The World Bank's XL-Africa programme has announced its first cohort of 20 Afrikan digital startups. Over 900 digital startups applied for the programme when it launched earlier in April 2017.
The digital startups that have been selected specialize in digital products and solutions spanning the fields of FinTech, transportation, healthcare, education, human resources, and B2B.
The XL Africa programme is a four-month business acceleration program designed to support 20 promising digital start-ups from Sub-Saharan Afrika, with early stage capital between $250,000 and $1,5 million also being made available. The programme’s flagship activity includes a two-week residency in Cape Town, South Africa, where the ventures will have the opportunity to interact with and learn from their mentors, peers, and local partners.
The Cape Town residency will conclude with the Venture Showcase, a regional event in which the entrepreneurs will present their business models to a select audience of corporations and investors. The showcase is held in association with the African Angel Investor Summit.