$25,000 Timbuktoo Fintech Startup Accelerator Programme 2024.

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 a clear monetization strategy?

The Timbuktoo Fintech Startup Accelerator Programme is a Pan-African initiative by the Timbuktoo Fintech Hub in Lagos, Nigeria. This programme supports startups that:

• Deploy Technology Solutions in Financial Services: Startups with technology-enabled solutions at their core, utilizing digital tools and platforms to drive innovation and efficiency in the financial sector.
• Contribute to Sustainable Development Goals (SDGs): Startups whose solutions promote growth, industrialization, trade, education, health, and inclusive governance, contributing to one or more SDGs.
• Demonstrate High Scalability: Startups that can rapidly scale their user base across African markets through digital distribution channels.
• Hold a Defensible Position: Startups with a sustainable competitive advantage through Intellectual Property (IP) rights, network effects, domain expertise, or regional market dominance.
• Have a Strong Monetization Strategy: Startups with a clear path to profitability and long-term financial viability.

Benefits

• Mentorship and coaching from Africa’s leading industry experts and seasoned entrepreneurs.
• Equity-free funding of up to $25,000 USD to support startup growth.
• Access to a network of fellow startup founders and entrepreneurs from across Africa.
• A platform to connect with potential investors and customers.
• Access to technical resources tailored to accelerate growth and impact.

Requirements

Applications are open to technology-focused entrepreneurs and startup founders across Africa aged between 18 and 35 who are 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 solve development challenges.
• Startups with a minimum viable product.
• Startups with existing corporate governance systems, accountability, and social and environmental safeguards.

Note: This application is limited to citizens of African Union member states.

Selection Process

Applications will be evaluated by an independent multi-stakeholder committee based on eligibility criteria and alignment with the programme’s mandate. The selection will ensure equal opportunities for participation across countries and gender.

Programme Phases

Bootcamp

An immersive 4-week build-a-thon, including pitching sessions with Africa’s leading investors, masterclasses with fintech experts, and fireside chats with industry executives. This phase supports product development, go-to-market strategies, and market testing. The bootcamp will be conducted in a hybrid format, with continuous virtual support and a 2-week physical residency in Lagos, Nigeria from July 7th – 21st, 2024.

Incubation & Acceleration

The most promising startups from the bootcamp will receive long-term tailored support for 5 months from August 2024 to December 2024. This phase includes coaching, product refinement, and scaling, along with facilitated partnerships to spur product iterations, market access, and capital raising. Selected startups will have the opportunity to receive equity-free funding of up to $25,000 USD.

Programme Timeline

• Applications and Selection Process: May 2024 – June 2024.
• Bootcamp: July 2024 (Attendance in Lagos, Nigeria from July 7th – 21st, 2024).
• Incubation & Acceleration: August 2024 – December 2024.

Method of Application

Interested candidates should click here to apply. Only applicants who have submitted a complete application will be considered for the programme. The application includes questions to assess formal requirements, along with information about your startup and motivation to join the programme. Necessary documents must be submitted and will be used exclusively for application purposes.

For More Information, Visit the Official Webpage