Initially, around 170 tech companies registered for the AlphaCode incubation program, which aims to foster creative tech-enabled startups.
Only eight companies were chosen to take part in the initial three-month program, which included financing, assistance from performance coaches and a panel of advisory specialists, access to AlphaCode’s co-working space, and options to apply for additional early-stage funding.
Last week, those eight startups competed in a digital demo day, where they had only 10 minutes to persuade a panel of judges that they should advance to the next stage of the program.
Five people were chosen to get a grant of ZAR500,000 (US$32,000), six months of mentorship, and professional implementation support.
These startups will also be eligible to apply for seed funding from AlphaCode’s fund.
Here are the 5 African startups
Abela
Abela the app is a mobile payments firm that is creating an ecosystem to allow people to transfer, receive, utilize, and save money digitally, giving them access to the most fundamental financial services.
Its platform is low-cost and simple to use, giving users the financial independence and security they deserve. Abela has put in a lot of effort with a variety of partners to create a robust ecosystem that allows clients to use its platform intuitively.
BriefCo
BriefCo is South Africa’s first and only legal cost consultant that uses technology to help with the bill of costs and opposition preparation.
The startup uses its own safe cloud platform to deliver and store all documents required for the creation of bills of costs and oppositions in a digital format.
BriefCo’s platform greatly reduces the costs of printing, copies, file preparation, and delivery for clients.
Sizanani
Sizanani is Africa’s largest transportation and logistics management system and trading zone, with over 1000 registered transport and logistics companies managed on a daily basis.
The Sizanani system manages the logistics of about 450 000 tonnes of freight and 1 million parcels every month on average.
Sizanani focuses on certain market niches and has formed strategic connections with third-party contractors and 4PL management firms.
It has also invested in the acquisition of the ADMS distribution management system, which was developed by AIMS (a 100% Altron-owned subsidiary), to enable Sizanani to deliver courier-based, multi-parcel management services.
Vocalysd
Vocalysd is a conversational AI platform that enables businesses to communicate with customers in more meaningful, quantified, and relevant ways. The company creates transcripts of customers’ multichannel, conversational data and provides them with high-value, intelligent, and actionable insights.
Welo
Welo is a health-tech firm that offers services to both individuals and businesses. Health convenience is delivered to the user’s home.
The company is situated in South Africa and is a pioneer in the field of health technology. Its mission is to deliver at-home health services to South Africans, Africans as a whole, and rising countries in general. Technology is being used to advance health care.
What was surprising about this cohort, according to Amina Patterson, head of operations at AlphaCode, is that there are seven female founders across the eight startups, several of whom have operated successful businesses prior to these startups, which we know leads to more successful entrepreneurs.
Women are disproportionately underrepresented in the startup ecosystem around the world. Representation is important, and they have an inclusive and diverse cohort thanks to a diverse AlphaCode team and selection panel.
Female founders are eager to participate in and contribute to the startup community, and it helps if they are given platforms where they can be properly heard, acknowledged, and appreciated.
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