Telecel Group through its subsidiary Africa Startup Initiative Program has partnered with Startupbootcamp AfriTech to launch the Africa Startup Initiative Program Accelerator. ASIP aims to identify the continent’s most talented entrepreneurs in telecom and technology while helping them scale their businesses. This partnership will help Startupbootcamp AfriTech give early-stage startups access to leading accelerators in Africa.
The SBC model
SBC AfriTech program began in 2017 where 29 African startups have been accelerated. 90% of the startups that made it to the program are still scaling and operating. 40% have managed to raise follow-on funding from their initial investments. Over 50% of the startups raising capital are now valued at 10 times more than their demo day.
The next generation of African startups will disrupt the industries of fintech, e-commerce, cleantech, digital health, and Insuretech. Backed by Telecel Group, the program startups with a mobile tech focus are highly encouraged to apply.
During the pandemic, SBC launched Accelerator Squared, an online platform enabling startups to access a complete library of content in the form of mentoring, collaborative sessions with entrepreneurs, and invite-only discussion forums with global founders. A demoday isheldwhere startup founders pitch their disruptive solutions to the media, corporate partners,investors and other industry stakeholders.
Applications open soon where 10 startups will receive €500,000 in benefits, including AWS credits, Google Cloud Services, and much more. SBC will further invest €15,000 in cash.