Cameroonian incubator ActivSpaces will in January launch Activation Bootcamp, a six-month accelerator programme, offering each selected startup funding, mentorship and support valued at XAF4.6 million (US$8,500).
Applications for the programme open on January 5 and close on January 19, with successful applicants going through the six-month programme while also receiving XAF1 million (US$1,900) in direct seed funding.
“Launching a startup is hard, launching one in Cameroon even harder. The goals of the accelerator programme are to help startups make sales, gain traction, and attract investment from external investors,” ActivSpaces said.
Applicants will be reviewed by ActivSpaces staff and esteemed members of the community, with shortlisted startups then invited to pitch their idea to a panel, after which the selected startups will be announced.
After a six month grace period after completion of the programme, startups will pay ActivSpaces a royalty of between five and 10 per cent of their total revenue until they have repaid the XAF4.6 million.
“Since repayment is based on revenue, startups will only make payments if and when they start generating revenue,” ActivSpaces said.