The outbreak of Covid-19 has exposed a lot of inefficiencies and magnified hidden problems in Africa’s business climate. There are several individuals and collectives working on such solutions given their difficulty to attract funding. The Digital Financial Services (DFS) Lab hopes to attract such entrepreneurs and offer support in their programme.
Why DFS Labs?
Digital Financial Services Lab is a company founded from a grant by the Bill and Melinda Gates Foundation. Their main focus is on fintech startups across Subsaharan Africa and SouthEast Asia. DFS offers grants to startups while still in their early stages. Their end game is to offer advice and funding during the startup’s evolution.
DFS holds regular mentorship programs such as AWS (Amazon Web Services) and other mobile applications supported by Global Accelerator Network (GAN).
The DFS Cohort programme
DFS is searching for African startups in the following industries; fintech, eCommerce, logistics, healthcare, and agricultural technology. The products must have a viable MVP. The company will invest $25000 and take a little equity as advisory shares. Occasionally, they make exceptions to their standard terms and can add to their initial investment at the pre-seed stage.
You can apply for the programme here.