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 Program 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 their core, utilizing 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, industrialization, 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 user base 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 – ensure sustainable competitive advantage in the fintech landscape.
Have a strong monetization strategy: Startups with a clear and sustainable monetization strategy, showcasing a path to profitability and long-term financial viability.
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 capitalize on complex development opportunities and solve challenges.
Startups with a minimum viable product.
Startups with existing corporate governance systems, accountability, and social and environmental safeguards.
Benefits
The program 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.
