Egypt hosts Visa Everywhere Initiative for the first time with CBE’s support

Egypt hosts Visa Everywhere Initiative for the first time with CBE’s support

The Visa Everywhere Initiative (VEI), a global open innovation program, powered by FinTech Egypt, an initiative by CBE, is inviting FinTech and payments startups in Egypt to showcase their innovative products and solutions, with finalists gaining firsthand exposure to key FinTech stakeholders across banking, merchant, VC and government sectors.

Winners of the competition will be awarded monetary prizes and the opportunity to partner with a global, trusted brand like Visa. Breakdown of total Egypt VEI prize money:

  • 1st place: 500,000 EGP
  • 2nd place: 350,000 EGP
  • 3rd place: 250,000 EGP

The deadline for Egyptian participants is March 20, and VEI finale for Egypt will be held on May 12. The winner, in addition to receiving prize money, will have a guaranteed spot at the Central and Eastern Europe, Middle East and Africa (CEMEA) regional finals on June 8 to compete for a total of $45,000. The CEMEA regional winner will then move on to the global finale in Qatar in November 2022 where up to $170,000 in total prize money will be awarded.

Also read: Klivvr partners with Visa to launch its financial lifestyle app

The VEI network includes 8,500 startups from around the world, which continues to grow every year. Since its launch in 2015, the program has helped startups from over 100 countries collectively raise more than $2.5 billion in funding, addressing one of the biggest challenges faced by early-stage entrepreneurs. Every year, the scope of VEI is expanded to engage with unique startups and solve unique problems in the world of payments.

This year, the program will have a clear focus on CEMEA, a region with tremendous opportunity for fintechs that are developing innovative products and solutions aimed at supporting the community.

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