ActivSpaces Cameroon will be launching a 6 months accelerator program called “Activation Bootcamp” in January 2015 for technology startups based in Cameroon. The program is valued at 4.6 million FCFA for each startup, with 1 million FCFA given to the startup in cash.
Application for Activation Bootcamp will open on January 5th and will close on January 19th. The goals of the accelerator program are to help startups make sales, gain traction, and attract investment from external investors.
Launching a startup is hard, launching one in Cameroon even harder. Therefore the selection process is very rigorous. Submitting an application does not guarantee acceptance.
The selection process will consist of a review of the applications by the staff of ActivSpaces along with esteemed members of the community. The short listed start-ups will be invited to pitch their idea to a panel. The pitch event will take place the follow week. More information such as venue, time and requirements will be communicated in due time. Startups selected for Activation Bootcamp will be announced on the day of the pitch event.
After evaluating the value of Activation Bootcamp with our partners, we summarize the value for each startup as follows.
After a six month grace period, startups will pay ActivSpaces a royalty of 5-10% of their total revenue (until they have repaid 4.6 million). Since repayment is based on revenue, Startups will only make payments if and when they start generating revenue.
During Activation Bootcamp the startups and the Activspaces’ team will focus on marketing and sales and thus making the startups more attractive to further investors.
The following will be expected of the Startups:
- Attend weekly meetings with Business Development Team
- Complete tasks set by Business Development Team
- Attend Business Development Sessions
- Complete a monthly audit
- Return on investment after a six month grace period.
ActivSpaces is a tech hub that provides resources including office space, internet, mentorship and financing to technology startups. They run 4 membership programs. Activation Bootcamp (which is the most intensive program offered by ActivSpaces) is for startups ready to go to market.
For any information about the Activation Bootcamp please contact us at Email: firstname.lastname@example.org Website:
- Tel: +237 233 323 554
- Twitter: @ActivSpaces
- Hash tag: #ActivationBootcamp
- Executive Director’s Mobile: +237 671 947 324