Flapmax, a data, AI-driven and asset financing and software management platform for Small and Medium Enterprises (SMEs) technology has select 12 companies selected for the second cohort of the FAST Accelerator startup program, created in partnership with Microsoft to help strengthen and scale Africa’s digital ecosystem.
Following the conclusion of its 2-week Online Bootcamp, which saw 60+ tech companies participate in intensive online training with experienced mentors, FAST Accelerator’s cohort of 12 startups will progress to a 5-week comprehensive acceleration experience in Silicon Valley, California starting in October.
“Microsoft believes that African startups and small and medium-sized enterprises (SMEs) are well-positioned to become a bedrock for the African digital economy, with relevant solutions to local societal and economic challenges.
Participation in the FAST Accelerator program will help these entrepreneurs capture growth opportunities and expand their market reach,” said SME Programme manager, Microsoft Africa Transformation Office, Mame-Fatou Gueye.
The FAST Accelerator programme received over 1,200 applications from 35 countries in Africa, spanning a diverse range of industry sectors, including Financial Services (128 applications), Healthcare (95 applications), Agriculture (235 applications), Transportation & Logistics (60 applications), Clean Technology & Energy (57 applications), and Creative Media & Entertainment (40 applications).
Applicants represented a broad mix of cloud-based products and services serving businesses throughout Africa, harnessing AI to drive innovation, enhance efficiency, and address critical challenges in their respective domains.
“Dr. Dave Ojika, founder and CEO of Flapmax said our mission is to build societally impactful solutions that harness the power of AI to transform multiple industries through long-term partnerships with startups, SMEs, and global enterprises.
“Collaborating with technology partners like Microsoft and Intel, we are assembling a unique fusion of cutting-edge AI technologies, business development strategies, and global-scale growth opportunities for Africa and other emerging markets.
“Our objective is to empower startups and underrepresented entrepreneurs to rapidly and sustainably scale their businesses and create new job opportunities using AI as a catalyst,” he said.