Yale University will host the multi-million global VentureClash competition which sets the stage for top 10 finalists for this year’s grand event.
This year presents a very much anticipated from Connecticut Innovations, the VentureClash challenge. Among the finalists is a South African startup Pineapple.
The challenge invites promising startup companies worldwide in areas of fintech, digital health, industry, and insurtech to compete for a total of $5 million worth of investment prizes. Application started as early as February this year and has now come to its final 10 which will pitch live on October 17 at Yale University.
For this year’s set of finalist, it composes of three US companies and seven foreign ventures. The major prize for this competition includes mentoring, customer introduction, high-grade services from Connecticut Innovations, and a whopping $1.5 million. $3.5 million will be distributed for secondary and minor prizes of the competition.
African company Pineapple makes it to VentureClash
In a competition that is filled with heavy credentials in startup businesses, this insurtech company from Africa “Pineapple” slicked its way in making to the Top 10.
Pineapple, founded in 2017, is a peer-to-peer insurance provider. It is the first-ever insurance startup to be accepted in Google’s accelerator way back in 2018.
The mechanics of this app is to reinvent the way insurance is done. It aims to achieve fairness, simplicity, transparency, decrease cost, and eliminate cases of fraud.
With its inclusion in the Top 10 for the VentureClash competition, co-founder Matthew Smith is thrilled.
It just reaffirms to us that the Pineapple solution got what it takes to solve insurance issues at a global level, it can stand firm on the global platform
SA insurtech startup Pineapple finalist in $5m VentureClash challenge https://t.co/2ybEvswzWO
— Disrupt Africa (@DisruptAfrica) September 20, 2019
Matt Mc Cooe, chief executive officer for Connecticut Innovations, said that this year’s VentureClash challenge brings intense excitement to a lot of spectators and even the judges, the ideas and presentations since the early stages are already impressive, looking forward this coming October 17. The competitions intend to inspire more startup companies to dream big and come up with world-class innovations.
