Announcing the 2022 Last Mile Money Accelerator
A program for startups to serve last-mile communities with digital financial services and cash-in/cash-out innovations
Note: The 2022 Accelerator is now closed for applications. To be the first to know about the next accelerator cohort, please subscribe to our newsletter.
How might we accelerate financial innovation at the last mile so it outpaces the first mile?
This question is at the heart of our second accelerator program, which is now open for applications.
After a successful first accelerator program in 2021, IDEO Last Mile Money is once again inviting promising early-stage ventures that are connecting underserved communities in emerging markets to digital financial services.
Our mission
At Last Mile Money, our mission is to bring world-class financial services — like high-interest savings, auto payout insurance, radically affordable remittances, and more — to millions of last-mile users. We believe that thoughtfully designed solutions can help build financial resilience and create pathways to a better life for millions of last-mile users.
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-centered design approach to propel ventures by building intuitive products and services. We’ve worked in collaboration with firms from across the world — from multinationals like Google, Unilever, and Vodafone to growing startups like NowMoney, Finja, Boost, and more. Together, we’ve designed and tested 100+ prototypes reaching millions of last-mile users across developing countries.
Who should apply to the accelerator?
Any venture working at the intersection of last-mile users and financial empowerment.
What are the benefits of the accelerator?
Accepted startups will get access to a host of benefits, including:
- Design support: Not just UX/UI design, we bring a wide variety of design perspectives to our 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. We provide a range of flexible design support ranging from office hours to 4–6 weeks sprints to help you leverage our expertise
- $30–50K grants: We’ll provide between $30–50k of equity-free grant funding per startup to accelerate your go-to-market and scale up plans. Additional top-ups are available based on traction and needs
- CICO Collective Membership: Our CICO Collective gives you 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 our partner network: Our partners are available to help you problem-solve, build tech, improve your systems, and launch
What does this look like in action? Joseph Kuvor, CEO of Boost Ghana, who went through our accelerator last year, shares his experience:
“Before joining the accelerator, only 22% of Boost Ghana merchants paid for stock digitally due to barriers in confidence, product, and process. Through the LMM design sprint, two experts supported us to prototype solutions focusing on the CICO interaction between independent delivery agents and merchants. Within 6 months, 74% of Boost merchants were paying for their stock digitally, enabled by CICO agents. It was a successful project and a great experience working with the LMM team!”
How do I apply?
Interested ventures and startups can apply here. We’re currently accepting applicants until July 15th, 2022. So if you have an immediate design need or a pilot launching soon, we encourage you to apply early for an early decision.
Have questions? Email gdahiya@ideo.com.
We’re excited to work with you!
