DFS Lab, an early-stage investor that helps founders build solid foundations and matches the world’s smartest capital with Africa’s most promising founders leading the next generation of digital commerce in Africa, in collaboration with the Stellar Development Foundation (SDF), has opened a call for applications for a Blockchain Bootcamp, which will provide early to mid-stage African startups with the opportunity to build on Stellar, an open-source blockchain network for financial services and products.
“We’re thrilled to collaborate with DFS Lab to support early-stage startups building the future of digital commerce in Africa. It’s part of SDF’s effort to increase financial access and inclusion specifically with solutions rooted in local needs and expertise. It’s an honor to be a resource for bootcamp companies building on Stellar. We can’t wait to see how they innovate,” said Denelle Dixon, CEO and Executive Director of Stellar Development Foundation.
Here Is What You Need To Know
- The bootcamp is a three-day design sprint where participants can get hands-on technical help and mentoring from DFS Lab and SDF while answering crucial business concerns. Companies will identify an issue, build a storyboard for a solution, and create a quick prototype of their innovation. This is a fantastic opportunity to support African developers and companies with blockchain-related ideas, give them with useful tools and information, and help them develop viable solutions that meet local requirements.
- Prizes ranging from 5,000 to 20,000 USD Coin will be awarded to the most promising solutions. There will be opportunities for additional grant funding, including possible investment from SDF’s Enterprise Fund and other investors present at the demo day. Fintech, blockchain, and crypto-curious businesses operating in Africa who want to improve existing services or integrate digital asset solutions into their business models for the first time are encouraged to submit by August 20, 2021.
“We are excited to see what role blockchain can play in the future of digital commerce in Africa from cross-border payments to financial inclusion, and we’re excited to offer this opportunity for startups to see where the Stellar blockchain network can benefit them,” said Jake Kendall, Partner at DFS Lab.
Read also:How Three African Blockchain Startups Secured UNICEF Grant
- Cross-border payments, access to financial services, and payment processing are all viable use cases that could be investigated. Companies could also experiment with new models across asset management, compliance, NFTs, gaming, charity donations, trade finance, liquidity, and more.
- Franklin Templeton, Samsung, Leaf Global Fintech, Airtm, and Tribal are among the organizations that have already implemented Stellar-based solutions. The Stellar network’s speed and size will open up new options for bootcamp participants and their end customers to transfer wealth swiftly and easily, no matter where they are in the world. Stellar’s footprint is expanding across Africa, especially in East and South Africa. Applicants from around the continent who are shaping the future of digital banking are urged to apply.
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How To Apply
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write