Mastermind has selected Emata Uganda as one of the seven (7) startups to compete at the mastermind competition at the ICT Spring Conference in Luxembourg on September 15th. Emata was selected in the category of FinTech and they are set to compete with six (6) other FinTech startups from Australia, Belgium, Canada, France, Germany, and India.
The startup competition will be held after the conference on Sep. 14th. For those that are unaware, Mastermind is a summit composed of a conference and competition held annually with the aim to promote and spread best practices, foster emulation between entrepreneurs and VCs, and offers recognition to the best international startups of the ecosystem.
The Mastermind Competition is held in three key categories; FinTech, DeepTech, and NewSpace —where Emata was selected in the FinTech category.
Finalists of each Mastermind Competition category (FinTech, DeepTech, and NewSpace) will be invited to pitch their project on stage. During the pitching sessions, they will be granted 5 minutes each to present their startup in an attempt to convince the jury.
Emata is a product of Laboremus — aims at bringing financial services to underbanked farmers across East Africa. It is a digital agricultural bank that allows farmers to use the power of loans to invest in the productivity of their farms. The bank provides farmers with affordable loans with favorable interest rates by utilizing end-to-end digital processes, data-backed risk analytics, and a mobile-based distribution model. Their solution allows farmers to manage their production daily and to streamline relations with a bank, up to the credit score, which ultimately allows them to have more access to credit.
The team will now have to convince the selected members of the jury in order to emerge as the overall winners from their category.
The startups Emata is competing with are; FIN-PAY (Australia), Greenomy (Belgium), Act Analytics (Canada), Neuroprofiler (France), Divizend GmbH (Germany), and Credgenics (India).
Ms. Lillian Nassanga, Product Manager of Emata told PC Tech Magazine, “We are very honored to be selected among the best seven, especially in a competition that pits us against FinTechs’ from all over the world. It is wonderful to see that years of hard work is getting recognition, both in Uganda and abroad.”
The team has quite had a good year having been selected to compete in international competitions —one of which is the Fintech Abu Dhabi Festival which is set to happen in November —and the other being the CATAPULT: Inclusion Africa 2021 where they emerged as the overall winners beating 13 other FinTech startups across Africa.
We wish the team all the best in Luxembourg.