Flapmax, a leading artificial intelligence (AI) company, has announced the launch of the second FAST Accelerator program. This program aims to support and fund innovative startups and entrepreneurs across Africa. Following the success of the inaugural program, FAST Accelerator 2023 offers an opportunity for startup founders to rapidly scale and sustain their businesses. Over 800 startups from more than 25 countries applied to join the inaugural program.
Program Overview:
In partnership with Microsoft, the FAST Accelerator initiative combines business development, technology integration, funding opportunities, and community building to empower startup companies based in Africa and emerging markets. It provides dedicated venture funding and mentorship opportunities. The top ten startups selected for the FAST Accelerator 2023 program will have the chance to participate in a five-week program in Silicon Valley, California. This program offers networking opportunities with industry experts, potential investors, and global partners within Flapmax’s extensive ecosystem of over 600 corporate partners.
Organizers and Experience:
Flapmax, a leading AI company, is the driving force behind the FAST Accelerator program. They have a strong commitment to supporting ambitious entrepreneurs who are fostering sustainable innovation across Africa and emerging markets. The program is not the first of its kind, as it builds upon the success of the previous program. Flapmax’s CEO, Dr. Dave Ojika, emphasizes the goal of connecting startup founders with a global community, industry-leading technology, and the necessary funding to create local, sustainable, and AI-powered technological solutions.
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Program Benefits:
The FAST Accelerator program offers participating startups a transformative experience. It provides access to business development support, technology integration, funding opportunities, and a vibrant community. Startups can benefit from dedicated venture funding and invaluable mentorship. Additionally, the program offers a chance to participate in a five-week accelerator program in Silicon Valley, providing acceleration, networking, and fundraising opportunities.
Eligibility Criteria:
To be eligible for the FAST Accelerator program, startups must meet the following criteria:
- Be based in Africa.
- Demonstrate a readiness to scale or expand throughout the continent.
- Have established product-market fit and revenue generation. The program prioritizes business-to-business startups, with a particular interest in healthcare, fintech, Edutech, and industrials/agtech. Sustainability and deeptech startups are also encouraged to apply.
Application Process and Deadline:
Startup leaders interested in the FAST Accelerator program can apply during the month of July. Details on the application process can be found on the Flapmax website (https://Flapmax.com/). The deadline for applications will be announced on the website.
Additional Information:
- The program includes a two-week virtual bootcamp in August 2023, followed by a five-week accelerator program in October in Silicon Valley, California.
- The virtual bootcamp is designed to validate startup ideas, refine business models, and prepare founders for the next stage of growth.
- Testimonials from previous program participants highlight the benefits they gained, such as exceptional technology and business masterclasses, access to a valuable network of mentors and advisors, successful fundraising, and the opportunity to scale their innovative solutions across Africa.
- Specific examples of startups that have benefited from the program include Pade, a HR technology company; Snark Health, a healthcare payment solutions provider; and KaCyber Technologies, focused on sustainability in the public transport sector.
- The program aims to create a lasting impact on various sectors, including healthcare, sustainability, and mobility, through the power of technology and innovation.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard