Along with the MTN Open API, MTN will also be launching a Startup Program to support Early stage startups into growth as they journey to become successful startups. The MTN Startup Program is in most of cases a Zero Equity Program, meaning that beneficiaries will not be expected to give MTN equity in return.
STARTUP PROGRAM REWARDS WILL BE PACKAGED AS FOLLOWS:
Pre-Seed Funding:
- 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 collaboratio
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