Startupbootcamp AfriTech is thrilled to announce the selection of the Top 10 finalists for its highly anticipated ASIP Accelerator Program. This comes after a 3-day Virtual Final Selection Day event that was attended by nearly 40 mentors, investors, partners and industry experts. This process helped identify startups suitable for the program. The chosen finalists come from diverse backgrounds and offer a range of groundbreaking solutions that are poised to disrupt various sectors.
The final 10 startups will now participate in an intense three-month acceleration journey, during which they will receive invaluable mentorship, resources, and access to a network of industry experts and investors. The ASIP Accelerator Program powered by SBC AfriTech is dedicated to providing the guidance and support necessary for these promising startups to scale their businesses and achieve long-term success. SBC AfriTech is committed to growing the number of female founders in the ecosystem, and has co-authored the African Gender Diversity Pledge. We are proud to share that 60% of the startups in Cohort 4 have at least 1 female co-founder.
“The Startupbootcamp Afritech ASIP Accelerator Cohort 4 selection period definitely had a lot of surprises and many firsts,” says Program Director Henry Ojuor. “For example, AI emerged as one of the top sectors in our application pool. Also, 26% of all the startups that applied are in the growth stage. Major positive signals for the African Tech ecosystem. That didn’t make our job of selecting the final Top 10 easier however, but we delivered nonetheless. And I’m optimistic that we’ve assembled and are ready to accelerate Africa’s future success stories.”
Without further ado, here are the 10 finalists for the ASIP Accelerator Program:
10mg Pharma employs an AI algorithm based on the code tree model to pair healthcare providers with financing partners who meet specific criteria, facilitating bulk medication purchases and leading to savings of up to 15% that are then passed on to patients.
Babimo from Cote d’Ivoire provides a professional digital wallet to its B2B clientele. This infrastructure enables merchants to seamlessly transact and receive payments that inevitably increases profitability.
To address the problem of financial exclusion in off-grid communities in Nigeria, Betapawa Solutions offers an innovative solar-powered banking solution that integrates renewable energy, customizes services for local needs, and brings mobile banking directly to communities therefore supporting economic growth and scalability.
Edusko, also from Nigeria, offers a web-based, one-stop platform that matches kids with the right k-12 private schools and finances their education affordably. The solution allows parents to compare quality schools, make informed decisions, access tuition discounts and low-interest tuition finance and enroll their wards with ease.
Kori Tech is a Senegalese startup that has established KORIPASS, an E-wallet linked to physical payment accessories like bracelets, stickers, or keychains. It enables quick and easy merchant payments using NFC and QR Code technology. The best part? No internet or smartphone is required.
LyfPlus is a Tanzanian telemedicine platform that integrates virtual physician consultation, medical testing and e-prescription, allowing patients to access essential medical services instantly and conveniently. The platform is a web and mobile application covering all aspects of the patient process; where patients find doctors based on specialty, distance and price range, book tests, call and video consultations.
Messenger is a logistics platform from Nigeria that finances and aggregates end-to-end logistics and supply chain operations. They connect businesses to their customers through efficient logistics services.
Munakyalo Agrofresh from Uganda solves the problem of post-harvest losses faced by small holder farmers and market vendors by providing solar powered cold storage preservation units, known asCOLD HIVES, to smallholder farmers and market vendors. These extend the shelf life of perishable produce from the usual 2-day period to 21 days.
Ostafandy is an Egyptian startup that allows homeowners and construction professionals to estimate and finish buildingprojects through their Patent Pending Smart Quote and Algorithmic pricing engine with “Pay as You Go” Business Model.
Primed EHealth from Nigeria automates hospitals through their SaaS solution. The company also sells smartcards to patients with integrated wallets, allowing them access healthcare services without queues. Primed also improve the overall patient experience by providing a mobile app to book appointments and make payments to hospitals or Doctors in their network.
The ASIP Accelerator Program is funded by key partners, notably the Senegalese government through DER/FJ and the Dutch entrepreneurial development bank (FMO) through MASSIF, the financial inclusion fund FMO manages on behalf of the Dutch government, Telecel, AWS, Google for Startups, and Firstbase.
Participants will receive an intensive three-month coaching and support program to accelerate their growth and benefits worth $750,000 USD. Startups will also have access to the global 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 and industry experts from around the globe.
The program will take place in Dakar, Senegal and startups will be hosted at the D-hub, an innovation campus commissioned by DER/FJ. This will give startups an opportunity to explore their solutions in the Francophone market while connecting with key players for proofs of concept and pilots. Many founders consider this to be the biggest benefit of the program, and more than 60% of the alumni are scaling today on the basis of the commercial contracts that came through SBC introductions.
All of this will culminate in a Demo Day that will take place on the 8th of February 2024. On this day, the startup founders will pitch their accelerated disruptive solutions to a broad audience of media, investors, corporate partners, and industry stakeholders.
Startupbootcamp AfriTech also announced an exciting development which will certainly improve the environment of innovation at the Dakar campus. The Accelerator Program has launched constellation pilots, designed to empower later-stage startups and Senegalese companies as well.
“We are excited to announce the Sunu Gaal (New Market Readiness) Program dedicated to support 7 Senegalese startups with the help of the new Startup Success team who are charged with long term startup support,” says Ojuor. “We want to create a culture of innovation across our campus and with our assembly of 17 startups from 6 different countries, I couldn’t be more excited for the future of innovation in Dakar, Senegal and the continent at large.”
For more information about the ASIP Accelerator Program, please visit sbcafritech.com
About Startupbootcamp AfriTech
Startupbootcamp AfriTech was launched in 2017 as the first multi-corporate-backed pan-African startup accelerator. We run world-class accelerator programs, working with some of the most disruptive startups on the continent. We provide access to our global network of corporate partners, investors, and mentors. The SBC AfriTech portfolio currently has 60 African startups spanning 13 countries and operating in sectors that include FinTech, InsureTech, Logistics, Mobility, AgriTech and Digital Health.
With our support, 95% of SBC AfriTech alumni are still operational 2+ years after the program, and they have an aggregate valuation of nearly $1 Billion and 22% have female cofounders.
For more information visit: sbcafritech.com
DER/FJ is an institution under the authority of the Presidency of the Republic of Senegal and it was launched by President Macky Sall in 2018 in order to support entrepreneurs throughout Senegal. This support is given through both financial and non-financial services, with an emphasis on sectors that include technology and innovation, hence the creation of the D-hub incubator. For more information about DER/FJ visit https://der.sn/
FMO is the Dutch Entrepreneurial Development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a close to 50-year proven track record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have a high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.3 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit www.fmo.nl