Meet the 5 Nigerian Startups Selected for the $750,000 Telecel ASIP Accelerator

AGS Tribe, Agrodata and 3 other Nigerian startups are among the 10 African startups selected to participate in 2021 Telecel Group’s Africa Startup Initiative Program (ASIP) accelerator powered by Startupbootcamp AfriTech.

According to the group, the selected startups were shortlisted from a record 2,229 applications from across the continent.

The initial selection process withered down the list to 20 semifinalists. This was followed by an intensive 2-day selection process which produced the top 10. It was carried out with the help of investors, corporate stakeholders, and industry experts.

Speaking on the selection, Telecel Group Executive Deputy and ASIP Director, Eleanor Azar expressed that the top 20 startups are all exceptional, and the selection was a tough choice.

“We are looking forward to working with the top 10 and exposing them to our entities while helping them achieve their targets. I encourage the rest of the teams to apply again for our next cohort in 9 months.”

AGS Tribe, Agrodata; 5 Nigerian Startups have been Selected for $750,000 ASIP Accelerator

Over $750,000 in benefits

The selected startups will undergo 3-month intensive coaching through expert-led masterclasses starting July 5th. The coaching will cover scaling fundamentals including the business model canvas, lean methodology, and fundraising

Due to Covid 19 travel restrictions, this year’s program will be fully remote using the Accelerator Squared platform.

During the program, the startups will each have exciting opportunities to run pilot projects with corporate partners to demonstrate the impact of their solutions. Telecel will also provide the participating startups with access to markets through its mobile services across the continent.

In addition to customized support from experienced mentors and dedicated Entrepreneurs-In-Residence, the 10 startups will receive benefits valued at more than $750,000, including credits and cash from Telecel Group, AWS, Google Cloud Services and many more.

AGS Tribe, Agrodata; 5 Nigerian Startups have been Selected for $750,000 ASIP Accelerator

The ASIP Accelerator will culminate in an online Demo Day on September 30th, where startup founders get to pitch their disruptive solutions to a broad audience of media, investors, corporate partners, and industry stakeholders.

Founded by telecoms giant, Telecel Group, and backed by key tech partners including AWS and Google Cloud Platform, ASIP aims to support the next generation of early-stage African tech startups disrupting key industry verticals that include FinTech, InsureTech, AgriTech, eCommerce, Digital Health, and CleanTech.

The 10 startups

The selected startups are spread across the African tech space from Nigeria to Kenya, Ghana and Zimbabwe etc. However, Nigerian startups dominate the list with a total of 5 startups across different industries.

The Nigerian startups are Worldbay Technologies, AGS Tribe, Agrodata, NucleusIS and Ustacky.

From Cameroun, there is Agrix, an Agritech startup that leverages AI and image recognition to detect crop diseases. Then Motito, a credit platform from Ghana and Thumeza, a logistic platforms from Zimbabwe.

Others include Weza Ventures, a new generation lending platform from Kenya, and Dawa Health, a digital health tech platform based in Lusaka, Zambia.

According to Philip Kiracofe, Co-founder and Chief Disruptor at SBC AfriTech, 8 out of the 10 startups in this year’s cohort have one or more female co-founders.

Here’s a short summary of the Nigerian startups selected

AGS Tribe, is a pan-African community designed to inspire, connect and build the capacity of young entrepreneurs and professionals through capacity building, financial inclusion initiatives, and enterprise challenges.

Agrodata is an Ibadan based Agrotech company that has created a bee-centred cropping model called iSmarthives. The model uses an IoT device that the startup installs for free on farmlands across Nigeria.

NucleusIS is a health insurance value chain that curtails fraud, reduces cost, increases efficiency, and provides distribution channels for sales. It currently has over 100 Plan types provided by 11+ Health Insurance Companies.

Ustacky is an online stack-learning platform founded in 2019. It offers micro degrees and courses in programming and tech.

The startup is teaching industry-relevant technology skills to Africans through quality video content, quizzes and projects which aid in student learning.

Worldbay Technologies is a Lagos-based company taking the principle of crowd-funding and thrift and applying it to food.

The enterprise makes food affordable through a monthly subscription service for staple foods and leveraging economies of scale to drive prices lower for subscribers.

In summary

The accelerator provides a great opportunity for the selected startup to grow and scale fast. With ASIP, the startups will have opportunities to make commercial contracts that can help them to achieve 18 months of growth in just 3 months. 

Similarly, Philip Kiracofe, Co-founder and Chief Disruptor at SBC AfriTech lauded the potential benefits of the accelerator. He revealed that in the last 3 years, SBC AfriTech has had a remarkable track record with its 29 alumni as 88% are still operating, and have collectively raised more than $90 million in follow-on funding.

The post Meet the 5 Nigerian Startups Selected for the $750,000 Telecel ASIP Accelerator appeared first on Technext.

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