Norway-based Katapult Accelerator has selected startups from three African countries namely Kenya, Egypt, and Tunisia. These startups will join nine others from across the world.
The three startups from Africa include Kenyan cloud-based core banking system FinAccess, Egyptian low-immersion virtual reality science labs PraxiLabs, and Tunisia’s Think.iT, which helps companies build top-performing engineering teams by investing in North Africa’s future technology leaders.
The three-month Katapult programme will see the 12 startups work with the accelerator’s core team and a network of more than 120 international mentors to develop their businesses.
From August to November, each of the 12 startups will partake in a dynamic, hands-on programme to help scale their business and increase their impact. Katapult provides a network of global investors and partnerships that can boost the startups into their next phase of development, specific to their growing needs.
The Katapult Accelerator Fund will invest up to US$150,000 in each startup for an equity stake.
“After reviewing candidates from 107 countries, we were humbled with the interest from companies globally who were keen to join our programme. We had the chance to select our third batch from over 1500 companies and we’re excited to welcome the third cohort on this journey,” said Haakon Brunell, managing partner and co-founder of Katapult Accelerator.
“We provide the startups, whose focus is to drive global positive change with the use of exponential technologies, an environment of opportunities and an ecosystem to enhance their business model and scale. Our goal for each company is to prepare them for their next investment round so that they achieve two to three times their original valuation, a track record we aim to keep.”
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