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

FAST Accelerator 2923 silicon valley cohort

Flapmax has joined forces with Microsoft to nurture promising startups through the FAST Accelerator program. This dynamic initiative is set to catalyze the growth of Africa’s digital economy and drive innovation across various sectors.

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The program aims to empower startups and SMEs across Africa, helping them harness AI technologies and expand their market reach. It’s a clear testament to the belief that African startups are well-positioned to drive the continent’s digital transformation. Mame-Fatou Gueye, SME Program Manager at Microsoft Africa Transformation Office, emphasizes the importance of supporting African startups in tackling local challenges and becoming pivotal players in the African digital economy.

The FAST Accelerator program received a staggering 1200 applications from 35 African countries, spanning a wide range of industries. These applicants showcased cloud-based products and services that leverage AI to drive innovation and efficiency. The diversity of sectors represented, including Financial Services, Healthcare, Agriculture, Transportation & Logistics, Clean Technology & Energy, and Creative Media & Entertainment, underscores the breadth of opportunities for AI-driven solutions in Africa.

Meet the FA23 Cohort

The 12 startups selected for the FAST Accelerator 2023 (FA23) cohort are poised to make a significant impact across various industries. Let’s take a closer look at these innovative ventures:

  1. Zeeh Africa (FinTech): Zeeh Africa’s AI-powered open banking platform connects businesses to financial data, facilitating smoother financial operations.
  2. Sumundi (eCommerce): Sumundi offers an intelligent eCommerce platform tailored for Africa’s retail businesses, streamlining their operations.
  3. Cotrust Equity (FinTech): Cotrust Equity aims to become the “Uber for micro-lending in Africa,” making access to small loans more accessible.
  4. Trucki (Supply Chain): Using AI, Trucki establishes an efficient haulage infrastructure that connects stakeholders in the cargo industry.
  5. Orange VFX (Creative Media): Orange VFX delivers high-quality animation and visual effects that empower African businesses to stand out.
  6. 10mg Pharma (HealthTech): 10mg Pharma leverages AI to reduce medication costs for chronic pain patients, enhancing accessibility to healthcare.
  7. Wallx (FinTech): Wallx offers a comprehensive payment and business solution tailored for small business owners in Africa.
  8. Moosbu (FinTech): Moosbu empowers SMEs with AI-driven tools for sales and financing, fostering growth and stability.
  9. KCG Aquatec Fish Farming (AgTech): KCG Aquatec focuses on sustainable aquaculture infrastructure to support fish farmers in expanding their businesses.
  10. Aibanc (FinTech): Aibanc introduces AI-powered banking solutions tailored for “High Earners Not Rich Yet” (HENRY) individuals.
  11. Zendawa Africa (HealthTech): Zendawa Africa enables neighborhood pharmacies to sell online, improving healthcare accessibility.
  12. Greenbii (FinTech): Greenbii’s AI-driven asset financing and software management platform caters to SMEs, aiding their growth.

Starting in October, the FA23 cohort will embark on a transformative 5-week acceleration program in Silicon Valley. This comprehensive experience will encompass training, AI integration, business development, fundraising, and collaboration with tech giants Intel and Microsoft. These startups will receive invaluable support and guidance to help them scale and fine-tune their AI models on Microsoft Azure and Intel platforms.

Testimonials from Previous Participants

The FAST Accelerator program has already left a positive mark on its participants. HealthX Africa, Dataleum, and Orange VFX Studios have all expressed their enthusiasm for the program, highlighting the valuable mentorship, networking, and global opportunities it provides.

About author

Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: kaluka@techarena.co.ke
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