New Deadline for Financial Inclusion Laboratory Bids

CAF—development bank of Latin America—, MinTIC, the Regulatory Projection and Financial Regulation Studies Unit (URF), Superfinanciera, Banca de Oportunidades, MiLAB, Asobancaria, Bogota Chamber of Commerce, Davivienda, Wayra, BBVA, Corporación Ventures and Colombia Fintech, teamed up to call on the nation’s entrepreneurs to present technological solutions that contribute to greater financial inclusion in Colombia.

The call will be open until September 13 and entrepreneurs will have a wide variety of financing and acceleration possibilities, including the following:

• CAF will identify the three initiatives with the greatest potential impact on Colombia’s development and will provide USD 10,000 to each of them to support them in their operational implementation.
• Upon an expression of interest from the laboratory’s partners, the selected proposals will have a chance to become involved in mentoring and/or investment initiatives of these stakeholders. The categories on which the ventures are to be submitted include (see here the extended rules of the Laboratory):
• Financial inclusion of vulnerable groups
• Financial inclusion with an impact on the productivity of SMEs
• Solutions that contribute to the digital transformation and integrity of public entities working on financial inclusion issues in Colombia.

Participation is open to individuals or corporations based in Colombia who are developing projects at an early stage, or consolidated initiatives with a high degree of innovation that include technological elements that provide solutions that help narrow the gap between groups with and without access to financial services.

The competition is open to programmers, designers, entrepreneurs and business owners. To apply and for more information, please visit www.caf.com/lif-colombia.