Validate your Fintech Venture Idea & Transform the Lives of Millions in East Africa

Break into the booming “Silicon Savanna” and validate your bold solution to drive financial inclusion in Tanzania and Kenya

PEARS CHALLENGE: VALIDATE

CALL FOR APPLICATIONS

Pears Challenge: Validate is a prestigious program for early-stage fintech ventures targeting emerging markets. Test your start-up idea in the market destination and gain access to invaluable business insights, startup grants, mentorship, and travel to Africa - all equity free!

Fast track your Validation process

Sub-Saharan Africa’s booming fintech sector is waiting for you! BCG reports that Africa leads the world in fintech growth and is projected to experience 13x growth over the next decade to reach $65B in revenue by 2030!

Join a distinguished cohort of fintech entrepreneurs passionate about creating lasting impact where it's needed the most. Develop your innovative startup and drive financial inclusion and economic opportunity for millions in East Africa.

As a Pears Challenge: Validate Participant, you get access to:

Startup grants

Mentorship from experts

Validation trip to East Africa

Network of local partners

Feedback for fast iteration from the field

Acceleration and fundraising opportunities

About the Program

FEBRUARY-MARCH 2024

Selection

During the selection process, we identify exceptional early stage ventures and fintech startup ideas looking to validate their concept in East Africa.

APPLICANT CRITERIA:

Ideal candidates have an existing venture idea (ranging from concept to MVP) that targets emerging markets and has a strong impact mission. We are looking for venture ideas backed by personal expertise, professional background or deep research.

We look for open-minded, impact-oriented, and experienced professionals who are ready to validate their idea and take it to the next level.

We seek out equal gender representation and diversity in our cohorts and encourage applications from people of all ages, ethnicities, and religious backgrounds.

Apply Now

PEARS CHALLENGE: VALIDATE

Building Scalable, Financially Viable Digital Solutions to Drive Financial Inclusion in East Africa

East Africa is experiencing a major revolution in digital finance. Dubbed the “Silicon Savanna”, the financial services sector is in the midst of a rapid transformation, giving millions of previously excluded people access to savings, credit, and opportunities for personal and economic mobility.

Historically, financial services in Africa have been inaccessible to most people due to high fees, a lack of physical infrastructure and geographical constraints. In recent years, the COVID pandemic has sped up digital adoption and accelerated the already growing trend of mobile penetration. These exciting developments have laid the groundwork for a revolution in digital finance.

According to the World Bank Group, financial inclusion is key to reducing extreme poverty and boosting shared prosperity. African governments as well as private sector players are focused on expediting access to financial infrastructure to allow millions of people to participate in the formal economy.

Pears Challenge: Validate is your gateway to this emerging landscape of opportunity and a chance to validate your venture in a market with a strong appetite for innovation and new technologies. It is also an opportunity to have a large scale and transformational change on the lives of millions of underbanked people.

This is your chance to:

Disrupt East Africa’s digital finance industry

Bring Israel’s cutting edge tech and creativity to improve economic opportunity for millions of underbanked people

Collaborate with local partners & innovators

Learn from mentors and local experts, and collaborate with inspiring peers to develop your disruptive technology

Gain invaluable market insights

Get a competitive advantage with insight into digital finance trends in Kenya and Tanzania and partnership opportunities

Travel to East Africa for market validation

Access an invaluable opportunity to validate your assumptions and test product-market fit in East Africa

Apply Now

East Africa: Break Into the New Frontier in Digital Finance

Here’s what makes Kenya and Tanzania ideal markets for your new fintech venture:

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Leverage the revolutionary power of mobile money

In the 2021 GSMA State of the Industry Report on Mobile Money, Africa accounted for 64% of all mobile money transactions globally!

Going cashless has enabled people to get around issues that have plagued the continent’s financial institutions such as verifying transactions, reducing the high cost of printing and transporting currency, dealing with fraud and theft, and helping to curtail money laundering.

Pears Challenge: Validate Global Partners

IN THEIR OWN WORDS

Pears Challenge Alumni

The last five cohorts of the Pears Challenge have created over a dozen new companies and raised over $21.4M in grants, seed financing and contracts and piloted technologies in markets across five continents, affecting the lives of individuals and communities in Angola, Nigeria, South Africa Tanzania, Zimbabwe Ethiopia, Uganda, Kenya, Senegal, Ghana, Israel, India, Taiwan, Nepal, Bangladesh, Japan, Brazil, Ecuador, USA, Canada, Netherlands, Poland, Italy, Luxembourg, Spain, Lithuania and Romania.

Browse Pears Challenge Alumni Ventures

Browse

Design and R&D company specializing in solutions for people with disabilities

Cassit is moving into the Kenyan market with a line of affordable hand supports, enabling disabled Kenyans to use their hands for work, study and self care.

Learn more

Our alumni have partnered with

JOIN THE RANKS OF THESE INNOVATIVE STARTUPS

Israeli Companies Revolutionizing FinTech

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Founded in 2016, Fido is an Israeli-Ghanaian company building an automatic banking platform based on unique risk management and machine learning models that give people credit insights, estimate risk and identify fraud

What’s cool about it: Fido enables customers with no financial history or access to banking credit decisions on the spot. The “Fido Score” empowers customers to build and maintain a digital track record, making them visible to the financial system. The app is available throughout Africa and serves over 600,000 customers, distributing over $300 M worth of credit.