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Application DetailsApplications are now open for early-stage fintech and proptech startups based in Africa, starting from June 6 until August 24, 2022. The selection process will result in 12 startups being chosen for the program. The inaugural in-person class will begin on December 5, 2022, and will culminate with a Demo Day on March 16, 2023, where local investors, community members, government officials, and business leaders will witness the transformative impact of entrepreneurs on the African fintech and proptech landscape.
Program BenefitsSelected startups will gain access to Techstars’ extensive network, including over 7,000 mentors, 20,000 investors, and more than 10,000 founders, alumni, and corporate partners. Additionally, they will receive up to $120k in funding, benefit from curated startup programming, and participate in one-on-one mentorship sessions with mentors.
Program PhasesThe first month of the accelerator program will focus on assessing product-market fit and providing hands-on training with mentors to help founders refine their products into solid proofs-of-concept. The second month will involve execution and implementation, while the final phase will concentrate on assisting startups in refining their financial business models and fundraising strategies.
Techstars’ Presence in AfricaAlthough this marks Techstars’ first accelerator program in Lagos, the company has been actively engaged in the African tech ecosystem since 2011. Their involvement includes hosting over 400 Techstars Startup Weekends across 40 countries and operating the Barclays Accelerator Powered by Techstars in Cape Town from 2016 to 2017. Techstars has also invested in 14 Nigeria-based startups, such as Healthtracka, FarmCrowdy, and Rent Small Small, through its other early-stage entrepreneurial programs.
Techstars’ Track RecordThis accelerator program has invested in approximately 3,000 startups globally, with a cumulative market capitalization of over $73 billion. The average first raise post-program stands at $1 million, and Techstars has contributed to the emergence of 19 unicorns thus far. Featured Image Source: TechCrunch
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