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M.Beek@fmo.nl
FMO, the Dutch development bank, today launches Finture Solutions, a competition for startups with five prizes of up to €125,000 each, to further develop their product offering and scale their operations in emerging markets. The challenge is open for innovative startups and scaleups registered in the Netherlands that operate in the fields of AgriFood, Renewable Energy, and Water. Applications will stay open from April 2nd until May 19th.
Finture Solutions is a collaborative effort by the NL Business activities of FMO and Rockstart, one of Europe's first startup accelerators. Together, the two companies will find and support Dutch startups that bring a positive change in the emerging markets across the world, be it with innovative farming solutions, energy products, or water management know-how.
In addition to the development capital, the winners will receive support from FMO experts to grow their business.
Linda Broekhuizen, Chief Investment Officer at FMO said: “Getting started in emerging markets, attracting funding, and growing a business is difficult for startups. Finture Solutions bridges the funding gap and supports startups that drive growth as well as local impact in emerging markets.”
FMO empowers entrepreneurs to build a better world; with climate investments, job creation and by reducing inequalities. That is why for Finture Solutions, special attention goes out to encouraging equal participation for male and female entrepreneurs. Broekhuizen: “Lowering thresholds to successful entrepreneurship in emerging markets is what we do every day. We hope that our Finture Solutions initiative will spark entrepreneurial appetite among men and women and look forward to seeing equal representation among the contenders. To help achieve their ambitions, and ours.”
"We will be looking at startups that are commercially viable, scalable and drive positive change across the globe. At Rockstart we believe that there is a need for disruption in traditional industries to build a more sustainable future, and startups play a key role in this transition. We are excited to collaborate with FMO and launch Finture Solutions together”, said Rune Theill, CEO and co-founder of Rockstart.
Who can apply?
Finture Solutions is looking for Dutch startups that already have traction in emerging markets with scalable and innovative products that contribute towards a more sustainable planet. This year, the challenge focuses on the domains of AgriFood, Renewable Energy, and Water. Both high-tech and low-tech solutions can win the prizes, from off-grid energy solutions to waste-water technologies and farm management systems. The initiative is partly made possible by the Ministry of Foreign Affairs of the Netherlands.
How to apply?
Startups can apply for Finture Solutions until May 19th, 2019. After the applications close, an expert committee will choose 10 companies to attend the final pitch event at Rockstart’s offices, late June. At the event, the startups will have a chance to present their business case to a panel of FMO's Management Board members, Rockstart directors and Dutch entrepreneurs; they will judge each submission and decide which five initiatives will win €125,000 each.
To apply for Finture Solutions, visit www.finturesolutions.com.
For any other questions, reach out to hello@finturesolutions.com.