Africa Fintech Foundry has opened up registration portal for the 2021 ‘Accelerator’ programme to provide tech entrepreneurs with business initiatives.
The initiative, being executed in partnership with Access Bank Plc, seeks to fast-track the growth of best start-ups operating within the African technology ecosystem.
Speaking at the launch of the initiative, Head of the Africa Fintech Foundry, Daniel Awe, said, “Research has shown that 90 per cent of start-ups fail due to various reasons such as lack of funding, being in the wrong market, a lack of research, mis-aligned partnerships, ineffective marketing and poor competitive positioning to name a few. Ninety per cent is a high percentage rate of failure. This indicates that many things need to go right for a business to succeed. Enabling start-ups to grow, scale and remain relevant in the tech space is where we play a major role as AFF.
“Since its establishment, the Africa Fintech Foundry has progressively demonstrated leadership in the areas of innovation, financial technology and entrepreneurship. We recognise the vast array of talent possessed by Africans and the wider global players and the immense potential that our technological start-ups have.”
Awe stressed that through the programme cohorts would be provided with mentorship and clinic hours from leading entrepreneurs, investors and industry experts. They will also get access to funding, business insights, access to markets and networking opportunities with “our partners” at various stages of the programme.
According to AFF, the programme will be a 12-week training.
Commenting, Access Bank’s Executive Director for Information Technology and Operations, Ade Bajomo, said, “Technology can serve as the catalyst for solving many of the problems faced across various industries. We also believe that it holds the potential to resolve social and economic challenges faced across the African continent.