Tanzanian Fintech Incubator Looking for Next Unicorns

Note from the CEO:  Well, anytime I read that it is raining money for some purpose it really get my attention. Alas, it seems the money showers down for innovative ideas at fintech incubators, like the Gates couple (Bill& Melinda) operate. So since there are so many incubators and boot camps related to finance out there, get your rain boots on and prepare for a money shower.

We all know many great ideas come out of incubators and they are invaluable tools for tapping into developing regions globally. Fintech is especially coveted since the flow of money is circulating this innovative industry like buzzards over road kill. But, is throwing money at something the right path? There are other options available and this article points some out. But cash is nice.

“Looking over the evolution of fintech in recent years, it is apparent that a lot of money is circulating this innovative industry. Startups are raising funds like there is no tomorrow, and investors are more than happy to back incumbent startups. Moreover, there have never been so many incubators and boot camps related to finance than right now.

One of those incubators goes by the name of Digital Financial Services Lab, which is located in Tanzania. Very few media headlines originate from this region, but that situation may very well change in the coming years. The local boot camp is backed by the Bill and Melinda Gates Foundation, and they are showering startups with money as we speak.

In fact, twenty entrepreneurs from ten different countries have been invited to partake in the week-long boot camp. During this time, they received invaluable hands-on advice before presenting ideas to a panel. Four companies have been selected as “impressive”, in areas ranging from remittances to credit scores, and financial inclusion. “

Source: TheMerkle