Fig Tech Announced Regional Winner of Financial Inclusion by MIT IIC and Ralph C. Wilson Foundation
Fig36 tops the shortlist for Financial Inclusion companies using technology to drive economic opportunity for workers.
DETROIT, Oct. 12, 2018 /PRNewswire-PRWeb/ -- Fig was named North American Regional Winner of Financial Inclusion in the 3rd annual MIT Inclusive Innovation Challenge Awards. Fig36 tops the shortlist for Financial Inclusion companies using technology to drive economic opportunity for workers. The full ceremony is available to watch here.
As featured in the Wall Street Journal, Huffington Post and the Boston Globe, MIT IIC is the premiere competition for organizations using technology to reinvent the future of work.
The IIC is a global tournament spanning five regions—North America, Latin America, Europe, Africa and Asia. North American winners were chosen by a panel of expert judges including Carolyn Cassin, General Partner of Michigan Womens' Foundation, Ebony Pope of Village Capital and Mitchell Barker, Co-Founder of Mozilla.
More than $200,000 in prizes went to the regional winners in four categories: Job creation and Income growth, Skills development and matching, Technology Access and Financial Inclusion. Awards were funded with support from Google.org, the Ralph C. Wilson Foundation, software firm ISN and ISN President and CEO Joseph Eastin.
Fig Tech, North American winner of the Financial Inclusion category, was founded in Houston, Texas and works with non-profits like the United Way to provide credit building products that bridge families from income volatility to financial stability.
"We are beyond humbled and excited to be selected as the North American Winner in the Financial Inclusion category" says Head of Partnerships, Zara Mohidin. "To even be in the same category as the Financial Clinic was an honor. I'm thrilled we will be able to shine a light on the needs of the underbanked."
Fig Tech, alongside the other three North America Regional Winners, will advance to the IIC Global Grand Prize Tournament and Celebration in Cambridge, MA in November 2018. One million dollars in prize money will be awarded to four Global Grand Prize Winner, selected from Regional Winners from around the world.
About Fig Tech
Originally a collaboration with the financial coaches at the United Way of Greater Houston, Fig provides credit building products for consumers and financial stability tools for community organizations. Started in 2015, Fig is a graduate of TechStars Seattle in 2016 and has provided over $3M in loans to underserved Americans. Fig operates in Texas, Missouri and Illinois. To learn more about the Fig36 product visit https://www.figloans.com/community-loans.
About MIT IDE
The MIT Initiative on the Digital Economy (IDE) explores how people and businesses will work, interact, and prosper in an era of profound digital transformation. ide.mit.edu @MIT_IDE
SOURCE Fig Tech
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