The 12-week FAST Accelerator program, which starts next week, brings together entrepreneurs from six nations and nine industries, which were chosen from over 800 submissions from 25 countries.
Applicants for the FAST accelerator program had to be based in Africa, ready to develop or expand inside the continent, and have a proven product-market fit that addressed one or more Sustainable Development Goals (SDG).
Capsa Technology, an online platform for businesses to buy and sell invoices; LegitCar, which is building Africa’s largest vehicle data service; DayDone, an e-commerce platform digitizing Africa’s agriculture market, Pade HCM, an automated HR platform for all African businesses are all based in Nigeria.
Four more companies are from Kenya: e-health startup Snark Health, prop-tech platform Silqu, data-driven food supply chain platform Taimba, and educational app K-12 EdTech, with Egyptian agri-tech startup VAIS, Ghanaian e-health startup Wala Digital Health, Tanzanian e-health service Tumaini La Maisha and Ugandan mobility company KaCyber Technologies rounding out the group.
The FAST accelerator cohort will participate in a variety of activities to help them scale quickly and effectively, including training, company development, cloud and AI integration, fundraising, and community-building events.
Participants will work one-on-one with Microsoft engineering team members on co-innovation tasks concerning product integrations and new offerings.
The Flapmax engineering team will assist the startup owners in gaining access to new technology tools and services.
Participants will also get access to Microsoft 365, they also get up to $250,000 in Microsoft Azure cloud credits, as well as access to Dynamics 365, and the Microsoft for Startups Founders Hub, which includes OpenAI API access.
“Microsoft believes that African startups are ideally positioned to become a core of the African digital economy, providing appropriate answers to local social concerns,” says the company.
“Participation in the FAST startup accelerator program will enable these companies to take advantage of existing financial options and prepare for future market expansion,” explained Gerald Maithya, Microsoft Africa Transformation Office’s startup lead.
Here are the African startups selected for the FAST accelerator program:
Capsa is tackling this long-standing issue with an innovative digital invoice finance marketplace that reduces the risk of lending to SMEs by leveraging the credit profiles of the large corporations to which these small firms sell goods and services.
This method eliminates all of the barriers that are currently present in standard invoice financing solutions.
Capsa was created to give African small enterprises access to affordable funding. Due to their perceived high risk, these businesses have typically had limited access to development and working capital, as well as exploitative rates from lenders.
LegitCar uses big data to tackle the issues of car theft in Nigeria by providing a theft-status verification platform for used car buyers to confirm that they are not squandering money on stolen vehicles that would get them in legal trouble.
This is especially crucial because around 70% of stolen vehicles wind up with unwitting auto buyers; as a result, the platform intercepts stolen vehicles at the point of resale, acting as an effective vehicle theft-deterrent and making our communities and country safer.
To make this possible, the platform needs a good database of missing automobiles throughout the country and has gotten data from a variety of sources so far, including insurance companies, vehicle tracking and recovery organizations, and law enforcement.
This is the first step in digitizing Africa’s used automobile industry; the platform will also assist businesses and law enforcement.
DayDone is an Agtech startup dedicated to improving agriculture through digitization, one farm at a time. Statement of Purpose With the use of technology, expand the economics and distribution of agriculture in Africa.
Statement of Purpose – Using e-commerce to simplify the distribution system for bringing produce and farm aids to the market and farmers, respectively.
To promote local farm products, as well as their marketing, packaging, processing, and delivery, through continuous education and training. – To boost the supply of agriculture aids by promoting production and leveraging the Internet by localities. – Collect and distribute market and production data to farmers and consumers, respectively.
SILQU claims to be Africa’s most innovative PropTech platform focusing on REAL ESTATE, with the goal of bridging the gap between real estate needs and tech.
Tenant screening, property listings, background and credit checks, vendor management, debt recovery, and more are all available. SILQU is a platform that unifies the way people manage their rental properties.
Snark Health is the future generation of health care, centered on patient-doctor interaction. They assist patients in gaining better access to healthcare and lowering their healthcare costs.
Snark Health also assists doctors in increasing their earnings. They accomplish this through their Hippocratic Coin alternative payment method, which uses liquidity pools, blockchain technology, and a trusted payment network to provide “data as a common resource” without any need for governmental or commercial healthcare insurance.
Taimba is a cashless, mobile-based B2B platform that links farmers with retailers. Taimba has been collaborating with smallholder farmers in remote areas to guarantee that they have access to market consistency and fair prices by reducing the agriculture supply chain. We unite farmers into farm organizations (co-ops) and provide them with resources to help them increase productivity.
VAIS is a deep-tech firm that creates patented AI/deep learning techniques and algorithms and systems for use in multispectral Earth Observation (EO) data analytics and agricultural technology (AgriTech).
VAIS AgriTech products enable smart farming techniques and provide farmers, merchants, and insurers with reliable field analytics.
Through a particularly scalable cloud-based architecture and clever data assimilation algorithms, VAIS EO analytics makes it easier to organize and analyze multispectral satellite imagery.
VAIS technologies are effortlessly incorporated into existing corporate systems to give unique features and competitive solutions to our clients.
The company is a Nile University spinoff, and its technical staff has been among the best in the region, having a strong academic and industrial track record.
To combat the catastrophic consequences of blood shortages, Wala Digital Health uses the power of social networks to boost the supply of blood products and novel digital services for processing, distribution, and delivery.
They want to create the foremost digital platform that uses powerful artificial intelligence to save lives in resource-constrained developing countries by resolving supply chain inefficiencies.
Wala Digital Health not only meets a crucial need but also offers a ground-breaking technological solution that will transform the blood supply culture.
KaCyber Security Technologies Ltd (“KaCyber Technologies”) is an Internet firm that was established in 2016 and has its headquarters in Kampala, Uganda, the Pearl of Africa.
KaCyber is only 1% complete as an emerging Digital corporation. We aspire to create a connection between people and the brands they love through our commitment to customer-centric programs focusing on cutting-edge technologies and strategic alliances with some of the most fascinating companies.
Tumaini La Maisha, which translates to “hope for life,” is the name of the parent organization, which is situated in Tanzania and serves the Tanzanian people.
It is a non-profit organization that helps children living with cancer. Their sibling NGOs, Their Lives Matter Ireland and Their Lives Matter UK, are registered separately and support their fundraising and advocacy efforts.
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