TechInAfrica – The AlphaCode Incubator programme is held again. The same with the previous purpose, this program aims to find a financial technology company that can help the growth of the economy after COVID-19.
Alphacode Incubator is a program that aims to determine, partner, and increase new and fresh financial services and entrepreneurs.
For this latest round, the applicants that are selected to join this program will receive financial support, counseling from performance coaches and a panel of advisory experts. Also, the applicants will have access to AlphaCode’s co-working space and chance to implement for advance early-stage investment.
Andile Maseko, Head of Ecosystem Development at AlphaCode said that through AlphaCode Incubate, they will know how much option is needed to make a new early stage enterprise or idea. In the first attempt, many challenges should be resolved by entrepreneurs and in order to succeed, it is important to discover the way to point out the challenges.
In this round, AlphaCode Incubator program only selected 10 startups or entrepreneurs. The program will be held during a 12-week intensive pre-incubation valued at R500 000, including R150 000 in grant funding for each participant.
Alphacode announced that the incubation program will focus on achieving a feasible business, and will end in a demo day, where participants will contend for a place in a six-month step-up programme.
After the competition, there will be five startups selected to join the step-up programme. They will receive an intensive stage focused on achieving product-market fit, as well as financial viability.