Startupbootcamp, a global network of industry startup accelerators recently made an announcement about the launch of its maiden edition of accelerator program in Africa, which is to be held in Cape Town, South Africa.
Accelerator programs are intended to accelerate the growth of startups and also to expand the startup. Startupbootcamp isn’t straying away from this purpose as the network seeks for tech startups that will get access to accelerate the startups’ growth through the accelerated program, and also to grant the startups mentorship access, access to partners and investment opportunities in their industry to help scale their companies.
The startups chosen are all matched with equivalent industry focus from the level of support that’ll be gained from the accelerator programs.
The purpose of the accelerator program organized by Startupbootcamp is to accelerate the growth of the startups and to link them with classic companies that will grant them joint access to building the tech ecosystem in Africa.
The program is a 3-month intensive accelerator program that is concentrated on scouting for sustainable technological solutions. These solutions are applicable to the financial sector of the economy.
The most promising startups will receive €150,000. The startups that will receive the funds are expected to be 10 in number, with each receiving €15,000 each. The 10 startups will also receive mentorship access and free space that can function as offices for the startups. The startups will not only benefit just these but will also gain access to industry partners, VC firms, a convertible note, investors and also prospective seed funds.
“The African Tech and digital landscape is growing exponentially, and we believe that the future of innovation will come from Africa. Cape Town is one of the most vibrant and creative hubs on the continent and we are both excited and humbled to contribute by attracting global expertise here,” said co-MD of Startupbootcamp Cape Town, Philip Kiracofe.
The program will be launched by invited startups all over the globe pitching their ideas at a quick session of days between May and July 2017.The quick session of days are tagged ‘FastTrack’; where about 5 major cities including Lagos will host the FastTrack. The ideas will be pitched before a Startupbootcamp team.
The areas of specialization of each startup that wants to apply should be from areas of payment solutions, data and behavioural analytics, enabling technologies, insurtech, retailtech, capital markets and asset management, integrated supply, digital connectivity, blockchain, connected devices and e-commerce.
The program will commence on September 4 2017, although the application for the program is to end on the 9th of July 2017.