Applications have opened for the third edition of the Africa Startup Initiative Programme accelerator run by Startupbootcamp AfriTech, which is welcoming Dutch development bank FMO as a key partner.
Startupbootcamp AfriTech was launched in 2017 as the first multi corporate-backed pan-African startup accelerator. Disrupt Africa reported in March of last year it had partnered telecoms firm Telecel Group to launch the Africa Startup Initiative Programme, which aims to support the next generation of early-stage African tech startups disrupting a wide range of sectors.
ASIP backs young startups with innovative ideas that are creating a difference in their communities. Selected companies receive US$18,000 in equity funding in addition to US$750,000 worth of credits, services, and in-kind value.
Joining as a partner for the third edition is the Dutch Entrepreneurial Development Bank (FMO), a leading impact investor that supports sustainable private sector growth in frontier markets. Through its Ventures Programme and MASSIF, the financial inclusion fund it manages on behalf of the Dutch government, FMO invests in inclusive business models and partners with intermediaries to provide the expertise that improves business operations and also supports a more vibrant startup environment.
“As part of our entrepreneurial ecosystem building efforts, FMO was keen to support Startupbootcamp AfriTech in expanding their operations into more middle-tier markets. This partnership provides an opportunity to bring more world-class acceleration to entrepreneurs striving to build businesses that create jobs and better livelihoods for their families and communities,” said Ventures Programme manager Marieke Roestenberg.
FMO joins partners such as DER/FJ, AWS, and Google in supporting the ASIP accelerator programme, which aims to support the next generation of early-stage African tech startups disrupting key industry verticals that include fintech, agri-tech, climate-tech, e-commerce, e-health, and clean-tech. Inspired by FMO, Startupbootcamp AfriTech has also added mobility, micro-leasing, and digitising the informal economy as key focus areas.
“Particularly when it comes to our regional focus, the alignment we share with FMO is a key reason why this partnership is so important. With their assistance, we continue our mandate to empower founders with disruptive solutions,” said Startupbootcamp AfriTech co-founder Philip Kiracofe.
Once selected, participants will spend three months undergoing intensive coaching through expert-led masterclasses covering scaling fundamentals – from the business model canvas, and lean methodology, to fundraising. The programme will take place in Senegal, culminating in a hybrid demo day where startup founders pitch their disruptive solutions to a broad audience of media, investors, corporate partners, and industry stakeholders.
Startups will also have access to Startupbootcamp’s tailored coaching tool, the Accelerator Squared platform, which has a complete library of content, group workshops, 1:1 mentoring, collaborative sessions with entrepreneurs in residence, and invite-only discussion forums with founders from around the globe.