Innovation for Smartphone Financing in Africa

About the challenge

We target 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 driving economic growth, connecting the unconnected, and building 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

Scope:
Mobile financing plan, credit, BNPL, Mobile devices lending.

What inspired us and could inspire you? Read more here…

Selection criteria

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

What you get

• Attend VivaTech 2022: we sponsor your flight and passes.
• Get a $5000 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.

About the organizers

About VivaTech:

VivaTech is the world’s rendezvous for startups and leaders to celebrate innovation!

This international event is a gathering of the world’s brightest minds, talents, and products and is a celebration of today’s innovations and tomorrow’s possibilities for everyone who believes in the power of technology to transform business and society!
VivaTech is dedicated to the growth of startups, hosting more than 13 000 of them and enable them to present their innovation on the market.

The 6th edition will take place on June 15-18 2022.

About International Trade Center:

The International Trade Centre is the joint multilateral agency of the United Nations and the World Trade Organisation fully dedicated to support the internationalisation of SMEs.

Its joint mandate combines a focus on expanding trade opportunities with the aim of fostering sustainable development. Its main focus is to facilitate SME & startup success in international business.

ITC project NTF V aims to support digital entrepreneurs and tech startups in sub-Saharan Africa go international – with online and onsite training, advisory and coaching focused on building digital and business skills with a focus on regional & international business generation and investment promotion.

Innovation for Smartphone Financing in Africa