LaunchLab, Nedbank on hunt for next big thing in fintech, big data

LaunchLab in partnership with Nedbank has launched a Fintech and Big Data Challenge which commenced on 16 August 2016 and will continue to 23 September with the final event take place on 20 October of this year.

The challenge will seek to find innovative ideas that will alter the way consumers bank in Africa. LaunchLab along with Nedbank will search for new businesses that address new ways to use mobile technology in the sector, as well as new ways to incorporate gamification to better client engagement with products.

The challenge will also focus on platforms related to money transfers and fundraising initiatives, such as crowdfunding and peer-to-peer lending. The event will attempt to find ways that enhance client’s experiences as well as innovative methods for remote client verification, among other aims.

The best ideas are set to head to the final pitching platform to compete in their share of R80 000 in seed-funding and six months worth of support from the LaunchLab incubation programme.

Entrepreneurs get three minutes to record their video pitch and are advised that LaunchLab will have no facilities for entrepreneurs to display their visual demos or presentations. However, entrepreneurs are encouraged to use props and demo devices during their pitch. Any content that exceeds three minutes will not be judged.

For more information on the challenge, click here.

Featured Image: Tech in Asia via Flickr