Amazon Web Services (AWS), the cloud computing division of the US-tech giant, has begun the initial stages of its new African accelerator programme.
AWS FinTech Africa Accelerator is being billed by the firm as an equity-free programme that supports early stage startups with a range of resources including technology, market development and go-to market advice as well as helping startups navigate the complexities of getting funding ready.
Applications for the programme’s inaugural edition have started and will be open to early-stage fintech startups in Africa until April 27, 2023. All pre-seed and seed stage fintech startups operating in the region have been encouraged to apply.
According to a report in Africa Business, the programme has been designed to work directly with CEO’s and CTO’s, while participating startups will join AWS’ Activate programme which will provide founders with up to $25K USD in Activate Credits.
Founders will also take part in a series of industry expert-led workshops and one-on-one sessions designed to address the specific challenges and opportunities each startup faces.
In 2022, fintech startups in Africa raised over $2B USD in venture funding, sustaining Africa’s fintech industry as the top recipient of venture funding on the continent for the past several years, according to Briter Bridges.
The programme, which is hosted by AWS’ globally-recognised Startup Loft Accelerator, has been introduced five years after the company first announced its Africa region. It is currently served by three AWS data centers, two of which are in South Africa and the third in Nairobi, Kenya.
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