{"id":33945,"date":"2024-06-06T14:24:47","date_gmt":"2024-06-06T14:24:47","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=33945"},"modified":"2024-06-06T14:24:47","modified_gmt":"2024-06-06T14:24:47","slug":"undp-to-support-african-fintech-start-ups-with-25000","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/06\/06\/undp-to-support-african-fintech-start-ups-with-25000\/","title":{"rendered":"UNDP To Support African Fintech Start-ups with $25,000"},"content":{"rendered":"

The United Nations Development Program (UNDP) has announced the opening of applications for its timbuktoo Fintech Start-up Accelerator program, where selected African start-ups will receive $25,000 equity-free funding. \u00a0<\/span><\/p>\n

According to the program\u2019s announcement published by the UNDP, in addition to the funding, start-up founders in the program will also receive mentorship and coaching from Africa\u2019s leading industry experts and seasoned entrepreneurs. \u00a0<\/span><\/p>\n

Other benefits include access to a network of fellow start-up founders and entrepreneurs from across the African continent; the opportunity to connect with and access potential investors as well as customers; and access to technical resources, tailored to accelerate the growth and impact of the start-up.\u00a0<\/span><\/p>\n

Requirement<\/strong>\u00a0<\/strong><\/h4>\n

The program announcement indicated that the applications are open to technology-focused entrepreneurs and start-up founders across Africa aged between 18 and 35, who can build, or are already building, fintech start-ups that meet the following criteria:\u00a0<\/span><\/p>\n

C<\/span>itizens of an African country.\u00a0<\/span><\/p>\n

Start-ups must be <\/span>locally owned and based in any African country.\u00a0<\/span><\/p>\n

Start-ups leveraging technology in the financial services sector to capitalise on complex development opportunities and solve challenges.<\/span>\u00a0<\/span><\/p>\n

Start-ups with a minimum viable product.<\/span>\u00a0<\/span><\/p>\n

Start-ups with existing corporate governance systems, accountability, and social and environmental safeguards.<\/span>\u00a0<\/span><\/p>\n

Furthermore, UNDP said the program will be supporting start-ups that have a technology-enabled solution at its core, utilizing digital tools and platforms to drive innovation and efficiency in the financial sector.\u00a0<\/span><\/p>\n

Attention will also be paid to start-ups whose solutions contribute towards one or more of the SDGs, by promoting growth, industrialization, trade, education, health, and inclusive governance among others.\u00a0<\/span><\/p>\n

According to the organizers, the application portal open from May 31st, 2024, to the 21st of June 2024. Interested and qualified start-ups can apply here<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

About \u201cTimbuktoo\u201d<\/strong><\/p>\n

At a special session of the 2024 World Economic Forum in January this year, the UNDP launched a $1 billion innovation fund aimed at supporting start-ups across Africa.<\/p>\n

Tagged the \u201ctimbuktoo Africa Innovation Fund<\/em><\/strong>\u201d, the initiative was launched together with African countries\u2019 leaders including President Paul Kagame of Rwanda, President Nana Akufo-Addo of Ghana, the Secretary General of the African Continental Free Trade Area Secretariat, Wamkele Mene.\u00a0<\/span><\/p>\n

According to the UNDP, timbuktoo\u2019s ambition is to mobilize and invest $ 1 billion of catalytic and commercial capital to transform 100 million livelihoods and create 10 million dignified new jobs.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The United Nations Development Program (UNDP) has announced the opening of applications for its timbuktoo Fintech Start-up Accelerator program, where selected African start-ups will receive $25,000 equity-free funding. \u00a0 According to the program\u2019s announcement published by the UNDP, in addition to the funding, start-up founders in the program will also receive mentorship and coaching from […]<\/p>\n","protected":false},"author":27,"featured_media":33946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,249],"tags":[],"class_list":["post-33945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=33945"}],"version-history":[{"count":2,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33945\/revisions"}],"predecessor-version":[{"id":33968,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/33945\/revisions\/33968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/33946"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=33945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=33945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=33945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}