Kenyan agri-finance startup CapAgri is among the 14 teams from across the world selected to take part in the Bulgaria-based Starfleet Accelerator, which offers funding and support to blockchain startups.
This is the second edition of the Starfleet Accelerator programme, which is run by æternity Ventures, the investment arm of decentralised smart contracts platform æternity. Last year’s inaugural edition of the Sofia-based programme invested over US$1 million in nine businesses, including Kenyan startups UTU Technologies and RideSafe.
Kenya is again represented in the second cohort of the programme, with CapAgri among the finalists. The startup aims to provide advances to smallholder farmers based on future payments on agricultural produce via its mobile solution. æternity Ventures said the number of applications received from African blockchain startups doubled since the first programme.
CapAgri has already undergone mentoring in areas such as business models, token economics, æternity apps architecture, blockchain infrastructure and tooling, pitching to investors, and media relations from recognised experts during the programme’s “Genesis Week”, and will now proceed to the four-week acceleration stage.
The culmination of the programme is on April 11 at “Starfleet Demo Day”, where the teams will have the opportunity to present their projects to an audience of investors, thought leaders, media, and the global æternity community, and secure funding of up to US$100,000 in AE tokens.
“The Starfleet Accelerator programme demonstrates that, contrary to some of the bearish headlines about investments in the blockchain space, funding is available for the most promising and hard working startup projects,” said Nikola Stojanow, æternity Ventures’ chief executive officer (CEO).
“We have received applications from around the world and have 14 startups from the United States, Europe, Africa and South America competing for funding that will help us collectively establish aeternity as the leading global smart contract platform where blockchain startups flourish.”