Startupbootcamp, has launched its intense 3-month support accelerator program in Cape Town and is open to diversified financial services startups and related industries from around the world.
The launch of this first Startupbootcamp Cape Town program in Africa comes post a trend analysis that found 161 applications to the global program to have originated from African teams in 2016. Additionally, there were 5 South Africa FastTracks in 2015 and 3 in 2016. To date, Startupbootcamp has invested in 8 teams from Africa in total, 3 of which are in the current InsurTech cohort.
According to Zach George, co-MD of the Cape Town program, “We are thrilled that for the very first time in Africa, a comprehensive integrated program exists to provide corporations across multiple industries the ability to engage directly with innovative technology-focused ventures, establish commercial engagements and explore direct investment opportunities”.
Startupbootcamp has 18 programs across 13 countries and will bring to Africa a mentor network of renowned industry experts and entrepreneurs and major players in banking, insurance, consultancy, leasing, and technology as founding partners. From a pool of hundreds of applications, Startupbootcamp Cape Town will select the 10 most promising teams, and will provide each team with EUR 15,000 100+ highly engaged mentors from the FinTech, InsurTech and RegTech industries, free office space, a convertible note, access to funding and a network of industry partners, investors and venture capital firms.
Before the 3-month program kicks off in September 2017, startups from all over the world are invited to present their ideas to the Startupbootcamp team at a series of ‘FastTrack’ days between May and July 2017. These FastTracks will also be held globally in cities including Accra, Amsterdam, Cairo, Cape Town, programmeDoha, Dubai, Johannesburg, Kampala, Lagos, London, Nairobi, Paris, and Tel Aviv.
“The African tech and digital landscape is growing exponentially, and we firmly believe that the future of innovation will come from Africa,” said Philip Kiracofe, co-MD of Startupbootcamp Cape Tow. “Cape Town is one of the most vibrant and creative hubs on the continent and we are both excited and humbled to contribute by attracting global expertise here.“
BNP Paribas, a Startupbootcamp partner in Cape Town says the launch will boost the cooperation with start-ups and will help in leveraging the potential of the African continent.
Interested startups can apply online for Startupbootcamp CapeTown Accelerator Program.
Applications will remain open until July 14th 2017.