CAF´S Laboratory on Financial Inclusion 2023
August 29 to October 13, 2023
CAF - development Bank of Latin America and the Caribbean, is organizing the fifth edition of the Financial Inclusion Laboratory (LIF 2023) with the objective of promoting technological solutions that contribute to improving the financial inclusion of the migrant population.
LifCAF 2023 Objectives
- Promote innovative technological solutions that contribute to improve the financial inclusion of migrants and entrepreneurs and MSMEs owned by migrants and their families in LAC.
- Scale and replicate the solutions with a focus on migrant population to other countries in the region.
- Promote the generation of investment agreements with the private sector to strengthen the selected ventures.
- Strengthen the Fintech entrepreneurial ecosystem with a focus on inclusion, financial education and development of migrant entrepreneurship in the region.
LifCAF 2023 Categories
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Solutions to improve the financial and digital education and skills of migrants and their families.
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Solutions for the design of financial products and services for migrants and their families.
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Solutions with impact on the entrepreneurial capacity of migrants and their families and the productivity of their MSMEs.
Key dates
- Closing date for applications: October 13, 2023.
- Announcement of selected startups: November 30, 2023.
- Pitch Day: December 13, 2023.
Prizes and rewards
Startups applying to LIF 2023 will have a variety of funding and acceleration opportunities, including the following:
- Prizes for the 10 winners of LIF 2023:
- Winning proposals will participate in Endeavor or Seedstars acceleration programs, which will start in January 2024 and will last between 4 and 6 months.
- Seedstars will provide discounts and credits free of charge for the purchase of digital tools to automate processes and enhance key areas of the finalist Fintech's business. Likewise, Seedstars provides the selected fintechs with access to its global headquarters.Endeavor will offer 2 roundtables for the winning Fintechs focused on the capital raising process.Mastercard will offer mentorships for 4 winning fintechs of 3 sessions each with Mastercard fintech experts.
- UNHCR, the UN Refugee Agency, will provide the winning Fintechs with awareness and mentoring sessions on the financial inclusion needs of the refugee population.
- Latimpacto will offer the 20 semi-finalists a masterclass on non-financial support.