Startupbootcamp AfriTech, the leading accelerator program focused on nurturing African startups, is thrilled to announce the opening of applications for Cohort 4 of its highly successful ASIP accelerator program. The program presents an exceptional opportunity for early-stage startups in Africa to supercharge their growth and gain invaluable industry insights, mentorship, and access to a global network of investors and corporate partners.
Africa is experiencing an unprecedented surge in technological innovation, as a wave of dynamic and ambitious tech startups are emerging across the continent. From bustling metropolises to remote rural communities, these startups are harnessing the power of technology to solve complex challenges and drive economic growth in diverse sectors.
Since its inception, Startupbootcamp AfriTech has played a pivotal role in empowering African entrepreneurs and driving innovation across various industries. With a proven track record of success, the program has supported 60 startups since 2017.
“Earlier this year, we witnessed history in the making as startups from our ASIP Accelerator got on stage to demo their innovations and traction to the world,” says Program Director Henry Ojuor. “With $4.5m worth of fundraising discussions and tens of corporate pilots across the cohort, we’re back on the road in search of the next set of innovative entrepreneurs for ASIP Accelerator cohort 4.”
“Amidst the vibrant rhythm of Africa’s untapped potential, we’ll be crisscrossing the entire continent seeking to scout, skill, and scale the top promising innovators. We’re excited and looking forward to meeting you and can’t wait to help launch you into the moon!” he added
The ASIP Program is supported by partners such as DER/FJ, the Dutch Entrepreneurial Development Bank (FMO), through MASSIF, the financial inclusion fund FMO manages on behalf of the Dutch government, AWS, Google for Startups, and Firebase. ASIP aims to support the next generation of early-stage African tech startups disrupting key industry verticals. With an ever-expanding pool of entrepreneurial talent, supportive ecosystems, and increasing access to capital, Africa has become a hotbed for innovation and a fertile ground for startups to flourish.
“As a catalyst for the ecosystem, DER/FJ is committed to accompanying and supporting these promising start-ups,” says the General Delegate for Entrepreneurship – DER/FJ, Mame Aby Seye. “We firmly believe in their ability to transform industries, create added value, and contribute to Senegal’s economic growth. We are putting our resources, expertise, and network at their disposal to help them achieve their goals.”
Another notable partner FMO invests in inclusive business models and provides the expertise that startups need to improve their business operations while also providing broader support to facilitate a vibrant start-up environment in the regions where the program invests.
Speaking on this, FMO Partnerships for Impact Senior Associate Esther Njoroge said, “Following the success of the entrepreneurs in Cohort 3, we are excited to once again partner with Startupbootcamp on Cohort 4 of the ASIP Accelerator and look forward to following the progress of the participating startups. The innovative and transformational business models this program supports help build a more robust entrepreneurial ecosystem across the African continent in critical industries.”
The program is open to startups in various sectors, including but not limited to FinTech, InsureTech, AgriTech, Climate-tech, eCommerce, Digital Health, Green-Tech, Mobility, digitizing the informal economy, and empowering artisans. The selection process will focus on startups with a minimum viable product (MVP), demonstrated market traction, and a strong founding team.
Once selected, participants will spend 3 months undergoing intensive coaching through expert-led masterclasses covering scaling fundamentals -from the business model canvas, and lean methodology, to fundraising. The program will take place in Senegal, culminating in a Demo Day where startup founders pitch their disruptive solutions to a broad audience of media, investors, corporate partners, and industry stakeholders.
Startups selected for the accelerator program will benefit from a comprehensive and tailored support system, including:
- Expert Mentorship: Access to a global network of industry experts, seasoned entrepreneurs, and investors who will provide guidance and support in key areas such as business strategy, market expansion, and fundraising.
- Industry Connections: Opportunities to connect with leading corporations and potential partners within the program’s extensive network. These connections can lead to valuable collaborations, pilot projects, and distribution opportunities.
- Funding Opportunities: Access to investor networks and the chance to secure funding during the investor Demo Day, where startups can showcase their progress and pitch to a room filled with potential investors.
- Extensive Resources: Exclusive access to access to Startupbootcamp’s tailored coaching tool, the Accelerator Squared platform which has a complete library of content, group workshops, 1:1 mentoring, collaborative sessions with Entrepreneurs in Residence, and invite-only discussion forums with founders from around the globe. The 10 startups in the program will also receive benefits valued at more than $750,000, including credits from AWS, Google Cloud Services, and many more. SBC also invests $18,000 in cash.
- Alumni Network: Integration into the vibrant Startupbootcamp AfriTech alumni community, providing ongoing support, knowledge-sharing, and collaboration opportunities even after completing the program.
SBC Afritech will host FastTrack scouting events in countries that include Ivory Coast, Nigeria, Ghana, Kenya, Ethiopia, South Africa, Senegal, Uganda, Morocco, Cameroon, Tanzania, Rwanda, and Egypt
- Application Deadline: 8 September 2023
- Final Selection Days: 18 October 2023
- Cohort 4 Start Date: 13 November 2023
To apply and learn more about the Startupbootcamp AfriTech Accelerator Program, visit sbcafritech.com
Applications will be accepted until 11:59 GMT on 8 September 2023
About Startupbootcamp AfriTech
Startupbootcamp AfriTech was launched in 2017 as the first multi-corporate-backed pan-African startup accelerator. We run world-class accelerator programs, working with some of the most disruptive startups on the continent. We provide access to our global network of corporate partners, investors, and mentors. The SBC AfriTech portfolio currently has 60 African startups spanning 13 countries and operating in sectors that include FinTech, InsureTech, Logistics, Mobility, AgriTech, and Digital Health.
With our support, 95% of SBC AfriTech alumni are still operational 2+ years after the program, and they have an aggregate valuation of nearly $1 Billion, and 22% have female co-founders.
For more information visit: http://bit.ly/sbcafritech
Der/FJ is an institution under the authority of the Presidency of the Republic of Senegal and it was launched by President Macky Sall in 2018 in order to support entrepreneurs throughout Senegal. This support is given through both financial and non-financial services, with an emphasis on sectors that include technology and innovation, hence the creation of the D-hub incubator. For more information about DER/FJ visit https://der.sn/
FMO is the Dutch Entrepreneurial Development Bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a close to 50-year proven track record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have a high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.3 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit www.fmo.nl