Microsoft-backed FAST Accelerator Announces 12 African Startups Selected for Artificial Intelligence (AI) Program

Flapmax, a prominent data and AI technology company, has unveiled the twelve startups selected for the second cohort of the FAST Accelerator program.

This initiative, developed in collaboration with Microsoft, aims to fortify and expand Africa’s digital ecosystem.

After an intensive 2-week Online Bootcamp featuring over 60 tech companies and experienced mentors, these 12 startups will proceed to a comprehensive 5-week acceleration program in Silicon Valley, California, commencing in October.

Microsoft’s Commitment to African Startups

Microsoft recognizes the potential of African startups and small and medium-sized enterprises (SMEs) in bolstering the African digital economy and addressing local challenges. Mame-Fatou Gueye, SME Program Manager at Microsoft Africa Transformation Office, emphasizes the program’s role in helping entrepreneurs seize growth opportunities and broaden their market presence.

Overwhelming Response and Diverse Applicants

The FAST Accelerator program attracted over 1200 applications from 35 African countries, spanning various industry sectors, including Financial Services, Healthcare, Agriculture, Transportation & Logistics, Clean Technology & Energy, and Creative Media & Entertainment. These applicants offered a wide array of cloud-based products and services, harnessing the power of AI to drive innovation and efficiency while addressing critical challenges.

Flapmax’s Vision

Dr. Dave Ojika, founder and CEO of Flapmax, underscores the company’s mission to forge impactful solutions using AI to transform multiple industries. Collaboration with technology giants like Microsoft and Intel enables them to create opportunities for startups, SMEs, and global enterprises. The goal is to empower entrepreneurs, facilitate sustainable growth, and generate job opportunities using AI as a catalyst.

Meet the FA23 Cohort of Startups

The FA23 cohort features an array of startups addressing diverse sectors and UN Sustainable Development Goals:

1. Zeeh Africa (FinTech): An AI-powered open banking platform connecting businesses to financial data.
2. Sumundi (eCommerce): An intelligent eCommerce platform for Africa’s retail businesses.
3. Cotrust Equity (FinTech): Dubbed the “Uber for micro-lending in Africa.”
4. Trucki (Supply Chain): An AI-powered haulage infrastructure connecting cargo stakeholders.
5. Orange VFX (Creative Media): Delivering high-quality animation and visual effects for African businesses.
6. 10mg Pharma (HealthTech): AI-driven cost savings on medications for chronic pain patients.
7. Wallx (FinTech): A payment and business solution for small business owners.
8. Moosbu (FinTech): Empowering SMEs with AI for sales and financing.
9. KCG Aquatec Fish Farming (AgTech): Aquaculture infrastructure aiding sustainable fish farming.
10. Aibanc (FinTech): AI-powered banking for High Earners Not Rich Yet (HENRY).
11. Zendawa Africa (HealthTech): Enabling neighborhood pharmacies to sell online.
12. Greenbii (FinTech): An AI-driven asset financing and software management platform for SMEs.

Empowering Africa’s Innovators

Starting on October 23, the FA23 cohort will partake in a comprehensive program involving training, AI integration, business development, fundraising, and various events. Collaboration with Intel and Microsoft on co-innovation projects will be instrumental, along with sales and marketing support. Furthermore, Flapmax’s engineering team will provide assistance in optimizing Large Language AI models (LLMs) on Microsoft Azure and Intel platforms.

Testimonials from Previous Participants

Participants from past Online Bootcamp programs expressed their enthusiasm:

• HealthX Africa: “It is inspiring to learn what is happening in the AI and tech space across sectors and to interact with cohort members and speakers who are experts in their fields.”
• Dataleum: “This [will] provide us with mentorship, networking, and fundraising opportunities with global startups. This is a huge one for us, and we are more than excited to embark on this adventure!”
• Ricard Oboh, Co-Founder and Creative Director of Orange VFX Studios: “It was such a great privilege participating in the FAST Accelerator program! Thank you for the phenomenal classes and the opportunity to build new cross-national networks with other amazing entrepreneurs creating global solutions to local problems with one single aim to make the world a better place for everyone!”

Introducing FAST Portal

Flapmax has also launched FAST Portal, a digital matching platform designed to connect investors with startups. This platform will facilitate introductions between investors, partners, and startups within the FAST Accelerator community. Corporate partners and organizations are encouraged to join Flapmax’s mission to empower entrepreneurs and innovators in underserved markets around the world.

The FAST Accelerator continues to play a pivotal role in nurturing Africa’s innovation ecosystem and propelling promising startups toward global success.