Applications open in Georgia for Visa Everywhere Initiative, a global innovation competition for fintech startups

Visa Everywhere Initiative tasks fintech startups with solving today’s most pressing payments and commerce challenges, with monetary prizes, global exposure, and validation from one of the world’s most trusted brands.Since launching in 2015, VEI has helped more than 15,000 startups from over 100 countries collectively secure more than $48B in funding.Tbilisi, 3 April 2024: Applications are now open in Georgia for the 2024 edition of the Visa Everywhere Initiative (VEI), a global open innovation program and competition that sees fintech startups pitch their solutions to solve tomorrow’s payment and commerce challenges. In addition to equity-free funding, VEI winners gain access and exposure to Visa’s vast networks of partners in the banking, merchant, venture capital, and government sectors. The winners also benefit from receiving recognition from one of the world’s most trusted and valuable brands. Applications for participation in the competition are accepted from March 25 to May 6. The selected participants will take part in a virtual Central and Eastern Europe, Middle East, and Africa (CEMEA) competition on July 17. The startup that wins at the CEMEA finale will participate in the global finale – competing against winners from Europe, Asia-Pacific, Latin America, and North America – at the TechCrunch Disrupt event in San Francisco on October 29th, 2024. “The Visa Everywhere Initiative is a powerful platform that empowers and uplifts fintechs and entrepreneurs to showcase the most ground-breaking, impactful solutions solving tomorrow’s challenges in the world of payments and commerce,” said Diana Kiguradze, Visa Regional Manager for the Caucasus region. “Fintechs have the potential to offer broad social benefits to the markets they operate in – particularly when it comes to providing financial services to those who have traditionally been underserved. At Visa, we believe access to the digital economy drives equitable, inclusive growth, and VEI is an important means of supporting the growth journey of fintechs – helping them take small but significant steps towards making an impact.”The program first launched in the US in 2015 and quickly expanded into a global program. To date, nearly 15,000 startups have participated, and have collectively raised over $48 billion in funding. VEI 2023 saw Nigeria’s Drugstock take home the VEI global grand prize of $50,000, as well as the Audience Favorite prize of $10,000. What we are looking forWe are looking for products that deliver innovative payment and commerce solutions to consumers and businesses prioritizing fintech startups with the following technologies:Emerging spacesArtificial IntelligenceBig Data/Open BankingCloud ComputingDigital identity and BiometricsCybersecurity and PrivacyFraud and RiskAlternative FinanceAlternative LendingLoyalty of the FutureMoney MoversRemittanceP2P and TransfersCross Border PaymentsB2C (Disbursements)B2B Payments OrchestrationEnablers (Commerce and Banking)Online Marketplaces and EcommerceEmbedded FinanceCore Banking and Bank EnablersFintech AggregatorsDigital AcceptanceBaaSNeo Banks and BrokeragesNeo Banks/Digital BanksMNOsDigital BrokeragesDigital WalletsLendingCommercial LendingBNPLConsumer LendingCapital ProvidersSocial, Creator, and GamingCreator Platforms and ServicesNFT MarketplacesCollectablesGaming Wallets and TokenizationIn Game payments and transactionsGig Economy EnablerOther categories for 2024Sustainable fintechsRisk PrizesMonetary prizes will be awarded at the regional and global competitions:VEI CEMEA Regionals 1st place: $20,000 USD.VEI CEMEA Regionals Audience Favorites: $10,000 USD.The application deadline for VEI in CEMEA region is May 6. For more information about VEI, please visit https://usa.visa.com/visa-everywhere/everywhere-initiative/initiative.html