Home Contest The Pacific Islands FinTech Innovation Challenge

The Pacific Islands FinTech Innovation Challenge

by opportunitydiary

Application Deadline:  06/20/2022
About Opportunity

To help address the challenge of financial inclusion in the Pacific Island Countries (PICs), the United Nations Capital Development Fund (UNCDF) is launching the Pacific Islands FinTech Innovation Challenge.

Eligibility Requirements

  • Entity registration
    • The applicant/ lead applicant must be a registered entity in any country with at least 2 years of operations as a FinTech company.
    • The applicant/ lead applicant must have audited financial statements for at least one operating year; if audited financial statements are not available at the time of application, the applicant must provide the latest management accounts.
  • Relevant operation licenses
    • The lead applicant must be legally able to operate as a technology provider and have appropriate regulatory licenses in its home country.
    • If the applicant plans to provide a financial product and/or service directly in the target geography, the applicant should either have licensing or a reasonable plan to partner with a licensed provider in the target country.
  • Country of operation
    • The applicant can be registered and conducting operations anywhere globally.
  • Consortiums
    • Applicants can apply only once under this RFA, whether independently or in a consortium.
    • Joint applications between market players in the target country or countries are encouraged if the solution proposed will expand delivery networks and promote rural and/or other last-mile access to market and financial services.
    • Applications from consortiums should be attached with the signed consortium Agreement.
    • The lead applicant and their partners in the consortium must be registered entities with at least two years of operations, must have  statutory accounts and audited financial statements for at least one operating year.

Benefits

  • A performance-based grant up to 50,000 USD.
  • Technical assistance and potential opportunities for market collaboration.

Application Procedure

The challenge aims to attract FinTechs to address identified problem statements which represent the challenges faced by Pacific Island Countries in developing the digital payments ecosystem.

The Pacific Digital Economy Programme (PDEP) is a joint programme between UNCDF, UNDP and UNCTAD, in support of the development of inclusive digital economies in the Pacific. This unique partnership builds on UNCDF’s long-term work on digital finance in the Pacific region and UNCTAD’s extensive work in the area of e-commerce and the digital economy and is implemented with the administrative support from UNDP. The PDEP includes both country-specific activities, initially focusing on Fiji, Tonga, Samoa, Vanuatu and the Solomon Islands, and region-wide research and capacity building activities.

Official Website: The Pacific Islands FinTech Innovation Challenge

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