https://www.engineeringnews.co.za
Service|Services|Technology|Operations
Service|Services|Technology|Operations
service|services|technology|operations

AlphaCode selects five fintech startups to advance in incubation programme

3rd June 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Fintech startup initiative AlphaCode has identified five fintech startup companies to receive an additional six months of mentorship and execution support, after they completed an initial three-month programme and received R500 000 in grant funding each.

AlphaCode, through its Incubate programme, is open to entrepreneurs with early-stage fintech or related sector startups.

AlphaCode last year selected eight businesses to participate in the three-month programme, after which five businesses convinced a panel of judges why they should remain part of the Incubate programme.

Almost 170 technology businesses initially applied for the AlphaCode Incubate programme, of which eight were selected to participate in the three-month programme that provided funding, guidance from performance coaches and a panel of advisory experts, access to AlphaCode’s working space and opportunities to apply for further early-stage investment.

AlphaCode operations head Amina Patterson says the eight startups were particularly impressive, with seven of the eight led by female founders.

She mentions that AlphaCode initially intended for four startups to advance to the six-month programme, but that the talent was too compelling to not bring one more company on board.

The three businesses that did not advance to the next phase of the programme are still receiving mentorship.

Parent company Rand Merchant Investment Holdings executive Dominique Collett comments that it is clear how the standard of the AlphaCode Incubate programme has been raised.

The five participants in the six-month programme will each receive R500 000 in grant funding.

AlphaCode Incubate has disbursed R36-million in funding to 50 tech-enabled startups over the past seven years.

The five selected businesses are:

*Abela, a mobile payments platform that allows the underserved to make and receive payments;

*BriefCo, a legal cost consultancy leveraging technology to digitise and automate the preparation of bill of costs and oppositions;

*Sizanani, a stokvel management platform providing the first Whatsapp-based stokvel solution;

*Vocalysd, a transformative conversation-related technology leveraging artificial intelligence for call monitoring, analysis and reporting; and

*Welo, an on-site healthcare services, home medicine delivery and pathology service catering to individuals and corporates.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.086 0.138s - 144pq - 2rq
Subscribe Now