The technology sectors are not only solving some of Africa’s most pressing problems, they’re also contributing significantly to the continent’s evolving economy. Africa’s “Internet” economy is set to reach 5.2% of GDP by 2025, contributing an estimated $180 billion to the regional economy.
To develop the potential of startups driving the Internet economy, Telecel Group has opened applications for the ASIP Accelerator Program powered by Startupbootcamp AfriTech. The program allows startups to achieve 18 to 24 months worth of growth in just three months. Now, the next generation of early-stage African tech startups disrupting a wide range of industry sectors are actively being sought.
29 startups completed the first Startupbootcamp AfriTech program, and 90% of participating startups are still operating and maintaining impressive rates of growth. What’s more, 40% have raised follow-on rounds of funding, with the average increase in valuation being 10-fold since their Demo Day.
Ten startups will be selected to participate in the programme that will give them access to expert-led masterclasses covering scaling fundamentals from the business model canvas and lean methodology to fundraising. They will also receive tailored mentorship from carefully selected mentors who will provide hands-on support and valuable introductions. Plus, they will be connected with venture capitalists and angel investors from around the world and will connect with leading figures in their industries for collaboration on pilot projects and partnership opportunities.
In addition to this, successful applicants will receive €15,000 in cash, and will be granted access to over €500,000 in exclusive partner deals from leading technology providers such as Amazon Web Services, Google Cloud, HubSpot, and SendGrid, amongst others.
The three-month programme will conclude with a digital Demo Day, during which startups will present their newly scaled-up solutions to hundreds of investors, corporates, mentors and press attendees. Notably, the participants will continue to receive support via the Alumni Growth Programme; which offers access to alumni-only events, deals and tailored introductions long after the programme ends.
In addition to corporate partner Telecel Group, notable sponsors of the programme include Google Cloud Platform, Amazon Web Services, Hubspot, VC4A and Cloudworx. There remains a limited number of slots for additional corporate partners to join the consortium. These partners will enjoy the rare opportunity to help determine the key challenge areas that will be the focus of the programme’s startup scouting, and sit on the exclusive selection committee that will select the top 10 startups to participate in the programme.
Additionally, they will have the chance to engage in curated pilot and proof of concept projects with select startups to accelerate innovation within their own organisations.
The completely virtual, Pan-African Programme kicks off in July 2021. with applications remaining until 14 May.