There is another launch of an accelerator fund looking to spur technology innovation in Africa. 88mph looks to run Africa’s first intense 3-month accelerator program investing a minimum of $200,000 spread across 8-15 start-ups initially. This is the business model of Silicon Valley Y Combinator which produced companies like Dropbox, Airbnb and others.
This is the structure of this accelerator program:
Up to $24,000 available per startup. Details:
- Applications to 88mph close on August 15th
- Startups can apply now at 88mph.ac
- The $24k investment will take a 6 to 18 percent equity stake in each startup
- Altogether 8 – 15 teams will receive an investment and get accepted into the 3-month program
- The teams will be notified if they have been accepted to the program by Sept 5th
- Program starts on September 15th in the 800m2 88mph Garage in Nairobi, Kenya
- Besides funding, the accelerator program includes exposure to 88mph’s mentors & networks of business and tech professionals
- Startups in the program will have access to tech hubs in Nairobi and Cape Town, as well as to 88mph’s partner tech hubs across Africa.
Key program dates
- Application deadline: August 15th
- Teams chosen & notified: September 5th
- Program starts: September 15th
- Demo day (preliminary): December 15th