88mph, an early stage startup fund and 3 month accelerator program has opened its applications for their Nairobi-based program.
The accelerator program, which assists start-ups by giving them investment, access to business networks and the know how to quickly grow their businesses has offices in Cape Town and Nairobi with the aim of spreading to other cities in Africa.
88mph makes investments in early stage mobile-web companies targeting the African market; focusing purely on ideas with potential to scale across Africa.
This will be the second time the accelerator program will be held in Nairobi. The program has already had a successful run in both Cape Town and Nairobi with past participants giving it glowing reviews.
The program usually accepts 10-12 startups that undergo rigorous training on how to grow their business. Those who will be lucky to make it to the program should expect to get exposure to the business community through a host of highly experienced local and global mentors drawn from different industries including large fortune 500 companies, banking, marketing, mobile companies , successful entrepreneurs, among others. Of course the most notable mentor in the program will be Google a partner and benefactor of 88mph.
At the end of the program, 88mph will arrange a demo day, where the startups will get access to a group of investors and showcase what they’ve achieved so far. Last year’s demo day saw one of the startups end up with confirmed follow on funding while 88mph invested in 6 startups. 88mph is so far the only accelerator program to offer direct funding to startups in Africa. The program offers direct investment of up to one hundred thousand dollars to startups that go through their programs. So far 88mph claims to have invested over $750,000 into 23 early stage start-ups in Africa.
Application deadline for Nairobi is midnight July 15th, 2013, while the program is expected to begin on August 26th at the 88mph Garage in Narobi, Kenya
To register for the program, see the registration form here.
If you would like some insights into what the organizers are looking for and learn more about the program, look out for our interview with Katie sorros