The International Trade Centre (ITC) Vivatech NTF V Challenge 2022 for African Digital Entrepreneurs is now accepting applications.
Through new business and cooperation formats, the Challenge aims to help companies improve smartphone availability in Africa.
Because the average cost of a low-end smartphone still surpasses 60% of the average monthly income in Africa, cellphones remain out of reach for the majority of the people. The ITC NTF V competition is searching for African entrepreneurs that use device finance strategies to make smartphones and smart feature phones more accessible.
To fuel economic development, link the disconnected, and create digitally aware countries, mobile penetration is critical. Despite increasing mobile broadband coverage, more than 520 million Africans do not have access to the internet; one of the biggest impediments is device price.
Expected solutions include, but are not limited to, the following:
- Models of bi- and tri-partite collaboration to fund cellphones
- Loans/installment plans for smartphones that are digitized
- Mobile phone loans are secured by services (ride-hailing, etc)
- Models that allow you to buy now and pay later.
- Sponsored airfare and tickets to VivaTech 2022
- Get a cash reward of $5,000.
- Connection to the entrepreneurial tech environment in and around the African nation where your problem is located, as well as beyond.
- Our network has connections with venture capitalists and industry participants.
ITC Vivatech NTF V Challenge | Eligibility Criteria
- Open to any fully registered African digital firm operating in the African market, with a track record in smartphone funding.
- A well-defined market with a large size;
- Strong team with complementary abilities, as well as management and operational expertise;
- A solution that is scalable;
- A business plan that is both viable and creative.
How to Apply for the ITC Vivatech NTF V Challenge
Deadline: The application date is April 30, 2022. The results of the applications will be disclosed on May 16, 2022.
To apply, go to this link.
Visit Vivatech NTF V Challenge for more details.
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