African startups invited to apply for Hong Kong-based fintech accelerator

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African fintech startups with solutions in artificial intelligence, data analytics, blockchain, wealth management and more have been invited to apply for the Hong Kong-based DBS Accelerator programme.

This is the second edition of the accelerator, jointly run by DBS Bank and Nest. The first edition saw two African startups – Kenya’s SuperFluid Labs and South Africa’s Creditable – take part.

Startups can apply now for the programme, which runs between July and November and is aimed at supporting startup businesses and entrepreneurs from around the world in delivering breakthrough innovations and technologies in fintech.

Successful applicants will travel to Hong Kong and work from the Vault, a dedicated state-of-the-art 5,000-square foot workspace. Here, they will be guided through their business growth and development with the help of business mentoring from DBS Bank, Nest and other partners.

“At the heart of the DBS Accelerator programme is our commitment to shape the future of finance by transforming how we operate and serve our customers through digital innovation,” said DBS Bank (Hong Kong) chief executive officer (CEO) Sebastian Paredes.

“The success of DBS Accelerator shows that the fintech startup ecosystem has a firm foundation in Hong Kong as a dynamic platform to foster talent, drive groundbreaking innovation and deliver tremendous opportunities for growth.”

Nest CEO Simon Squibb said his company was excited to once again work with DBS on a project making a real and valuable contribution to the development of fintech.

“Our first cohort featured 10 exceptional entrepreneurs from around the globe but they had one thing in common – aspirations to build their business in Hong Kong and scale it across Asia and beyond,” he said.

“Our programmes give founders access to a network and support that can make a difference. As we embark on another chapter, I am personally looking forward to working with the companies in the new cohort to give them the best possible chance of success.”

The DBS Accelerator is supported by partners such as Amazon, Microsoft, IBM, InvestHK, KPMG, Samsung, Yodlee and Thomson Reuters.

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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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