Three African startups have been chosen to join the Katapult Accelerator, a three-month program that offers access to a global network of mentors, dedicated expertise in technologies such as the blockchain and AI, and access to capital and investors.
The three startups include Kenya’s FinAccess, Tunisia’s Think.iT, and Egypt’s PraxiLabs.
FinAccess is a cloud-based “banking software for microfinance organisations.”
Think.iT invests in software engineers by connecting brilliance with opportunity.
PraxiLabs offers virtual science labs to organisations such as schools.
According to Haakon Brunell, co-founder and managing partner, of Katapult Accelerator:
“After reviewing candidates from 107 countries, we were humbled with the interest from companies globally who were keen to join our program. We had the chance to select our third batch from over 1,500 companies and we are excited to welcome the third cohort on this journey.”
The Katapult Accelerator
The Katapult Accelerator will take up 12 startups for three months where they will be involved in an intense program that will help them scale their businesses.
The Accelerator is focused on a wide range of domains such as blockchain technology, artificial intelligence, clean energy, education, financial inclusion, internet of things, and smart cities.
“We are fueled and inspired by our belief in exponential technology. We believe these technologies such as AI and the blockchain can help impact focused start-up scale faster while solving real global problems,” the Accelerator writes on its site.
“We provide the startups, whose focus is to drive global positive change with the use of exponential technologies, an environment of opportunities and an ecosystem to enhance their business model and scale. Our goal for each company is to prepare them for their next investment round so that they achieve two to three times their original valuation, a track record we aim to keep,” Brunell explains.
According to Disrupt Africa, the katapult Accelerator Fund invests as much as $150,000 per startup for an equity stake.
