May 14, 2021
South Africa’s best up and coming fintech startups sweated it out at a virtual demo day yesterday where they had just five minutes each to convince a panel of judges that they should be part of the second phase of the AlphaCode Incubate programme.
The 10 startups, which have just completed a three-month programme, competed for one of four places in an extended six-month programme valued at almost R1,5-million each. Their success, which was validated by their ability to get traction in a short time, unlocks further funding of R500 000 each and tailored business support.
Andile Maseko, head of ecosystem development at AlphaCode, comments: “Despite a tumultuous year, a number of entrepreneurs saw how they could fill a gap in the market for financial services and related industries. Those selected in the top four earned the opportunity for further funding and mentorship. The first part of the intensive programme focused on entrepreneurship and refining business models. The second phase will focus on revenue generation.”