Funding up for grabs in Startupbootcamp accelerator

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 25 Mar 2021

Telecommunications services provider Telecel Grouphas opened applications for its ASIP Accelerator Programme, powered by Startupbootcamp AfriTech, which seeks to support Africa’s most disruptive start-ups.

Founded in 2010, Startupbootcamp AfriTech is endorsed by multiple corporate sponsors, including Old Mutual, Nedbank and PwC, with global sponsors that include Amazon Web Services (AWS) and Google Cloud.

The three-month accelerator programme seeks innovative early-stage start-ups from all industries, which have developed solutions focused on creating a positive change in Africa. Further, it aims to encourage and support entrepreneurship on the continent, by providing start-up owners with entrepreneurship skills and development support.

The programme says it helps start-ups achieve between 18 and 24 months of growth in only three months.

Ten start-ups will be selected to participate and will have access to expert-led masterclasses covering scaling fundamentals – from the business model canvas, and lean methodology, to fundraising.

They will also be connected with venture capitalists and angel investors from around the world and get to meet the leading corporates in their industries for pilot projects and partnership opportunities.

According to Startupbootcamp, technology sectors such as fintech, insurtech, agritech, e-commerce, healthtech and cleantech are not only solving some of Africa’s most pressing problems, they are also contributing significantly to the continent’s economy.

The Internet economy is forecast to reach 5.2% of gross domestic product by 2025, contributing about $180 billion to the African economy.

“With this unique programme, Startupbootcamp brings together top start-ups from around the world, a mentor network of renowned industry experts and entrepreneurs, and major players in banking, insurance, consultancy, leasing and technology as founding partners,” says Startupbootcamp.

“Startupbootcamp will provide each team with €15 000, free office space, access to funding and a network of industry partners, investors and venture capital firms. Over and above all this, the successful start-ups will receive €15 000 in cash and have access to over €500 000 in exclusive partner deals from leading technology providers such as AWS Google Cloud, HubSpot and SendGrid, among others.”

The ASIP Accelerator Programme was founded by Moh Damush, Telecel Group CEO.

The three-month programme will conclude with a virtual Demo Day during which start-ups will present their newly scaled-up solutions to hundreds of investors, corporates, mentors and press attendees, notes the accelerator.

Twenty-nine start-ups completed the first Startupbootcamp AfriTech Programme and 90% of participating start-ups are still operating and scaling at impressive rates, it notes.

In addition to corporate partner Telecel Group, sponsors include Hubspot, VC4A and Cloudworx.

There are a limited number of slots for additional corporate founding partners to join the consortium.

These partners will have the rare opportunity to help determine the key challenge areas that will be the focus of the programme’s start-up scouting and sit on the exclusive selection committee that will choose the top 10 start-ups to participate in the programme.

The completely virtual, Pan-African programme kicks off in July. Applications close on 14 May. To apply, or for more information, visit the Startupbootcamp AfriTech Web site.