How to Accelerate FinTech startups in Africa
OVER 500 INVESTORS will be at the AFF Accelerator Program. Applications for the @africafintechfoundry Accelerator program is currently open. You can register via www.africafintechfoundry.com. What are you waiting for? Register now to help shape the future of technology in Nigeria
AFF Accelerator Program
Africa FinTech Foundry (AFF) is an Access Bank initiative that aims to nurture, fund, and accelerate the growth of FinTech startups in Africa through its mentorship and accelerator programmes, fast-tracking their growth and maturity to deliver relevant solutions to the market, providing greater access to financial services to the financial excluded across the continent.
The 12-week accelerator program is broken down into 3 phases:
This phase forces your startup to justify assumptions, prove market viability and build a clear proposition. This is achieved through the help of our amazing mentors and coaches.
This phase focuses on refining your product, planning your finance and implementing a go-to-market strategy. We will offer you our network of customers to arrange partnerships and sales opportunities.
This phase pulls together all the elements and gets your startup investment-ready. Lawyers, accountants and pitch trainers will all be brought in to ensure your team has the correct skills and materials to pitch for and receive investment. An Investment Demo Day will be held with Angels, Private Equity and Venture Capitalists.
AFF WILL HAVE A PRE AND POST VALUATION OF EACH SOLUTION
OUR SESSIONS WILL HOLD 1 – 3 TIMES A WEEK AND TYPICALLY RUN FOR 1-3HRS
- Founders Dinner session every Friday where top founders are invited share their start up stories according to a theme
- Friday Scrum Meetings with the cohort to track progress
WHO CAN APPLY
- Have a technology-enabled solution
- Have clear monetization strategies
- Solves a problem for specific target customer
- Have a cross-functional team with deep understanding of the market – which include a technical lead and founder(s) that are fully committed to the business
- Have a defensible position (IP; network effects; domain or region expertise)Have a functional prototype with early traction – Been in operations (since launch date) for at least 6 months
- Are highly scalable (via digital distribution or ability to scale sales)Have potential to address global markets
- Have a defensible position (IP; network effects; domain or region expertise)Offers a unique solution or unique application in a regional setting