African innovation enablers, such as the CcHUB Design Lab in Rwanda, the iHub and eLimu in Kenya, Growth Capital by CcHUB, and CcHub Syndicate.
Duration Of The Fintech Incubation Program
CcHUB will assist the six chosen businesses in achieving product stability and scalability, market readiness, and investment for the following three months. They will be able to benefit from the mentorship of business and subject matter experts while utilizing Google products like Mojaloop.
CcHub Createch Accelerator Selects 15 Startup Companies
The 15 startups chosen to participate in the first Createch Accelerator program have been revealed by the Creative Economy Practice at Nigeria’s Co-Creation Hub (CcHub). Through a collaboration between CcHub and Ojoma Ochai, The Creative Economy Practice was founded as an ecosystem support organization for the African creative economy.
The approach aims to promote technological innovation and uptake in the African creative economy, spur additional sector growth, and maximize value for African creatives and other sector participants. The Createch Accelerator’s mission is to give entrepreneurs working at the nexus of technology and creativity access to the resources, networks, and support they need to move more quickly toward profitability, scalability, and institutional investment.
FanBase Africa, STARS App, Adirelounge, Tell!, Teraki, Idozi Collective, Fashtracker, Stylebitt, Nollydata, Usanii Space, Mawu Africa, Orange VFX, Vezuh, PayBox, and Twiva are among the 15 chosen startups.
The chosen businesses will have access to networks and assistance over the following four months which will hasten their journey to profitability, scalability, and access to essential institutional financing. This includes partner credits from Google, Amazon Web Services, HubSpot, and other companies, access to a network of creative economy leaders, talent, distribution, and capital advisory services, product advising, and technical assistance.
Additionally, they will have the chance to make a presentation to CcHub Syndicate for equity capital of up to $250,000.
