AlphaCode invites fintech startups to apply for a slice of R16m in support

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Fintech incubation hub AlphaCode has announced details of its incubation programme for this year.

AlphaCode Incubate, Bank of America Merrill Lynch South Africa and Royal Bafokeng Holdings have partnered up to offer financial services businesses entrepreneurial packages worth R2 million.

The packages include R1 million in grant funding as well as mentorship, monthly expert-led sessions, exclusive office space in Sandton, marketing, legal and other business support services worth R1 million.

“We want to help take courageous entrepreneurs with seriously disruptive financial services business models to the next level. We are looking for businesses across the financial services spectrum including payments, insurance, savings and investments, advisory, data analytics and blockchain. We will consider early-stage ideas and businesses not older than two years which are 51% black-owned and managed,” said AlphaCode head Dominique Collett.

All fintech startups are invited to apply but only 16 will be invited to pitch for one of the eight available spots in the AlphaCode Incubate programme and the R2 million entrepreneurial package.

“The AlphaCode Incubate support unlocked critical opportunities that the Heritage Capital Fund was working on at the time, specifically our ability to continue fundraising and introductions to a relevant network of industry participants,” Kedibone Imathiu, founding partner of Heritage Capital and former AlphaCode Incubate participant said.

Applications are open now and will close on 31st August so be sure to visit AlphaCode Incubate to submit your idea and business for consideration.

[Image – AlphaCode]

Brendyn Lotz

Brendyn Lotz

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.