The 10 startups selected by Startupbootcamp (SBC) AfriTech for its 2018 cohort all have “market-ready” solutions, with SBC’s sponsors ready to work with them “from today,” said Philip Kiracofe. president of the accelerator.
Kiracofe was speaking at the announcement of the 10 startups selected to join the second cohort of Accelerators based in Cape Town, which took place yesterday, following a two-day selection process held in PwC offices at Cap.
The accelerator sponsors – who recently changed their name to Startupbootcamp AfriTech to better reflect their interest in African technology – include other big names such as RCS, BNP Paribas, Nedbank and Old Mutual.
At the announcement, Kiracofe assured startups that the next three months will be “absolutely exciting”.
The second cohort of SBC AfriTech is made up of startups from South Africa, Côte d’Ivoire, Ghana, Kenya and Nigeria.
“We will be here side by side, shoulder to shoulder, to push you, cuddle you, encourage you, feed you, mentor you and help you grow 12 to 18 months in three months. duration, he says.
The 10 members were among the 22 startups on the list after more than 1,000 applicants from 73 countries applied for a three-month program earlier this year.
The last 10 were selected based on a number of criteria, including team competencies, leadership and commitment, and scalability of their respective products. In addition, judges also examined market timing, growth and competitive advantages.
The 10 are:
Akiba Digital (South Africa): a financial savings platform that also plays a role as a coach in personal savings, which takes advantage of artificial intelligence (AI), machine learning and gamification to democratize wealth in Africa.
Bankly Technologies (Nigeria): Goal-based savings product that scans cash and allows for cross-country, peer-to-peer transfer services through the use of coupons.
Brandbook Analytics (South Africa): A mobile application offering users free gift card coupons for purchases made, with the ability to collect large amounts of consumer data and improve forecasts and analysis.
CredPal (Nigeria): an innovative solution that uses detailed data and provides people with instant access to point of payment credit for different online and offline merchants.
Digitech Group (Ivory Coast): a startup that provides incumbent insurance companies with a digital cloud platform that enables them to sell insurance products through mobile telephony and the Web.
Inclusive Financial Technologies (Ghana): This startup’s API is helping digital financial services reach the most distant customers in Africa by enabling them to integrate, verify and control them via digital channels.
Kudimoney Bank (Nigeria): a no-cost bank offering a full range of online services and making banking services more affordable and accessible by offering an interest-free account, a savings account with interest rates and a above-average access to instant, low-interest loans.
Lüla (South Africa): a platform that connects stakeholders to improve mobility by providing convenient, accessible and safe transportation, and allowing operators, cities and travelers to better understand transport.
MPost (Kenya): Patented solution providing legally recognized physical addresses for approximately 95% of the African population without a postal address.
Prospa (South Africa): A micro-savings solution for low-income South Africans that allows users to buy savings coupons entitling them to a fixed amount of savings deposited in a Mobi-Savings account .
Each of the 10 startups will receive 15,000 euros, offices, more than 100 mentors and a network of industry partners, investors and venture capitalists.
In return, the 10 will have to give up an eight percent stake in return for participating in the program.
The SBC AfriTech program will start on August 13th and end with a demonstration day on November 8th.
The program was launched last year as Africa’s first Startupbootcamp-based accelerator. More than 40o start-ups have applied to join the inaugural cohort of Brownie Points, Dusu Pay, Fo-Sho, Got Bot, Just Now, Khoyn, MOBicure, Strider, Virtual Drive and Yethu .