Microsoft-backed AI program for African startups launches
Flapmax, a leading artificial intelligence (AI) company, has launched the second FAST Accelerator program designed to support and fund the next generation of innovative companies and entrepreneurs in Africa.
Building on the success of the inaugural program, which more than 800 startups from 25+ countries applied to join, the accelerator helps startup founders seeking to scale rapidly and sustainably.
In partnership with Microsoft, the initiative combines business development, technology integration, funding opportunities, and community building to empower startup companies based in Africa and emerging markets to deliver sustainable solutions.
Across Africa, startups currently offer AI-driven services and are increasingly attracting VC dollars to serve several industries. Earlier this year, Germany’s BioNTech SE acquired InstaDeep, a Tunis-born AI startup, for up to $680m. Egypt-based Instabug and Synapse Analytics raised $46m and $2m respectively last year. For every big name that dominates the headlines, there are several other upstarts building innovative AI-led solutions, though yet to be market-tested, that need early-stage support from programs like FAST.