Ten African tech startups have been selected as the second cohort of Startupbootcamp AfriTech to take part in the Cape Town-based 3-month accelerator programme which would commence in August. Of the total number of startups chosen, 3 are Nigerian.
— Danielia Hermanus (@DanieliaHe) July 13, 2018
Having held a series of Fastrack events in countries around the world, Startupbootcamp Africa had received over a thousand applications from 73 countries. 22 were shortlisted and by the end of the two-day selection process, these 10 startups were chosen.
The 3 Nigerian startups taking part include Kudimoney, a no-charge digital bank; CredPal, a credit access startup for both online and offline merchants; and Bankly Technologies, a goal-based savings product that digitizes cash and allows transfer services through the use of vouchers.
The other 7 African startups include South Africa’s Akiba Digital (financial savings platform); Brandbook Analytics (a rewards app); Lüla (a mobility-as-a-service platform); and Prospa (a micro-savings solution). Ivory Coast, Ghana, and Kenya are represented by Digitech (InsurTech startup), Inclusive Financial Technologies (Know Your Customer solution), and MPost (a digital addressing solution) respectively.
— Badiah (@Badiah) July 12, 2018
While announcing the names, the Accelerator’s CEO, Philip Kiracofe, assured startups that the coming three months are going to be “absolutely exhilarating”. He said, “We are going to be here side-by-side, shoulder-to-shoulder, pushing you, cajoling you, encouraging you, nurturing you, mentoring you and helping you achieve 12 to 18 months’ worth of growth in a three-month span.”
The 10 selected startups would be provided with €15 000 ($17,500) in funding, office space for the whole period as well as access to several mentors and a network of industry partners, investors, and venture capitals. In return, the 10 will each have to give an 8% equity stake in return for taking part in the programme.
The 3-month accelerator begins on August 13 in Cape Town and culminates with a demo day on November 8. The accelerator is globally supported by Google Cloud, Cisco, and Amazon Web Services.
The first Startupbootcamp AfriTech programme was held last year and Nigeria’s HealthTech MOBIcure was a part of it.
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