Applications open for the UNDP Timbuktoo Fintech Startup Accelerator Programme

Applications for the 2024 UNDP Timbuktoo Fintech Startup Accelerator Programme are now available. The Timbuktoo Fintech Startup Accelerator Programme, based in Lagos, Nigeria, is a Pan-African initiative supporting startups that meet specific criteria:

1. Utilize technology solutions in the financial services sector.
2. Contribute to achieving sustainable development goals (SDGs).
3. Demonstrate high scalability.
4. Have a defensible position in the market.
5. Possess a strong monetization strategy.

To be eligible, technology-focused entrepreneurs and startup founders across Africa aged 18-35 must meet the following criteria:

1. Founders must be citizens of an African country.
2. Startups must be locally owned and based in any African country.
3. Utilize technology in the financial services sector to address development opportunities.
4. Have a minimum viable product.
5. Implement corporate governance systems, accountability, and social/environmental safeguards.

This application is exclusively available to individuals who are citizens of the member states of the African Union.

Advantages: UNDP Timbuktoo Fintech Startup Accelerator Programme

The program will provide startup founders with the following benefits:

1. Mentorship and guidance from Africa’s top industry experts and experienced entrepreneurs.
2. Funding of up to $25,000 USD without any equity requirements to support the growth of the startups.
3. Access to a network of fellow startup founders and entrepreneurs from all across the African continent.
4. A platform to connect with potential investors and customers.

Bootcamp: UNDP Timbuktoo Fintech Startup Accelerator Programme

1. A comprehensive 4-week build-a-thon will be conducted, which will include pitching sessions with leading investors in Africa, masterclasses with fintech experts, and fireside chats with industry executives.
2. This bootcamp will assist in the development of products, go-to-market strategies, and market testing for the startups.
3. The bootcamp will be conducted in a hybrid format, providing continuous virtual support, along with a 2-week physical residency in Lagos, Nigeria from July 7th to 21st, 2024.

Incubation & Acceleration: UNDP Timbuktoo Fintech Startup Accelerator Programme

1. The most promising startups from the bootcamp will receive tailored support for a period of 5 months, starting from August 2024 to December 2024.
2. This support will include coaching, product refinement, and scaling for the startups.
3. Additionally, partnerships will be facilitated to encourage product iterations, market access, and capital raising for the startups.
4. Startups selected for incubation and acceleration will also have the opportunity to receive equity-free funding of up to $25,000 USD.

Application Timeline: UNDP Timbuktoo Fintech Startup Accelerator Programme

– 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.

Application Process: UNDP Timbuktoo Fintech Startup Accelerator Programme

1. The application period for the programme will run from May 31st, 2024, to June 21st, 2024.
2. Only applicants who have submitted a complete application will be considered. The application includes questions to assess formal requirements, as well as information about your startup and your motivation to join the programme.
3. Additionally, you will need to provide necessary documents, which will be used solely for the purpose of the application.
4. For details visit the Official Webpage of the UNDP Timbuktoo Fintech Startup Accelerator Programme.