Along with the MTN Open API, MTN will also be launching a Startup Program to support Early stage startups into growth as they journey to become successful startups. The MTN Startup Program is in most of the cases, a Zero Equity Program, meaning that beneficiaries will not be expected to give MTN equity in return.
The MTN program will provide support to a value of UGX 1bn to local startups (3 years):
- Entry to compete to benefit from the Startup Program will be automatic by participating in MTN Challenges.
- MTN intends to have one or more Innovation challenges annually.
- Beneficiaries will be selected based on criteria defined by MTN and its Partners for each of the innovation challenges with the best performing being rewarded.
STARTUP PROGRAM REWARDS WILL BE PACKAGED AS FOLLOWS:
- Pre-Seed Funding:
At the end of an innovation challenge, beneficiary Apps will be those that demonstrate the best potential as per the specific initiative’s judging criteria. Beneficiaries will be selected by a panel of judges.
- Performance based funding:
After Go live via MTN Mobile Money integration, beneficiary Apps for performance- based funding will be selected by MTN based on:
Selected set of KPI, including: a weighted performance of Number of users, Number of transactions and Total value of transactions
A presentation relevant to the business development process, e.g., Value proposition, commercial plan, B-case over 5 years.
Beneficiaries will receive funding as one of the following: Seed Funding, Commercial Plan funding, Co-branded collaboration.
Application Deadline:
February 3rd, 2019.
How to Apply:
Click here to apply.