News Investigators/ Ten African AI startups will receive up to 200,000 dollars each under the Askya AI Growth Platform, chaired by the Chief Executive officer, Moniepoint, Tosin Eniolorunda.
Moniepoint disclosed this in a statement on Tuesday, saying the pan-African initiative would also provide selected startups with strategic guidance, market access and support to achieve product-market fit and scale across the continent.
Mr Eniolorunda said African entrepreneurs had the capacity to develop technology solutions for global users but needed stronger support to translate their ideas into commercially successful businesses.
“Africans can build solutions for people all over the world, and AI may be the clearest opportunity yet to prove it.
“Our young founders are ready; what they need is execution support and access to real customers,” he said.
Moniepoint said Mr Eniolorunda would chair the first cohort, providing strategic guidance and market access to participating founders.
The programme, launched by Askya Investment Partners, said participation would be free, with no equity taken from the selected startups.
The initiative comes amid growing interest in AI as a potential driver of economic growth, innovation and competitiveness across Africa.
Moniepoint cited an African Development Bank estimate that inclusive deployment of AI could contribute up to one trillion dollars to Africa’s Gross Domestic Product by 2035.
Babacar Seck, Founder and Managing Partner of Askya Investment Partners, said Eniolorunda’s experience building a technology company focused on African needs would help shape the next generation of African technology entrepreneurs.
Mr Seck said the programme would support selected founders to achieve product-market fit, build commercial traction and position their businesses for expansion across the continent.
Applications are open to African AI-native startups, with shortlisted candidates expected to be announced in October.
NAN