The twelve firms chosen for the second batch of the FAST Accelerator program have been revealed by Flapmax, a well-known data and AI technology company.
This project, created in partnership with Microsoft, aims to strengthen and develop Africa’s digital ecosystem.
These 12 firms will move on to a thorough 5-week acceleration program in Silicon Valley, California, beginning in October, following an intensive 2-week Online Bootcamp with over 60 tech companies and experienced mentors.
Microsoft’s Support for African Entrepreneurs
Microsoft is aware of the potential of small and medium-sized businesses (SMEs) and startups in Africa to support the continent’s digital economy and tackle regional issues. SME Program Manager Mame-Fatou Gueye of the Microsoft Africa Transformation Office underlines the program’s contribution to assisting business owners to seize growth opportunities and increase their market presence.
Huge Response and a Variety of Applicants
Over 1200 applications from 35 African nations were submitted for the FAST Accelerator program, covering a range of business sectors like financial services, healthcare, agriculture, transportation & logistics, clean technology & energy, and creative media & entertainment. These candidates provided a diverse range of cloud-based goods and services, utilizing AI to spur creativity and efficiency while tackling pressing problems.
The objective of Flapmax, founded and led by Dr. Dave Ojika, is to use AI to create significant solutions that will alter a variety of industries. They are able to develop chances for start-ups, SMEs, and multinational corporations because to their collaboration with technology behemoths like Microsoft and Intel. By employing AI as a catalyst, the objective is to support sustainable growth, empower entrepreneurs, and provide job possibilities.
Meet the FA23 Cohort of Startups
A variety of businesses tackling various industries and UN Sustainable Development Goals are included in the FA23 cohort:
- Zeeh Africa (FinTech): An AI-powered open banking platform connecting businesses to financial data.
- Sumundi (eCommerce): An intelligent eCommerce platform for Africa’s retail businesses.
- Cotrust Equity (FinTech): Dubbed the “Uber for micro-lending in Africa.”
- Trucki (Supply Chain): An AI-powered haulage infrastructure connecting cargo stakeholders.
- Orange VFX (Creative Media): Delivering high-quality animation and visual effects for African businesses.
- 10mg Pharma (HealthTech): AI-driven cost savings on medications for chronic pain patients.
- Wallx (FinTech): A payment and business solution for small business owners.
- Moosbu (FinTech): Empowering SMEs with AI for sales and financing.
- KCG Aquatec Fish Farming (AgTech): Aquaculture infrastructure aiding sustainable fish farming.
- Aibanc (FinTech): AI-powered banking for High Earners Not Rich Yet (HENRY).
- Zendawa Africa (HealthTech): Enabling neighborhood pharmacies to sell online.
- Greenbii (FinTech): An AI-driven asset financing and software management platform for SMEs.
Developing African Innovation
The FA23 cohort will begin participating in a complete program on October 23 that includes training, AI integration, company growth, fundraising, and a variety of activities. Along with assistance from sales and marketing, co-innovation projects with Intel and Microsoft will be crucial. Additionally, the Flapmax engineering team will help with platform optimization for Large Language AI models (LLMs) on Microsoft Azure and Intel.
Comments from Former Participants
Previous Online Bootcamp participants shared their enthusiasm as follows:
- HealthX Africa: “It is inspiring to learn what is happening in the AI and tech space across sectors and to interact with cohort members and speakers who are experts in their fields.”
- Dataleum: “This [will] provide us with mentorship, networking, and fundraising opportunities with global startups. This is a huge one for us, and we are more than excited to embark on this adventure!”
- Ricard Oboh, Co-Founder and Creative Director of Orange VFX Studios: “It was such a great privilege participating in the FAST Accelerator program! Thank you for the phenomenal classes and the opportunity to build new cross-national networks with other amazing entrepreneurs creating global solutions to local problems with one single aim to make the world a better place for everyone!”
Welcome to FAST Portal
Additionally, Flapmax has unveiled FAST Portal, a virtual tool for matching investors and companies. Within the FAST Accelerator community, this portal will encourage introductions between investors, partners, and companies. Organizations and corporate partners are invited to join Flapmax in its aim to support innovators and entrepreneurs in underserved markets all over the world.
The FAST Accelerator is still essential to developing Africa’s innovation ecosystem and advancing budding businesses to success on a global scale.