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  If you run a startup in its early stages of development and you’re looking to speed up its growth, here’s an opportunity to achieve that.
Read more about Opportunities
Organizers of the Africa Startup Initiative Program (ASIP) are looking to support tech startups in Africa with the technical know-how, resources, and funding they need to begin scaling rapidly. Startups selected will take part in an accelerator program that will enable them to fashion and execute pilot projects, and become even more viable. The ASIP accelerator is backed by Telecel Group, an international telecommunication company, which runs the program in partnership with Startupbootcamp AfriTech, an African startup accelerator. The current program, which is its second cohort, is also supported by the Government of Senegal.

Startups Targeted

The ASIP accelerator targets startups operating in the supply chain, AgriTech, FinTech, IoT and connectivity, cybersecurity, Machine Learning (ML), blockchain, CleanTech, and RegTech.

Successes Recorded So Far

The first Startupbootcamp AfriTech program has recorded multiple successes. Of the 40 startups that participated in that accelerator, about 88% are still active and 50% are self-sustaining. Their valuations have also soared, reaching up to 10 times what they were worth at the end of the accelerator.
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Benefits

Startups selected to take part in the ASIP accelerator program will benefit in the following ways:
  • Get benefits valued at over €500,000, including credits from Google Cloud Services, AWS, Hubspot, and others.
  • Receive investments of €15,000 each from the ASIP accelerator
  • Participate in intensive coaching and one-on-one mentoring that will enable them to speed up their growth
  • Increase their chances of getting into long-term commercial agreements with valuable partners

Eligibility

To be eligible for this program, startups must meet these conditions:
  • Be incorporated in an African country
  • Run by a team of at least two people who devote at least 50% of their time to it
  • Have existing customers or clients who use the startup’s products or services
  • Generating revenue from its services or products

How The Program Will Unfold

Applications will remain open until January 28, 2022. The ten startups that will participate in the accelerator will be selected from March 9-11. The program will take place in Dakar, Senegal, and will run from April 11 to July 7, culminating in a Demo Day in which participants will pitch their startup to a panel of investors, corporate partners, industry stakeholders, and the media. To find out more about the ASIP Accelerator Program, click here. Featured Image Source: Innovation Village
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This article was first published on 2nd December 2021

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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