Apply for Timbuktoo’s Fintech Startup Accelerator Programme

June 14, 2024

Apply for Timbuktoo's Fintech Startup Accelerator Programme

Earlier this year, His Excellency Yemi Osinbajo, former Vice President of Nigeria, met Rwanda’s President, His Excellency Paul Kagame of Rwanda to mark another progressive step for an initiative of $1 billion funding for entrepreneurs in Africa, the Timbuktoo Africa Innovation Foundation, which is an initiative of the UNDP to invest in Africa’s top talents.

While announcing the call for applications on his LinkedIn account yesterday, Prof. Yemi Osinbajo mentioned how the accelerator program is a part of innovation hubs created across Africa with specific themes and areas, including Climate tech in Kenya, Edtech in Senegal, Minetech in Zambia, and Fintech in Lagos, Nigeria.

“The idea is that the Lagos Fintech hub will incubate and then deploy at scale the most promising fintech startups coming from anywhere on the continent,” He said while announcing the call applications.

Overview of the Timbuktoo’s Fintech Startup Accelerator

The accelerator program is an initiative that supports African fintech startups deploying technologies in the financial sector and utilizing digital tools to drive innovation and efficiency in the financial sector. The program also supports startups whose solutions are towards one or more of the SDGs and are highly scalable through digital distribution channels or their ability to scale rapidly across African markets.

Also read: Apply for Ecobank Fintech Challenge 2024

Eligibility to Apply for Timbuktoo’s Fintech Startup Accelerator Programme

Founders must be between the ages of 18 and 35
Startups must have founders who are citizens of an African country
Startups must be locally owned and based in any African country
The startups must leverage technology in the financial services sector to capitalize on complex development opportunities and solve challenges.
Startups must have an MVP (minimum viable product)
Startups must have existing corporate governance systems, accountability, and social and environmental safeguards.

Benefits of the Fintech Startup Accelerator

Mentorship and coaching from Africa’s leading industry experts and seasoned entrepreneurs.
Equity-free funding of up to USD 25,000 to support the startup’s growth.
Access to a network of fellow startup founders and entrepreneurs from across Africa.
A platform to connect with and access potential investors as well as customers.
Access to technical resources tailored to accelerate the growth and impact of the startup.