The timbuktoo Fintech Accelerator Program

The timbuktoo Fintech Startup Accelerator Programme is a Pan-African initiative designed to support and scale the most promising fintech ventures across the continent. This program is transforming Africa's financial landscape by fostering innovation, scalability, and impactful solutions. The United Nations Development Programme (UNDP) is collaborating with Africa Fintech Foundry, a prominent Lagos fintech hub, to implement and execute key activities of the program.

Program Goals and Objectives

The program has a long-term vision to support the growth of African startups within the fintech sector. More than just a startup accelerator, the timbuktoo program aims to cultivate a robust fintech ecosystem in Africa. Its core objectives include:

• Promoting discussions around industry disruption.
• Advocating for policies that support growth.
• Analyzing the economic impact of fintech.
• Facilitating collaboration and innovation among stakeholders.

Program Structure

The timbuktoo Fintech Startup Accelerator Program is structured in four key stages:

1. Evaluation: A rigorous 3-stage selection process that identifies high-potential startups.

2. Bootcamp Phase: The boot camp includes a 1-week physical residency in Lagos, Nigeria, followed by a 3-month virtual boot camp. The boot camp focuses on building operational capacity, refining product offerings, and preparing for market entry and scaling.

3. Acceleration Phase: A program designed to scale innovations and equip startups with tools and strategies to grow rapidly and prepare for market expansion and follow-on funding. Startups participate in structured learning, mentorship, and hands-on activities, including workshops, tailored mentorship, one-on-one coaching clinics with experts, pitch practice sessions, investor speed-dating sessions, finalizing financial models, user testing, growth marketing strategies, and partnership collaborations.

The phase includes a physical residency at the Timbuktu fintech Hub in Lagos, followed by a five-month virtual accelerator that will end with a demo day.

Evaluation and Selection

The program employs a rigorous three-stage evaluation process to ensure the selection of high-potential startups.

• Stage 1: Due diligence assessment of startups, covering partnerships, sectoral affiliations, and finances. This will be conducted by UNDP and AFF.
• Stage 2: Startups deliver virtual pitches, scored by a selection committee using a weighted scoring system.
• Stage 3: The final shortlist is presented.

Key evaluation criteria include:

• Profitability and Financial Sustainability.
• Scalability and Feasibility.
• Long-term Vision and Impact of Business.
• Funding and Growth Strategies.

Bootcamp and Acceleration Phase Details

The boot camp phase includes:

• Physical residency in Lagos with workshops, mentorship, and networking.
• Virtual boot camp with a comprehensive course outline, interactive activities, and translation services.
• A rigorous evaluation process to select startups for the acceleration phase, including a pitch session.

The acceleration phase includes:

• A program focused on scaling startups through structured learning and mentorship.
• Key activities such as masterclasses, tailored mentorship sessions, pitch practice, and investor speed-dating.
• Emphasis on strategic partnerships, market entry preparation, and investment readiness.

timbuktoo Fintech Hub Goals

• Build a vibrant, pan-African ecosystem anchored in Lagos
• Position the timbuktoo Hub as a launchpad for scalable fintech innovation
• Strengthen the visibility and impact of African fintechs across global ecosystems
• Deliver sustainable, long-term partnerships that continue beyond the accelerator cycle

Conclusion

The timbuktoo Fintech Accelerator Programme is set to significantly impact the African fintech ecosystem. By providing crucial support and fostering innovation, this initiative paves the way for the growth and success of African fintech startups.