TechInAfrica – After being selected in July this year, 10 tech startup took part in Startupbootcamp (SBC) AfriTech accelerate program for about 13 weeks. The program had come to an end and succeeded in raising R9 millions in funding as well as securing proof-of-concept (POC) and commercial agreements.
The program was supported and sponsored by RCS, BNP Paribas Personal Finance, Old Mutual, Nedbank, and PwC, providing startup owners with entrepreneurial skills and sponsorships for their business development.
The program was closed with Startupbootcamp AfricaTech Demo Day Conference that took place in Cape Town. At the closing event, the 10 selected startups collected more than 20 agreements and R9 millions of fund from investors and corporate leaders.
The CEO and Co-Founder of SBC AfriTech, Philip Kiracofe, said, “This year, we validated that our accelerator can help corporates scale internal innovation capabilities and turn those into spin-out companies, like the start-up Sizanani that participated in our accelerator programme.”
The closing event was also followed by the announcement of agreements from sponsors, such as; Digitech partners with West and Central Africa-based insurance company, SAHAM; L”ula partners with some of the large corporations in Cape Town; as well as Akiba and Brandbook partners with RCS for POC deals.
Meanwhile, during the closing ceremony, SBC AfriTech also announced its partnership with Uprise Africa, an equity crowd-funding platform.
Speaking about the Demo Day Conference, the Co-Founder and CIO of SBC Afritech Zachariah George said, “Our Demo Day is about showcasing our incredible start-ups from this year’s cohort, and linking them to potential investors. As part of the focus of supporting start-ups, we are excited to announce our partnership with Uprise, the first equity crowd-funding platform in SA to link great start-ups to alternative funding solutions.”
“The difference between being successful and being significant could not have been amplified more than in the founders of this year’s cohort. And we are so optimistic that that trend will continue to grow next year. This year’s start-ups proved how important it is to not just be successful, but to be significant, to build solutions above and beyond yourself and your community; build a legacy,” George added.
The 10 selected tech startups that joined the 13-week of the accelerating program are Brandbook, Prospa, Akiba Digital, L”ula, Pago, Sizanani, Mpost, Kudimoney, Digitech Group, and Inclusive Financial Technologies. The first six startups are from South Africa while the rest are from Kenya, Nigeria, Ivory Coast, and Ghana.