Global Startup Challenge 2017 calls for entries

By Digital News Asia November 8, 2017

Total Investment commitment to this programme is US$2.3 million
One startup from each cluster will get US$50,000; Ultimate winner gets US$1 million

Global Startup Challenge 2017 calls for entries

THE Global Startup Challenge 2017: FinTech Series is an initiative to empower innovations and startups across the globe through the platform EDGE 196.

The challenge runs across 26 global clusters (196 countries) where the objective is to identify startups that have the potential to become the next unicorn in the world.

The three shortlisted startups from each cluster will be invited for an online conference pitch session.

One winner from each cluster will be offered the term sheets and provided with an acceleration programme run by one of EDGE 196’s global partners in India, the UK, Canada, Singapore, and the US.

The Southeast Asian Clusters are as follows:

Jakarta Cluster – Indonesia, Brunei, the Philippines, East Timor, Papua New Guinea

Singapore Cluster – Malaysia, Cambodia, Laos, Thailand, Vietnam, Singapore

Empowering startups and innovations

EDGE 196’s total Investment commitment to this programme is US$2.3 million (RM9.7 million).

One winning start-up from each cluster (26 Clusters) will get an investment of US$50,000 (RM211,707).

Out of the 26 winning startups, one will be selected for the grand investment of US$1 million (RM4.23 million).

To apply, a startup would have to answer a few questions which involve information about the date of incorporation, brief description, stage, team size, annual revenue and the amount of revenue you are looking for from investors. Startups will also need to upload a pitch deck along with a video.

Once shortlisted, the startup will be contacted by EDGE 196’s team of analysts.

Startups can apply online until Nov 14, 2017. The evaluation (shortlisting process) will run from Nov 1 to 15, 2017. An online pitch session will be held via video conference on Nov 24, 2017. The grand finale will be in December 2018

Benefits of the programme

Global market access: Startups with potential are facilitated and presented into the global market for broader audience.

Investment: The winning startup from each cluster gets an investment of US$50,000 to finance their project. One potential startup will receive US$1 million.

Acceleration: The winning startups from each cluster get the chance to enter into an acceleration programme that is run by one of EDGE 196’s global partners.

Startup summit: The final 26 successful startups will be invited to the Grand Finale to pitch.

Continuity investment: The selected startup has the chance to raise its continuity investment through global investment partners. The investment will be equity based.

Eligibility criteria

A start-up must fulfil the following requirements to qualify for the Start-up Challenge:
Must be in the fintech domain
Must be at a MVP stage or later
Preferably with influence in terms of clients/revenue.
No more than three years in development.
With a significant target audience and intending to go global.
At least two people working on it.

Please check for your country via this link and submit your application via respective cluster pages. Direct Link: http://www.edge196.com/all-challenges