The corporate-backed, fintech-focused Startupbootcamp AfriTech returns for a third edition this year after previous cohorts in 2017 and 2018, taking place in conjunction with sponsors Old Mutual, RCS, BNP Paribas Personal Finance, Nedbank, PwC and Dentons.
After almost 2,000 applications were received for the accelerator, 22 startups were invited to attend the final selection days in Cape Town on July 10-11. Those have now concluded, with 11 chosen to participate in the programme.
Three of those startups are from South Africa, namely big data platform Convergenc3 Databotics, lending platform Rentoza, and digital receipting app Snapslip.
Nigeria is represented by two startups in the shape of healthcare data platform Curacel Systems and blockchain-based property investment platform HouseAfrica, while the rest of the cohort is comprised of Kenyan money transfer service Asilimia, Moroccan mobility startup Weego, Senegalese e-commerce platform Yobante Express, Ugandan investtech platform Cinnamon Clubs, and UK-based data collection platform Survey54.
The 11 startups will gather again in Cape Town on August 12 to begin the three-month Startupbootcamp AfriTech programme, during which they will attend masterclasses, collaborate with corporate partners, and run pilots and proof-of-concepts in order to scale their companies.
They also be provided with free office space in Cape Town for the duration of the three-month accelerator, and receive EUR15,000 (US$17,000 in funding).
The programme will culminate in a demo day on November 7, at which startups will showcase their refined products to a network of investors, corporate partners and industry leaders.
“This is the most diverse representation we have ever had, with teams from 7 different countries across the continent. Our corporate partners are becoming more sophisticated in their selection process and we are very excited about the potential for commercial agreements with these startups,” said Startupbootcamp AfriTech programme director Nsovo Nkatingi.