14 February 2021
ITIDA, Visa Launch Program for Fintech Entrepreneurs, Startups

The Information Technology Industry Development Agency (ITIDA) and Visa, the global payment technology company, have launched ITIDA-VISA Mentorship Program, targeting entrepreneurs and startups specializing in fintech. The  program offers a full-fledged package of benefits and services to enhance participants’ capabilities and help develop innovative fintech solutions.

The program offers insightful business models with respect to market requirements, and allows startups to test and qualify their payment solutions to meet Visa’s standards. Startups, through the program, will also be able to find potential partners through Visa’s global partner network, to boost their businesses and enrich their market experience.

The startups and entrepreneurs, participants of the program, will have access to Visa Developer Application Programming Interfaces (APIs). which facilitate integrating with Visa’s global network and experimenting with the company’s sandbox.

Moreover, the best performing startups will receive a USD 20,000 cash prize, after completing the technical training and the business mentorship on business models, market requirements, and learning about business methodologies that help startups join Visa’s network.

Applications for the program are submitted through the website of the Technology Innovation and Entrepreneurship Center (TIEC), by maximum March 3.

The program targets fintech entrepreneurs, business owners and startups with creative solutions in financial inclusion; e-payment; insurance; empowering merchants to understand, accept and use e-payments; discounts, Near-Field Communication (NFC); Radio-Frequency Identification (RFID); financial settlements; asset management; and investments.

The program also targets developers of e-payment mobile solutions, e-payment security, informational authentication and other fintech solutions, and supports female entrepreneurs working in the fintech field.

In November 2020, ITIDA and Visa signed a Memorandum of Understanding (MoU) with the aim to enhance cooperation in supporting entrepreneurship, encouraging startups to develop innovative fintech solutions and promoting e-payments in Egypt.

For more information on the program, kindly click here.

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