African startups invited to apply for Singapore-based fintech accelerator

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African startups have been invited to apply for a Singapore-based fintech accelerator powered by VC firm Nest, which will see eight startups selected for a 12-week programme.

Nest and Singapore-based bank OCBC have partnered to launch the OCBC Accelerator, which is seeking ambitious startups from across the globe with innovative fintech propositions.

Selected teams will take part in a 12-week programme, gaining one-on-one working sessions with key decision makers within OCBC, key insights on how to build relationships with the bank and mentorship from industry experts across the fintech and banking sector.

Entrepreneurs will also benefit from Nest’s expertise in marketing and strategy as well as its network. OCBC and Nest will consider investing in participating startups and offer access to over 700 investors and partners. Applications close March 17, with the programme kicking off in May.

Nest, which services early-stage, high growth businesses, launched in Kenya last year, and will use Nairobi as a base from which to roll out accelerator programmes and invest in startups across Africa.

The company invested in Kenyan startup Ongair late last year, and has already offered African startups the chance to participate in a number of its Asian corporate accelerators. Two African companies – Kenya’s SuperFluid and South Africa’s Creditable – took part in a Hong Kong programme held in conjunction with DBS Bank, while Nest has also partnered co-working spaces Nairobi Garage and Cape Town Garage to offer startups a “soft landing” when visiting Hong Kong.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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