By Ron Chen, Correspondent ASEAN Region

Technology sectors such as FinTech, InsureTech, AgriTech, eCommerce, HealthTech, and CleanTech are not only solving some of Africa’s most pressing problems, but also contributing significantly to the continent’s economy. In fact, the so-called Internet economy is set to reach 5.2 per cent of gross domestic product (GDP) by 2025, contributing about US$180-billion to the African economy. To develop the potential of startups driving the Internet economy, Telecel Group has opened applications for the ASIP Accelerator Programme, powered by Startupbootcamp AfriTech. The Programme helps startups achieve 18-24 months of growth in just three months. Now, the next generation of early-stage African tech startups disrupting a wide range of industry sectors are being sought.

Ten startups will be selected to participate in the Programme that will give them access to expert-led masterclasses covering scaling fundamentals – from the business model canvas, and lean methodology, to fundraising. They will also receive tailored mentorship from carefully selected mentors, will be connected with venture capitalists and angel investors from around the world, get to meet the leading corporates in their industries for pilot projects and partnership opportunities.

The successful startups will receive €15,000(US$17,982.75) in cash and have access to over €500,000 in exclusive partner deals from leading technology providers such as Amazon Web Services, Google Cloud, HubSpot, and SendGrid, amongst others.

The three-month Programme will conclude with a digital Demo Day during which startups will present their newly scaled up solutions to hundreds of investors, corporates, mentors and press attendees. Notably, the participants will continue to receive support long after the Programme ends via the Alumni Growth Program which offers access to alumni-only events, deals and tailored introductions.

Twenty-nine startups completed the first Startupbootcamp AfriTech Program and 90 per cent of participating startups are still operating and scaling at impressive rates. What’s more, 40 per cent have raised follow-on rounds of funding, with the average increase in valuation being 10x since their Demo Day.

In addition to corporate partner, Telecel Group, Programme sponsors include Google Cloud Platform, Amazon Web Services, Hubspot, VC4A and Cloudworx. There are a limited number of slots for additional corporate Founding Partners to join the consortium. These partners will have the rare opportunity to help determine the key challenge areas that will be the focus of the Programme’s startup scouting and sit on the exclusive selection committee that will choose the top 10 startups to participate. Additionally, they will have the chance to engage in curated pilot and proof of concept projects with select startups to accelerate innovation within their organisations. Corporates that are interested to amplify their internal Innovation Agenda can email afritech@startupbootcamp.org.

The completely virtual, Pan-African Programme kicks off in July 2021. Applications are open now and will remain so until May 14. To apply, or for more information, go to https://bit.ly/SBC-ASIP