AlphaCode Incubate, established to identify, partner with and grow innovative entrepreneurs in financial services and related industries, this week said if one had a fantastic early-stage fintech or related sector start-up or even a brilliant idea, applications for next year’s programme were now open.
Innovative business concepts led by strong entrepreneurial teams, could apply before October 31 for the next programme, which starts on January, 17, 2022 (apply at www.alphacode.club/incubate) and they could benefit from a R1.5 million entrepreneurial package, it said.
To date, the Incubate programme has disbursed R33.5 million in funding to 41 black-owned financial services businesses over the past six years. This proven programme offers funding, guidance from experienced mentors and a panel of advisory experts as well as access to AlphaCode’s exclusive co-working space, the firm said.
“Despite the psychological, financial and health challenges we faced during the pandemic, there has been incredible camaraderie and traction achieved among the selected start-ups,” said Amina Patterson, the head of incubation at AlphaCode.
AlphaCode said some success metrics from the 10 businesses that participated in 2021 were 55.7 percent revenue growth; about R60 000 average monthly recurring revenue across the businesses and more than 45 jobs created.