The IDEO Last Mile Money Startup Accelerator program is currently accepting applications for its second cohort, which is looking for promising early-stage businesses that connect underprivileged people in emerging economies to digital financial services.
The mission of Last Mile Money is to provide millions of last-mile consumers with high-interest savings accounts, auto payout insurance, drastically reduced remittance costs, and more.
The Accelerator thinks that by bringing businesses with carefully considered ideas together, it will be easier to fulfill its purpose of fostering financial resilience and paving the road for better living conditions for all.
“Today, this quickly-growing market is largely underserved by current digital financial tools, which are often not designed with the needs of last-mile users in mind. We use IDEO’s human-centred design approach to propel ventures by building intuitive products and services.”
The organisation affirms to have worked in collaboration with global multinational firms such as Google, Unilever, and Vodafone, as well as growing startups like NowMoney, Finja, Boost, and more. Together, they have designed and tested 100+ prototypes reaching millions of last-mile users across developing countries.
Startups accepted into the programme will receive the following benefits:
- Design support: Not just UX/UI design, the accelerator brings a wide variety of design perspectives to its work — from user research to business design and more. Ventures will get dedicated teams of IDEO designers to work with them on solving design challenges that are getting in the way of growth. They will be provided with a range of flexible design support ranging from office hours to 4 – 6 weeks sprints to help them leverage the company’s expertise.
- $30 – 50K grants: The accelerator will provide between $30 – 50k of equity-free grant funding per startup to accelerate their go-to-market and scale-up plans. Additional top-ups are available based on traction and needs
- CICO Collective Membership: The accelerator’s CICO Collective gives startups access to salons, webinars, and co-creation opportunities with an online community of 1,200+ other founders and experts building for the last mile
- Access to the accelerator’s partner network: Its partners are available to train startups in problem-solving, build tech, improve systems, and launch.
Eligibility: Any venture working at the intersection of last-mile users and financial empowerment can apply.
Deadline is July 15, 2022.