Call For Applications: UNDP timbuktoo Fintech Startup Accelerator Program 2024 (up to $25,000)
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.
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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.
Deadline: June 20, 2024