Apply for FinTech Trip to Amsterdam
Discovery Global Entrepreneurs Programme
Calling all entrepreneurs with an interest in fin-tech and insurance
Discovery, as a leader in innovation and positive change, has introduced the Discovery Global Entrepreneurs Programme. This Programme forms part of Discovery’s Enterprise and Supplier Development and aims to support entrepreneurs and innovators in South Africa. As part of this Programme, we want to build a strong network of leading industry innovators, particularly in the fields of finance, insurance, health and health improvement.
The Programme offers selected entrepreneurs an opportunity to partner with Discovery in various ways. These include our investment and business support funds, Vitality, Discovery Enterprise and Supplier Development, procurement, and our wider value chain.
21 October – 28 October 2017
About the Programme:
The Discovery Global Entrepreneurs Programme is a new and innovative Enterprise and Supplier Development offering by Discovery. The programme objectives are to provide local entrepreneurs in the financial services sector with the opportunity to network and learn in a global market, as well as gain access to tailored support for business growth.
As part of this programme, Discovery, in partnership with En-novate, is excited to announce a Financial Services Innovation trip to Amsterdam. Fifteen selected entrepreneurs will spend a week in Amsterdam, also known as ‘Europe’s Silicon Valley’, and surrounds, exploring the latest in global technology-driven innovation in the financial services sector. Programme participants will also be provided with facilitated access to procurement, supply chain and investment opportunities within Discovery.
Eligibility Criteria:
This opportunity is open to all enterprises that comply with the following criteria:
- Are South African-registered enterprises
- Are innovative and/or disruptive in the financial product and/or services sector
- Have the potential to scale outside of South Africa
- Qualify as a small to medium enterprise with an annual turnover of less than R50 million
Preference will be given to:
- Enterprises that can demonstrate innovation – either in terms of actual product or service, delivery model or social innovation (broad base market reach)
- Enterprises that are at least 51% black-owned
Additional Information:
- No incomplete applications will be considered. Formal proof of all information submitted in the application form may be requested at any stage of the assessment and selection process.
- Programme selection is at the discretion of Discovery, and is based on an assessment of the enterprise and product or service offerings, in terms of innovation and the use of technology for advancement of the financial services sector.
- Programme applicant must be a member of the business’ founding team.
- Programme applicant will participate in the trip, please see below for the programme outline and dates.
- All costs associated with the Amsterdam trip opportunity, including return flights, accommodation and meals, are covered by this offer, and are at the expense of Discovery. Costs that will not be covered by Discovery include personal spending money, hotel room service, alcohol and any entertainment, travel or other costs that are not directly associated with the formal itinerary.
- Selected participants will be required to pay a once-off administration fee of R5 000 (five thousand South African Rands only) excluding VAT to the programme partner, En-novate. For tax purposes, this amount can be claimed back as a business expense.
- Onus for ensuring a valid passport and valid Schengen visa (if required) rests solely upon the programme participant. Note that the participant’s passport must be valid for at least six (6) months following the last day of the trip programme.
Programme Outline and Dates
- Selection interviews: Short interviews scheduled for 14 and 15 September in Sandton Johannesburg (video option available for out-of-town candidates).
- Discovery Entrepreneurs Financial Services Innovation Bootcamp:
- Saturday, 21 October, 10h00 – 18h00, Sandton, Johannesburg
- Trip to Amsterdam: Departing Saturday, 21 October 2017, Arriving back in Johannesburg on Saturday, 28 October 2017.
Please note that in order to track and monitor progress, businesses will be required to complete business baseline assessments, as well as submit regular short feedback reports.
Three Step Application Process:
Step 1: All candidates must complete the full application form. This document will be used to assess the suitability of the enterprise and the applicant for this programme.
Step 2: Successful first round candidates are invited for a face-to-face or video conference interview at Discovery. This interview is used for further interaction and engagement to assess suitability for the programme.
Step 3: The final selection round is a due diligence of the candidates selected in Step 2. This is the final stage of the selection process. The due diligence process is to ensure that the entrepreneur and his/her business are best suited in meeting the programme’s objectives, and that all of the data provided is correct.
We aim to ensure that the process and turnaround times remain fair and transparent, and will strive to close all applications in the shortest time frame possible, provided all documentation is timeously submitted and the correct process is followed.
Compulsory Discovery Entrepreneurs FinTech Bootcamp:
The Discovery Entrepreneurs Financial Services Innovation Bootcamp is compulsory for all selected programme participants in preparation for the trip. The Bootcamp will be hosted in Sandton, Johannesburg.
Privacy Statement
The selection criteria that forms part of the programme require us to collect certain personal information about you and your business. If you have been successful in the first round, we may share your information with external interviewers to facilitate the face-to-face interview process. In order for the selection process to be fair, please ensure that the information you provide us with is complete, accurate and up-to-date.
If you have been shortlisted, you will need to provide us with additional information to enable us to conduct the necessary due diligence. We will follow up with you after the programme to request feedback and additional information to enable us to determine whether the programme has been a success. We will retain your information so that we may contact you for future programmes and events; please let us know if you do not want us to retain your information for this purpose.
Applications close on Sunday the 10th September at 23:59.
With access to tailored support for business growth, the Programme will bolster development of technology-driven solutions in the finance, insurance, health, and wellness sectors. Supporting South African-registered, small, micro and medium enterprises, the objectives are to:
- Advance the entrepreneurial sector through exposure to new thinking, global innovations and technological trends in finance, insurance, health, and wellness.
- Expose small, micro and medium enterprises to competitive best practices, business partnerships, investment and international markets.
- Help local entrepreneurs benchmark their businesses and ideas against international product and service standards and to provide support strategies to meet these standards.
- Support key development goals, particularly in areas of healthcare, business innovation, entrepreneurship and employment.
- Support the development of solutions that lower the cost of healthcare for increased access to quality care.
- Support transformation and diverse entrepreneurial participation in the finance, insurance, health, and wellness sectors.
- Expose entrepreneurs to practices that will assist them in implementing and growing their businesses to provide services that effectively meet the needs of a rapidly changing and tech-savvy consumer market.
Discovery will also host alumni networking sessions from time to time. These sessions will provide an opportunity for entrepreneurs to engage with Discovery, industry thought-leaders and innovators in the financial services and technology fields. These sessions will enable discussion and collaboration on various topics.
