The Financial Inclusion Laboratory (LIF 2023), organized by CAF – Development Bank of Latin America, has opened its fourth annual call with a special focus on improving the financial inclusion of migrant populations and small and medium-sized enterprises (SMEs) owned by migrants in Latin America and the Caribbean.
This edition of the LIF is aimed at startups from all member countries of CAF and focuses on three main categories:
- Enhancing the education and financial and digital capabilities of migrants.
- Designing financial products and services specifically for migrants.
- Impacting the entrepreneurial abilities of migrants and the productivity of their SMEs.
The top 10 winning startups can participate in acceleration programs with Endeavor or Seedstars, beginning in January 2024. Additionally, the 20 finalist startups will receive free access to Seedstars content for their own technological onboarding. All participants can access funding rounds and other resources like MentorDay and scoring services.
The call will be open from August 28 to October 13, 2023, and the project review will occur from October 16 to November 22. The organization will inform about the preselected proposals on November 30, followed by a pitch presentation and matchmaking event on December 13, 2023.
LIF 2023 is supported by more than 80 allies from the region’s public and private sectors, investors, and entrepreneurs. Key allies include Mastercard, the International Organization for Migration (IOM), UNHCR, and many financial and governmental organizations in countries from Argentina to Venezuela.
With this initiative, LIF 2023 seeks to boost innovation in the fintech sector and address the unique challenges faced by migrant populations in Latin America and the Caribbean regarding financial inclusion.
For more information and to apply, visit the initiative’s website.