By Idris Bakare
Startupbootcamp Afritech, an accelerator program focused on building African startups said applications are open for Cohort-4 of its ASIP accelerator program.
According to the organisers, ASIP accelerator program presents opportunity for early-stage startups in Africa to supercharge their growth and gain industry insights, mentorship, and access to a global network of investors and corporate partners.
The program director, ASIP, Henry Ojuor said ,“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.
“With $4.5m worth of fundraise 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.”
The organisers said the programme has played important role in empowering African entrepreneurs and driving innovation across various industries, supporting 60 startups since inception in 2017
“Amidst the vibrant rhythm of Africa’s untapped potential, we’ll be criss-crossing 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,” Ojuor added.
The Program according to the organisers is supported by partners including 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 Firstbase. “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.
The general delegate for entrepreneurship, DER/FJ, Mame Any Seye, speaking on the partnership said as a catalyst for the ecosystem, they committed to accompanying and supporting these promising start-ups.
“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,” Seye said.
Esther Njorog, senior associate, FMO speaking on the partnership said, “Following the success of the entreprenuers 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 helps 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.
Selected participants according to the organisers will spend three 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.
Meanwhile selected startups will benefit from a comprehensive support system, including expert Mentorship, Industry Connections, Funding Opportunities, Extensive Resources and Alumni Network.
Applications end on 8 September and the final Selection Day is 18 October 2023. The Cohort-4 will commence on 13 November 2023
