Apply now to the third round of GSMA Ecosystem Accelerator’s Innovation Fund and stand a chance to walk home with $349,000 equity-free funding.
GSMA Ecosystem Accelerator launched the Innovation Fund back in July 2016 offering startups equity-free funding between $140,000 and $349,000. The fund will pay keen interest to startups using the mobile service infrastructure to come up with innovative solutions to the socio-economic challenges in their community. The competition is seeking startups from Africa and Asia with such solutions.
“We are looking for startups that deliver socio-economic impact by leveraging mobile technology, and that consider that a mobile operator could be a great partner in reaching scale faster. We’re already working with 24 pretty diverse startups – 15 of which are in Africa, and we will be keeping an eye out for companies that will bring something different to the existing portfolio,” – Max Cuvellier, head of GSMA Ecosystem Accelerator.
Cuvellier elaborates that startups interested in this round of funding should be active in ecosystems that are traditionally underrepresented. For instance, startups using cutting-edge technologies, startups from French-speaking African countries, Internet of Things (IoT), Machine to Machine (M2M), or big data analytics.
“Projects focusing on the replication of successful products or services to a new market would also bring significant value to the Fund.”
The Innovation Fund is sector-agnostic, and post-revenue startups solving challenges in Africa and Asia-Pacific region are eligible for it. The top startup will walk home with equity-free funding of between $140,000 and $349,000. However, the startup will be required to match 50% of the funding.
The winning startup will also join the Innovation Fund’s annual boot camp and take part in its monthly clinics. There will also be ongoing mentoring, and support through a partnership with mobile operators.
“We work hard to increase the visibility of the startups both online – through case studies, blogs, videos, – and at events, in particular at Mobile World Congress or our mobile 360 series.”
How to apply
If you are interested in taking part in the GSMA Ecosystem Accelerator’s Innovation Fund, click here. The deadline for application is April 15, 2018.