HomeNEWSBUSINESSKsh5.3M Up for Grabs in Visa Kenya Innovation Competition

Ksh5.3M Up for Grabs in Visa Kenya Innovation Competition

Digital payments giant Visa has opened applications in Kenya for the 2023 edition for Visa Everywhere Initiative (VEI), a global open innovation competition that sees startups pitch their innovative solutions to solve tomorrow’s payment and commerce challenges. The application deadline for VEI Kenya is May 14th 2023.

The VEI Kenya edition will see a total of $40,000 (Ksh5.3 million) in prize money distributed among the different categories. This includes $20,000 USD for the overall winner, $10,000 USD for the audience favorite and a newly introduced $10,000 USD Impact prize, which goes to the organisation whose solution has a positive social impact on the communities it operates in. Examples of social impact include initiatives that boost financial inclusion, promote sustainability, or safeguard the environment.

In addition to monetary prizes, VEI winners gain access and exposure to Visa’s vast network of partners in the banking, merchant, VC, and government sectors. The winners also benefit from receiving recognition from one of the world’s most trusted and valuable brands.

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This year’s VEI in Kenya will see an in-person competition on July 6, the winner of which will progress to the Central and Eastern Europe, Middle East and Africa (CEMEA) finals, which will be livestreamed on July 27 on TechCrunch.

The winner of the CEMEA regional final will proceed to the global finale, to be held on September 19 at TechCrunch Disrupt in San Francisco.

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