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MetLife Foundation Just Launched a Financial Health Competition with $50,000 Up for Grabs

The competition is looking for startups that are striving to better financial health for low-income families in Egypt and the Middle East.

Village Capital and MetLife Foundation have just embarked on the search of the world's next Finantial Health startups, launching a competition for early-stage entrepreneurs in the Middle East and Egypt. The competition, focused on startups aiming to improve financial health for low-to-moderate income families, will conclude with a one-day financial health forum in Dubai on December 19th, where startups will be eligible for grants totalling $50,000. 

But what is Financial health? According to the foundation, it refers to "a household’s ability to manage day-to-day cash flow, build resiliency against economic shocks, and take advantage of opportunities." While financial access is a necessary first step to bettering the living conditions of low-income families, the competition seeks to spark innovation to uncover and craft products or services that can help realise consumer financial health, such as coping mechanisms to protect against economic shock, sustainable debt loads, and insurance. 

Entrepreneurs with a financial edge and a passion for social impact can apply to this grant, as long as they are located in the Middle East or Egypt, and whose projects are geared towards improving the financial health of low-to-moderate income families, increasing the relevance and affordability of savings, credit, payments, and insurance; or improving the efficiency in supply chains and distribution channels  through increased price transparency and access to other decision-driving market information.

The 10 lucky startups that make it to the finals will reach the forum, with an all expenses paid flights and accommodation in Dubai, and will receive training with industry experts and investors as they battle it out for three grant prizes of $25,000, $15,000, and $10,000 from MetLife Foundation. 

Applications close on November 3rd, through this link

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