TechPression

Tag: Startupbootcamp

  • Ajé sets new standard for secure online trade with Blockchain and AI, gaining 7,500+ users in 1 year

    Ajé sets new standard for secure online trade with Blockchain and AI, gaining 7,500+ users in 1 year

    Ajé, a Nigerian startup founded by Oluwaseun Odukoya, has made impressive strides in the digital trade, onboarding over 7,500 users within 12 months. 

    This accomplishment highlights Ajé’s blockchain-powered platform’s objective to boost online commerce trust, which was announced on Friday.

    Read also: Ozi targets parcel delivery market with blockchain

    Strategic partnerships

    Ajé has formed strategic partnerships with notable organisations such as Startupbootcamp, Microsoft Azure, and ALX. 

    These partnerships confirm Ajé’s technology and position the company for development.

    Odukoya says, “These partnerships are crucial for scaling our operations and enhancing our platform capabilities,” reflecting the startup’s commitment to leveraging external expertise to improve user experience.

    The partnerships enable Ajé to integrate advanced technological solutions into its platform, such as AI-driven dispute resolution and enhanced security measures. 

    This focus on innovation is vital in a market where trust remains a significant barrier to online commerce.

    As Ifeoluwa Wole-Osho, CEO of Ajé, stated, “Trust remains one of the largest barriers to the growth of online commerce in emerging markets.”

    Read also: JADA’s vision to build a world-class AI workforce in Africa

    Empowering Users

    Ajé is a blockchain-based social commerce platform that enables secure transactions. It offers key features such as a secure escrow service, multi-currency wallets, and effective dispute resolution tools.

    These features empower individuals and businesses to transact safely and transparently across emerging markets.

    The startup has completed over 1,000 escrow-protected transactions and has seen a 32 per cent month-over-month increase in repeat engagement. This rapid growth highlights Ajé’s appeal to users who seek secure and frictionless trade experiences. 

    Odukoya emphasised the importance of community feedback in shaping Ajé’s features: “We listen to our users and adapt our services to meet their needs,” showcasing the startup’s dedication to user-centric innovation.

    Ajé is preparing for a $500,000 pre-seed funding round to scale operations and enhance its platform, aiming for 1 million transactions by 2026 to strengthen its position in Africa’s digital commerce.

  • Startupbootcamp, Mara Group launch $250 million fund to boost African tech startups

    Startupbootcamp, Mara Group launch $250 million fund to boost African tech startups

    Startupbootcamp, a leading global tech accelerator, has announced a partnership with Ashish Thakkar’s Mara Group and Blend Financial Services to establish a $250 million fund dedicated to accelerating African tech startups. 

    The partnership was finalised at the Future Investment Initiative which was held between October 29 and 31 in Saudi Arabia, to source additional funding from development institutions and support startups in key growth stages across the continent.

    The fund will begin investing in the next three to six months, focusing on emerging hubs in South Africa, Nigeria, Kenya, Ivory Coast, and Egypt.

    Read also: Visa supports four African startups to boost financial inclusion

    Fuelling Africa’s fast-growing tech landscape

    Africa’s tech sector is expanding rapidly, driven by a young, tech-savvy population and a surge in digital transformation across various industries. With its focus on early-stage and pre-IPO rounds, the fund aims to provide startups with the capital and resources needed to address infrastructure challenges and scale their innovations. Key tech hubs, including Cape Town, Johannesburg, Nairobi, and Ebene in Mauritius, are expected to play a leading role in Africa’s digital transformation, according to recent studies by New World Wealth and Platform45.

    A commitment to Africa’s startup ecosystem

    Ashish Thakkar, a prominent African business leader and the founder of Mara Group, formalised this partnership at the Future Investment Initiative held in Saudi Arabia last week. The fund will channel investments toward startups with strong growth potential and seeks to address critical gaps in Africa’s digital infrastructure. Thakkar highlighted the fund’s strategic vision, noting its alignment with Africa’s growing demand for digital solutions and innovation.

    “I’ve been searching for a platform that can support our angel investing efforts at scale,” said Thakkar, who co-founded Atlas Mara with former Barclays CEO Bob Diamond. “This fund is a promising start, with potential for later-stage investments over time.”

    Read also: Visa backs African fintech startups OkHi, Oze, Orda and Workpay with $1 billion

    Investing in Africa’s future tech leaders

    The $250 million fund represents a major investment in Africa’s startup ecosystem and reflects Startupbootcamp’s commitment to fostering innovation on the continent. The initial focus will be on startups at the early stages and in pre-IPO phases, with plans to expand into funding opportunities at different growth stages as the venture matures. By prioritising startups that can address Africa’s infrastructure and technological needs, the partnership aims to create a foundation for long-term economic impact.

    This initiative follows a broader trend of global investors recognising the potential of Africa’s tech sector and its capacity for high returns and transformative social impact. According to Thakkar and his partners, the fund is designed to support startups in a way that empowers local talent and drives regional growth, particularly in sectors like fintech, agritech, healthtech, and e-commerce.

    With this substantial funding boost, Startupbootcamp and Mara Group’s collaborative venture marks a pivotal step in supporting Africa’s innovators and positioning the continent as a prominent player in the global tech landscape. As investment begins to flow in the coming months, the fund is expected to set a new benchmark for tech startup support across Africa.

  • Startupbootcamp programme now open to applications

    Startupbootcamp programme now open to applications

    Startupbootcamp Afritech’s ASIP incubator programme, which helps build African startups, is now accepting applications for Cohort 4.

    The programme will take place in Dakar, Senegal, and it will end with a Demo Day where startup founders pitch their innovative solutions to a large group of media, investors, business partners, and industry stakeholders.

    The 10 startups in the program will receive benefits valued at more than EUR 500,000, including credits from AWS, Google Cloud Services, Hubspot, and many more. ASIP Accelerator also invests EUR 15,000 in cash in each startup.

    According to the people who run the programme, the ASIP accelerator programme gives early-stage startups in Africa a chance to speed up their growth and get access to a global network of investors and business partners.

    Henry Ojuor, the programme head for ASIP, said, “Earlier this year, we saw history being made when startups from our ASIP Accelerator went on stage to show the world their innovations and traction.

    “With $4.5 million in funding talks and tens of corporate pilots across the cohort, we’re back on the road looking for the next group of innovative entrepreneurs for ASIP Accelerator cohort 4.”

    The programme’s creators said that since it started in 2017, it has helped 60 startups and played an important role in giving African businesses more power and driving innovation in many different industries.

    “In the lively rhythm of Africa’s untapped potential, we’ll be going back and forth across the whole continent to find, train, and scale the most bright innovators. We’re excited to meet you and can’t wait to help you get to the moon,” Ojuor said.

    Read also: African startups can attend VFA’s Go-To-Market bootcamp

    Partnering with Startup Bootcamp

    The programme is sponsored by DER/FJ, FMO, MASSIF, AWS, Google for Startups, and Firstbase. “ASIP helps the next generation of African tech startups in their early stages so they can disrupt key industries.”

    Africa is a center for innovation and new businesses because it has a growing number of talented entrepreneurs, ecosystems that support them, and more and more ways to get money.

    Mame Any Seye, who works for DER/FJ and is in charge of entrepreneurship for the partnership, promised to help innovative start-ups as a way to improve the environment.

    We think they can change industries, make money, and help Senegal’s economy. “Our resources, knowledge, and network are helping them reach their goals,” Seye said.

    “After seeing how well the entrepreneurs in Cohort 3 did, we’re excited to work with Startupbootcamp again on Cohort 4 of the ASIP Accelerator, and we’re looking forward to keeping an eye on the startups that are taking part,” said FMO senior associate Esther Njorog. This project supports new and innovative business models that strengthen the entrepreneurial ecosystem in key industries in Africa.

    Binance Partners with Utiva to Host Blockchain Education Bootcamp For African Women

    Startupbootcamp supports MVP-based startups

    The programme is open to startups in many fields, including but not limited to FinTech, InsureTech, AgriTech, Climate-Tech, eCommerce, Digital Health, Green-Tech, Mobility, Digitizing the Informal Economy, and Giving Craftsmen More Power. During the selection process, startups that have a minimum viable product (MVP), market growth, and a strong founding team will be given priority.

    The organizers say that the selected participants will spend three months getting intense coaching through masterclasses led by experts. These classes will cover scaling basics like the business model canvas, lean methodology, and fundraising.

    For the startups that are chosen, there will be a full system of support, including expert mentoring, industry connections, funding opportunities, a wide range of resources, and a network of alumni.

    The deadline for applications is September 8, and the last Selection Day is October 18, 2023. Cohort 4 will start on November 13, 2023.m