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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].

COMPANIES

Bankroll.ai

Bankroll is a digital platform, launching in early 2018, that will use machine learning to help banks more effectively understand their existing customers.

Bridg

Bridg provides a software application called OneConnect (patent pending) that allows users to make easy, safe, wireless payments using Bluetooth technology.

Ennota

Ennota uses the latest data visualization techniques to bypass technical and financial education barriers in the market.

Lendflo

Lendflo is a peer-to-peer invoice financing platform built on the Ethereum Blockchain (similar to Bitcoin).

Maliyya

Maliyya provides a P2P marketplace offering Sharia-compliant financial products that directly link investors with borrowers.

MyMoneySouq

MyMoneySouq is a comparison platform for life insurance, personal loans, car loans, credit cards, bank savings accounts, etc. that are available in the UAE.

One Clique Systems

A cloud-based HR system specifically tailored for SMEs in the MENA region.

Qlikcash

Aims to increase access to financial services by providing a comprehensive digital money management and payments ecosystem that is low cost and user-friendly.

Smart Crowd

A digital real estate investment platform that provides the opportunity to buy and sell shares in properties, reducing the barriers to entry for individuals.

Solfeh

To address the cash flow volatility faced by many low-income individuals by providing Sharia-compliant, same-day cash advances with competitive interest rates.

Uhoncho

Aims to tackle these pain points with a mobile-first platform that provides freelancers with insights on the financial health of their business.

PARTNERS

ECOSYSTEM ALLIES

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