Applications for the Timbuktoo Fintech Startup Accelerator Programme in Lagos, Nigeria. is still ongoing for technology-driven startups that are passionate about leveraging innovations in the financial services sector to solve Africa’s most complex development challenges.
The programme is open to technology-focused entrepreneurs and startup founders across Africa aged between 18 and 35, who can build, or are already building, fintech startups whose founders are Africans citizens, are locally owned and based in any African country, among other criteria.
The application portal, which opened on May 31st, will close on June 21, 2024.
According to the UNDP, 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, contributing towards the achievement of sustainable development goals (SDGs), and are highly scalable either through digital distribution channels or the ability to scale their userbase rapidly across markets in Africa.
Also, the programme will support startups that have a defensible position, whether through Intellectual Property (IP) rights, network effects, domain expertise, or regional market dominance; as well as those with a clear and sustainable monetisation strategy, showcasing a path to profitability and long-term financial viability.
Announcing the launch of the Programme recently, Nigeria’s former Vice President Prof. Yemi Osinbajo, stated that successful applicants of the programme will be able to access the hub’s state-of-the-art equipment and services including experts in residence, a product design lab and a dedicated co-working space.
“You’ll also be able to interact with Africa’s most respected FinTech entrepreneurs, mentors and coaches. Your startup will also be eligible for seed financing to refine and grow the business and also you’ll have an opportunity for market access across the Continent.
“You’ll also be able to interact with Africa’s most respected FinTech entrepreneurs, mentors and coaches. Your startup will also be eligible for seed financing to refine and grow the business and also you’ll have an opportunity for market access across the Continent.”
Osinbajo further stated that “while the Fintech Hub in Lagos is a physical space, the hub’s offerings will also be available virtually.
“To apply, the link is displayed on the screen and that will take you to the Timbuktoo FinTech Hub Call Page which has details of the eligibility criteria and a fuller description of the programme and answers to some of your anticipated questions.”
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 startups growth; and access to a network of fellow startup founders and entrepreneurs from across the African continent, among others.
Prospective applicants can access the application portal here.