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MetLife Financial Health Competition: Middle East and Egypt

MetLife Financial Health Competition: Middle East and Egypt

Village Capital and MetLife Foundation sought applications for a Financial Health Competition for early-stage entrepreneurs in the Middle East and Egypt. The competition concluded in a one-day financial health forum in Dubai where startups were eligible for grants totaling USD $50,000.

Learn more about the MetLife Foundation Financial Health Forum series here.

PROGRAM OVERVIEW

The forum was held on December 19. Ten startups were selected to participate and compete for three grant prizes totaling USD $50,000 ($25,000, $15,000, and $10,000, respectively) from MetLife Foundation.

Applications are closed.

Financial health refers to a household’s ability to manage day-to-day cash flow, build resiliency against economic shocks, and take advantage of opportunities. While financial access is a necessary first step to improving the financial lives of lower-income consumers, a whole suite of financial services and products are needed to realize consumer financial health outcomes such as short- and long-term savings, coping mechanisms to protect against economic shock, sustainable debt loads, and insurance.

PRIZES: Ten enterprises were chosen to attend the Financial Health Forum on December 19, 2017 in Dubai, UAE. This included:

  • Participating in a day of business development/investment readiness training with industry experts and investors,
  • All expenses paid flights to, and accommodation in Dubai, UAE and
  • The potential to win USD $25,000, $15,000, or $10,000 prize money to grow and build a venture.

Eligible Enterprises: Examples of this type of initiative include ventures that:

  • Are located in the Middle East or Egypt;
  • Improve financial health for low-to-moderate income families and promote economic empowerment;
  • Increase the relevance and affordability of savings, credit, payments, and insurance
  • Lower the barriers for SMEs in supporting their employees and growing their businesses;
  • Improve efficiency in supply chains and distribution channels across sectors through increased price transparency and access to other decision-driving market information.

The forum was part of the Metlife Foundation Financial Health Series, a two-year initiative to build startup ecosystems around financial health in Europe and the UAE.

If you are interested in more information about the forum in Dubai, please email Heather Matranga at [email protected].

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