Flapmax, a leading artificial intelligence (AI) company with a mission to drive innovation and enrich lives globally, has announced the launch of its second FAST Accelerator program in partnership with Microsoft. The initiative aims to provide support and funding to the next generation of innovative companies and entrepreneurs across the African continent.
Following the success of its inaugural program, FAST Accelerator 2023 offers a transformative experience for startup founders seeking sustainable and rapid scaling.
Over 800 startups from more than 25 countries applied to join the inaugural program, highlighting the high demand and enthusiasm for such initiatives. The program, in collaboration with Microsoft, combines business development, technology integration, funding opportunities, and community building to empower African and emerging market startups in delivering sustainable solutions. Moreover, it offers dedicated venture funding and invaluable mentorship opportunities to the participants.
Dr. Dave Ojika, CEO of Flapmax, expressed the company’s commitment to supporting ambitious entrepreneurs and sustainable innovation across Africa and emerging markets through the FAST Accelerator program.
“FAST Accelerator represents our commitment to supporting ambitious entrepreneurs who are driving sustainable innovation across the continent of Africa and emerging markets,” he said. “Through this comprehensive program, we are dedicated to connecting startup founders with a global community, industry-leading technology, and the essential startup funding necessary to forge the path towards local, sustainable, and AI-powered technological solutions of the future. Together, we unite in building a brighter future for Africa and the world, fueled by the transformative power of technology and innovation.“
Read also: Propel secures €2.5 Million in seed funding to power the open talent economy
The FAST Accelerator 2023 program will select ten startup participants for a five-week program in Silicon Valley, California. This opportunity will allow the founders to establish relationships with industry experts, potential investors, and global partners within Flapmax’s extensive ecosystem, which includes over 600 corporate partners.
Startup leaders based in Africa are encouraged to apply to the FAST Accelerator program in July. Eligible startups must have a presence in Africa, a readiness to scale or expand throughout the continent, and a proven product-market fit with revenue generation. The program is prioritizing business-to-business startups, with a particular interest in the healthcare, fintech, Edutech, and industrials/agtech sectors. Sustainability and deeptech startups are also encouraged to apply.
The program consists of a two-week virtual bootcamp in August 2023, followed by a five-week accelerator program in October in Silicon Valley. The virtual bootcamp aims to validate startup ideas, refine business models, and prepare founders for the next stage of growth. The top startups from the bootcamp will then join the accelerator program, providing them with unparalleled acceleration, networking, and fundraising opportunities, while immersing themselves in the vibrant startup ecosystem of Silicon Valley.
Read also: MarkHack 2.0: 5 finalists to receive $50,000 seed capital after 3-month incubation
Process for Fast Accelerator 2023:
Application: Startups apply to join the FAST Accelerator program, meeting criteria such as product-market fit, revenue generation, and readiness to scale.
Selection: Top ten startups are chosen based on rigorous evaluation of criteria like business viability, market potential, and scalability.
Virtual Bootcamp: Selected startups participate in a two-week virtual bootcamp in August, focusing on validating ideas and refining business models.
Silicon Valley Accelerator: Top-performing startups from the bootcamp join a five-week program in Silicon Valley, connecting with experts, investors, and partners.
Business Development and Tech Integration: Startups receive mentorship, resources, and support for business development and technology integration.
Funding: The program provides dedicated venture funding to support startup growth and scalability.
Community Building: The program fosters a strong startup community, promoting collaboration, knowledge sharing, and networking.
Several participants from the previous FAST Accelerator program have shared their positive experiences and the impact it had on their ventures. Lekan Omotosho, co-founder and CTO of Pade, a HR technology company, expressed delight in participating in the transformative program. Through Flapmax Learn’s technology and business masterclasses, as well as the network of mentors and advisors, Pade was able to secure $500,000 in funding, positioning them to scale their cutting-edge human capital management solutions across Africa.
Lekan Omotosho, the co-founder and CTO of Pade, a HR technology company, expressed that the technology and business masterclasses provided by Flapmax Learn were exceptional.
“As a HR technology company dedicated to building world-class software solutions for businesses, we are delighted to have participated in the transformative FAST Accelerator program in 2022,” Lekan said. “The technology and business masterclasses offered through Flapmax Learn were truly exceptional, and the invaluable network of mentors and advisors has played a significant role in our growth. With the successful raise of $500,000, we are poised to scale our cutting-edge HCM solutions across the continent, catering to both SMEs and large corporations.”
With the launch of the second cohort of the FAST Accelerator program, Flapmax and Microsoft are cultivating a thriving ecosystem for African startups, providing support for their growth, and contributing to the realization of innovative and sustainable solutions across the continent. The program offers African entrepreneurs a valuable opportunity to access resources, mentorship, and funding that are crucial for advancing their businesses and making a lasting impact in their respective industries.
About Microsoft FAST Accelerator:
A global Flapmax initiative created in partnership with Microsoft, FAST Accelerator connects international entrepreneurs and startups with business development, technology integration, funding, and community building opportunities designed to enable rapid and sustainable growth. Program graduates have raised millions in startup funding, created thousands of new jobs in their communities, and are using technology to meet global economic and sustainable development goals in the areas of healthcare, agriculture, supply chain and climate justice.
Technext Newsletter
Get the best of Africa’s daily tech to your inbox – first thing every morning.
Join the community now!
