The Johannesburg-based Founders Factory has opened applications for its African accelerator, a six-month, corporate-supported programme that aims to give startups an “unfair competitive advantage”.
Founders Factory launched in London in 2015 and has already built 70 startups, raised GBP100 million (US$130 million) in funding, and implemented 60 pilots with its corporate partners.
Disrupt Africa reported in October Founders Factory had launched its African operations in Johannesburg, from where it plans to design, build and scale 100 disruptive tech startups across Africa over the next five years.
The African launch took place in partnership with Standard Bank, which made a multi-million dollar investment into Founders Factory Africa. The company will grow existing businesses through its bespoke six-month accelerator programme, whilst an incubator will build completely new businesses focused on addressing key issues on the continent.
Applications for the accelerator are now open, with Founders Factory looking for startups in the fintech and e-health spaces to apply. Participating startups will also have access to global capital, talent and knowledge transfer through the Founders network, which includes world-class entrepreneurs, investors, corporates and successful startups across Africa, Europe, the UK and the US.
Standard Bank will provide access to market, supply chains, customer acquisition channels, data and IP to the startups. These resources and infrastructure will deliver an “unfair competitive advantage” to the businesses that Founders Factory Africa scales.