Twelve companies have been selected for the second cohort of the FAST Accelerator startup program by Flapmax. Flapmax is collaborating with Microsoft to improve and advance Africa’s digital ecosystem.
Flapmax is an AI-driven, asset financing and software management platform for Small and Medium Enterprises (SMEs) technology. The 12 startup companies in the FAST Accelerator’s cohort will commence a 5-week intensive acceleration experience as from October in Silicon Valley, California. This comes after the conclusion of its 2-week Online Bootcamp which included about 60 tech firms engaging in comprehensive computer-based training with experienced coaches.
Mame-Fatou Gueye, SME Programme manager, Microsoft Africa Transformation Office, said “Microsoft believes that African startups and small and medium-sized enterprises (SMEs) are well-positioned to become a bedrock for the African digital economy, with relevant solutions to local societal and economic challenges. Participation in the FAST Accelerator program will help these entrepreneurs capture growth opportunities and expand their market reach,”
About 1,200 applications from 35 countries in Africa were set to access the FAST Accelerator program. Applications come from various industries which include Financial Services (128 applications), Healthcare (95 applications), Agriculture (235 applications), Transportation and Logistics (60 applications), Clean Technology and energy (57 applications), and Creative Media and entertainment (40 applications).
The applicants come from industries involved in a mixed breed of cloud-based products and services whose market is an Africa audience. These applicants are set to learn how to harness AI to boost transformation, improve efficiency, and address major issues in their respective domains.
On the program, the founder and CEO of Flapmax revealed that “our mission is to build societally impactful solutions that harness the power of AI to transform multiple industries through long-term partnerships with startups, SMEs, and global enterprises. Collaborating with technology partners like Microsoft and Intel, we are assembling a unique fusion of cutting-edge AI technologies, business development strategies, and global-scale growth opportunities for Africa and other emerging markets.
Flapmax’s main objective is to empower startups and underrepresented entrepreneurs to rapidly and sustainably scale their businesses and create new job opportunities using AI as a catalyst.