Deadline: June 20, 2024
Are you a technology-driven startup, passionate about leveraging innovations in the financial services sector to solve Africa’s most complex development challenges? Do you have a scalable solution with a defensible position and clear monetization strategy? Apply for the UNDP timbuktoo Fintech Startup Accelerator Programme 2024.
The timbuktoo Fintech Startup Accelerator Programme is a Pan-African initiative of the timbuktoo Fintech Hub in Lagos, Nigeria supporting startups that:
- Are deploying technology solutions in the financial services sector: These are startups that have a technology-enabled solution at its core, utilising digital tools and platforms to drive innovation and efficiency in the financial sector.
- Are contributing towards the achievement of sustainable development goals (SDGs): Startups whose solutions contribute towards one or more of the SDGs, by promoting growth, industrialisation, trade, education, health, and inclusive governance among others.
- Are highly scalable: Startups that demonstrate high scalability either through digital distribution channels or the ability to scale their userbase rapidly across markets in Africa.
- Hold a defensible position: Startups that have a defensible position, whether through Intellectual Property (IP) rights, network effects, domain expertise, or regional market dominance – ensuring sustainable competitive advantage in the fintech landscape.
- Have a strong monetisation strategy: Startups with a clear and sustainable monetisation strategy, showcasing a path to profitability and long-term financial viability.
Benefits
The programme will offer Startup founders:
- Mentorship and coaching from Africa’s leading industry experts and seasoned entrepreneurs.
- Equity-free funding of up to $25,000 USD to support the startups growth.
- Access to a network of fellow startup founders and entrepreneurs from across the African continent.
- A platform to connect with and access potential investors as well as customers.
- Access to technical resources, tailored to accelerate the growth and impact of the startup.
Eligibility
Applications are open to technology-focused entrepreneurs and startup founders across Africa aged between 18 and 35, who can build, or are already building, fintech startups that meet the following criteria:
- Startups with founders who are citizens of an African country.
- Startups must be locally owned and based in any African country.
- Startups leveraging technology in the financial services sector to capitalise on complex development opportunities and solve challenges.
- Startups with a minimum viable product.
- Startups with existing corporate governance systems, accountability, social and environmental safeguards.
Application
Only applicants who have submitted a complete application will be considered for the programme. The application consists of questions to access formal requirements along with information about your startup and motivation to join the programme. You will be required to submit necessary documents which will be used exclusively for purposes of the application.
For more information, visit UNDP.
