Africa Fintech Foundry (AFF) is an Access Bank initiative that aims to nurture, fund, and accelerate the growth of Fintech startups in Africa.
This is done 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:
Design
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.
Build
This phase focuses on refining your product, planning your finance, and implementing a go-to-market strategy. We will offer you a network of customers to arrange partnerships and sales opportunities.
Pitch
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.
Who can apply For Africa Fintech Foundry?
We are looking for Startups that:
- 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
Benefits:
- Curriculum: Wide variety of experts focused on marketing, startup accounting, product design, mobile, user testing, sales and more
- Fun: You will work hard but have fun in the process.
- Pitch: You’ll see your startup grow at an amazing pace, doing more in 3 months than you’ll probably do in 2 years
- Mentorship: Access to mentorship and clinic hours from leading entrepreneurs, investors and industry experts
- Community: Working with other people going through the same challenge makes a huge difference
- Post-program Support: Ongoing mentorship, formal & informal referrals, access to funding, networking opportunities etc.
- Funding: We provide growth funding by connecting you to our funding partners at various stages of the program
What the program offers:
- Access to market across Access bank’s customers and subsidiaries.
- 12 weeks of formal and informal mentorship from established founders, Access bank leaders, investors and pioneers in various industries.
- Strategic introductions to industry-specific investors.
- Access to our workspace and developer community.
- $25,000 worth of services per start-up (Mentorship, Valuation, Marketing and PR spend, Workspace).
- Better pricing for payment capabilities (Account debit, Card transactions and payment via link).
- Discounted cloud services/hardware and software subscriptions from our tech partners.
Click here to register as registration closes on 31st January.
