The MTN Startup Program for Technology Entrepreneurs is open and currently accepting applications.
Along with the MTN Open API, MTN has launched a Startup Program.
The MTN Startup Program is to support Early stage startups into growth as they journey to become successful startups.
The MTN Startup Program is in most of the cases a Zero Equity Program. This means that beneficiaries will not be expected to give MTN equity in return.
How the MTN Startup Program works
By participating in the MTN Challenges, your entry entry automatically gets to compete to benefit from the Startup Program.
MTN intends to have one or more Innovation challenges annually. This, you can apply for right now by visiting the application portal.
The current program now is the MTN Open API Challenge.
Beneficiaries will be selected based on a set of criteria defined by MTN and its Partners for each of the innovation challenges with the best performing being rewarded.
Startup Program Benefits
By Participating in the MTN Startup Program, you stand a chance to access on of the following benefits
At the end of an innovation challenge, beneficiary Apps will be those that demonstrate the best potential as per the specific initiative’s judging criteria. Beneficiaries will be selected by a panel of judges.
Performance based funding:
After Go live via MTN Mobile Money integration, beneficiary Apps for performance- based funding will be selected by MTN based on:
Selected set of KPI, including: a weighted performance of Number of users, Number of transactions and Total value of transactions
A presentation relevant to the business development process, e.g., Value proposition, commercial plan, B-case over 5 years.
Beneficiaries will receive funding as one of the following: Seed Funding, Commercial Plan funding, Co-branded collaboration.
Frequently Asked Questions about The MTN Startup Program?
How do Innovators access the MTN Startup Program?
Access to the MTN Startup Program will be through participation in MTN Innovation challenges which MTN will communicate to the public from time to time.
As an example, Participation in the MTN Open API challenge starting on 13th Dec 2018 will automatically be entry to compete to benefit from the Startup Program.
Is it automatic that when an innovator participates in a MTN innovation challenge they will benefit from the Program?
Participants in a MTN Innovation challenge are automatically entered to compete to benefit from the Start Up Program.
However beneficiaries will be the identified based on defined judging or performance criteria specific to a given MTN Innovation initiative.
How much equity does MTN take from beneficiaries?
In most of the cases, MTN will NOT take any equity from beneficiaries.
However, for outstanding projects with excellent commercial potential, Equity discussion might be considered.
Will there be any agreements to be signed by participants?
Each MTN Innovation challenge will have its terms & conditions. To participate in the initiative users will have to accept the related terms & conditions.
How to Apply for the MTN Startup Program
Interested in applying for the MTN Open API Challenge, visit the application portal now and apply.
Deadline: February 3, 2019
Good luck as you apply
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