UNDP timbuktoo Fintech Startup Accelerator Programme

This informs the public about the UNDP Timbuktoo Fintech Startup Accelerator Programme. Details about the Program are given below.

UNDP Timbuktoo Fintech Startup Accelerator Programme

Program Details

Applications are now open for the 2024 UNDP Timbuktoo Fintech Startup Accelerator Programme.

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, utilising 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, industrialisation, 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 monetisation strategy: Startups with a clear and sustainable monetisation strategy, showcasing a path to profitability and long-term financial viability.

Benefits

The programme 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 startup’s 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.

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 were leveraging technology in the financial services sector to capitalise 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.

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

How to Apply

For those interested in the UNDP timbuktoo Fintech Startup Accelerator Programme . Open this link to start the application process.
  • The application portal will be open from May 31st, 2024, to the 21st of June 2024.
  • Only applicants who have submitted a complete application will be considered for the programme. The application consists of questions to access formal requirements along with information about your startup and motivation to join the programme. You will be required to submit necessary documents which will be used exclusively for purposes of the application.

Application Deadline

  • The deadline for receipt of applications is Unspecified.

Open this link for more details about the UNDP Timbuktoo Fintech Startup Accelerator Programme.

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