Massachusetts Institute of Technology (MIT)'s Legatum Center for Development and Entrepreneurship in partnership with Mastercard Foundation, have announced the 2018 launch of their Zambezi Prize for Innovation in Financial Inclusion. The Zambezi Prize's top 3 winners will be invited to attend the competition's boot camp during the MIT Inclusive Innovation Challenge (IIC) gala on the MIT campus in Boston and fast-tracked to the global grand prize with up to $1 million in prize money available.
The Zambezi Prize for Innovation is open to early-stage technology startups from Afrika that promote and advance financial inclusion.
Furthermore, the 2018 competition will be supported by the MIT Legatum Center’s annual Open Mic Africa tour. This Los is a cross-continent tour in search of Afrika’s most innovative entrepreneurs that will kick-off later in 2018.
MIT's Legatum Center was founded on the belief that entrepreneurs and their market-driven solutions are critical to tackling the world’s greatest challenges and driving global prosperity. The center is based at MIT Sloan School of Management and it leverages expertise and research across their campus to equip future leaders with the skills, values, and critical thinking they need to succeed as entrepreneurial change agents.
"The Zambezi Prize and the Open Mic Africa tour are pillars of the Legatum Center’s Africa Strategy – a global vision to leverage MIT’s ecosystem to improve lives through principled entrepreneurial leadership. The Legatum Center’s Africa strategy is also a core component of MIT-Africa – the initiative that encompasses the Institute’s global priority for collaboration with the continent." reads a statement announcing the competition.