African technology investment fund and incubator, 88mph, says it has opened applications for its second accelerator programme to take place in Cape Town, South Africa.
The three-month accelerator programme, which is scheduled for February 2014, is expected to see startups receive mentoring, access to networks, technical infrastructure and workspace, in exchange for an equity stake.
The programme will conclude with a Demo Day where startups pitch for follow-on funding.
Dan Bowyer, who will be sourcing potential investments and overseeing the existing portfolio, said a “state of excited anticipation” would remain until applications close on December 31.
“Africa is the continent of invention and we are front and centre, asking entrepreneurs to commit to their innovative business ideas that can make money and do great things. In return we are offering up to US$100k seed funding to get their idea off the ground,” he said.
The accelerator programme for the East African region is currently taking place in Nairobi, Kenya.
88mph said that it has invested $500,000 in eight startups chosen from more than 300 applications from around the world.
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