MetLife Foundation & Verb Launch Competition To Accelerate Financial Innovation In Egypt & Lebanon
MetLife employees will serve as judges and mentors, donating hundreds of hours of volunteer time to advance financial inclusion
CAIRO, July 02, 2017 /PRNewswire/ — Today, MetLife Foundation and Verb announced a global competition to identify and support entrepreneurs, non-profits and other impact organizations that help advance financial inclusion for an estimated 2 billion people across the world. The Inclusion Plus competition will reach 10 countries over the span of three years.
MetLife Foundation is the sole sponsor and has selected Verb, a social enterprise that produces massive social entrepreneurship competitions in partnership with global companies, foundations and governments, to run the competition. Inclusion Plus is an innovation competition that seeks to build a strong, stable ecosystem to support those working to accelerate access to financial services for those who need it most.
The competition launches in Egypt & Lebanon this week and will attract participants that have an innovative idea or solution to empower the nearly 50 million Egyptians and Lebanese that manage their day-to-day financial lives without a bank account. For example, participants may have breakthrough innovations focused on improving personal financial health. Other applicants include those that are working to scale and grow their existing solutions. Top teams that advance to the semifinal round will be paired with MetLife associates as mentors. Finalists will compete for a total of $100,000 in grant funding.
“Our goal is to help our clients build social innovation ecosystems,” says Verb CEO Suzi Sosa, “Financial well-being is a complex problem that cannot be solved by any single solution. Our social impact engagement platform enables us to connect entrepreneurs, investors, corporate partners, mentors and thousands of people from the public. By strengthening this network, we don’t just find one great idea, we actually strengthen the innovation ecosystem.”
Verb anticipates that Inclusion Plus will attract 25 social ventures in Egypt & Lebanon and will engage 75 MetLife associates from both countries to serve as mentors and judges for the competition, contributing hundreds of volunteer hours.
“We are delighted to launch the competition in partnership with Verb and MetLife Foundation. It is one of MetLife Egypt’s priorities to support SMEs and entrepreneurs, and we are proud to be part of this initiative which contributes to MetLife Foundation’s financial inclusion efforts to empower this important segment in the community,” said Elena Butarova, Deputy Chairman and Managing Director of MetLife in Egypt.
The competition will culminate with a final event later this year, where the winners will be announced. Learn more at mena.inclusionplus.com.
About MetLife Foundation
MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Today, the Foundation is dedicated to advancing financial inclusion, committing $200 million over five years to help build a more secure future for individuals and communities around the world. The Foundation’s focus on financial inclusion will help low-income people and businesses gain access to safe, affordable, and effective financial services. To learn more about MetLife Foundation, visit www.metlife.org.
About Verb, Inc.
Verb is a social enterprise that produces global social entrepreneurship competitions and delivers employee engagement in partnership with companies, foundations and governments. Verb competitions mobilize thousands of teams from around the world to solve the planet’s most pressing social and environmental problems. Founded in 2013 by Austin entrepreneurs Suzi Sosa and Tom Meredith, Verb leverages its online platform, innovation expertise, and entrepreneur network to produce a social innovation engagement experience unlike any other. For more information, please visit www.verb.net/.