5 Startups Qualified for the Race to Reach Challenge Winning a Total Prize of 100,000 JOD

After announcing the opening of applications for the internal challenge: Race to Reach earlier this month, JoPACC, in collaboration with GIZ, and through its JOIN Fincubator, has qualified 5 out of 7 fintech startups to be awarded a total prize of 100,000 JOD to target MSMEs with their solutions.

The Race to Reach internal challenge is supported by the German Agency for International Cooperation (GIZ) through its innovative approaches to the financial inclusion of MSMEs (IFIN) Project which aims to support the fintech ecosystem in Jordan and its access to digital financial services.  

In light of this challenge, JOIN Fincubator and the qualifying startups have signed an agreement that details the requirements  and puts the framework for the upcoming stages.  

Over the upcoming six months, these startups will work on building traction for MSMEs to help their businesses grow. The prize comprises 100,000 JOD distributed based on a set of milestones that these startups are determined to achieve, including the number of onboarded clients and signed partnerships.  

It is worth noting that the participating fintech startups have recently successfully completed the 6-month incubation program at JOIN Fincubator and are now getting ready to accelerate their growth journey.  

JOIN Fincubator is dedicated to empowering FinTech entrepreneurs across various categories, including startup founders, university students, and individuals with innovative fintech ideas, by providing them with access to infrastructure, experts, markets, finance, and partnerships. Additionally, the "Race to Reach" challenge highlights JOIN's commitment to ensuring startups' access to finance upon completion of the incubation program, during which they benefited from the full suite of services.