AlphaCode Shortlists Four Startups for the Second Phase of Its Incubate Program

As a part of the second phase of their Incubate program, AlphaCode has announced the list of four fintech startups that will be a part of the program.

These four startups were selected out of 10 and will now take part in a 6-month program valued at almost R1,5 million each. The ability of the startups to get traction in such a short time only adds to their success and helps unlock further funding of R500,000 each with tailored business support.

“Despite a tumultuous year, a number of entrepreneurs saw how they could fill a gap in the market for financial services and related industries. Those selected in the top four earned the opportunity for further funding and mentorship. The first part of the intensive programme focused on entrepreneurship and refining business models. The second phase will focus on revenue generation.”

Andile Maseko, head of ecosystem development at AlphaCode

The selected startups include AgriCool, an e-marketplace that links smallholding farmers and buyers to a fair and reliable market, Bento, an out-of-the-box employee perks and benefits platform. It gives employers a simple and cost-effective solution to offer employee benefits without the cost and administrative burden. Others are Imfuyo Technologies that is developing a smart farming solution that will give livestock farmers better oversight of their operations at viable cost points and helps athletes better commercialize their careers. The platform helps athletes make money, regardless of the status of sporting events.

“We have been very impressed with the level of drive of these ten startups who applied what they have learned on the AlphaCode Incubate programme as they focused on increased traction. The standard of these ideas gets better every year. It’s been a very intense time for the participants and we look forward to growing the four businesses.”

Dominique Collett, head of AlphaCode and a Rand Merchant Investments Holdings (RMI)

In addition to the various perks, the selected startups will be able to apply for seed capital from AlphaCode’s fund that invests in early-stage startups.

More News