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Start with Seven (Sw7) has partnered with Rand Marchant Insurance Holdings‘ (RMI) AlphaCode to launch a dedicated fintech accelerator in the region. The event will run for nine consecutive weeks, starting in January 2016 and will feature evening and structured mentoring sessions during the day.
AlphaCode is a business platform helping to identify and enable key investments in the financial services industry. It has been developed as a next generation business platform.
“Working with AlphaCode gives us a strong support structure and insights into the next generation financial services industry,” states Odette Jones, the Sw7 co-founder.
Senior Investment Executive for AlphaCode, Dominique Collett, says the company is looking for way to find potential investments:
The AlphaCode mandate is to build an investment pipeline for RMI and with this partnership, we have an opportunity to engage with fintech entrepeneurs. We are looking for ways to support and increase the quality of their businesses and Sw7 offers us an identification platform which enables us to engage with potential investments and helps structure the businesses for significant growth.
According to Sw7 co-founder Keith Jones, the programme is looking for “sustainable high-growth businesses that can create long-term value for investors.” He goes on to say, “The Sw7 mentor pool, methodology and content, combined with the support offered by the Microsoft BizSpark and BizSpark Plus programmes and the exposure to RMI’s portfolio of companies through Alpha Code, will give the businesses the appropriate tools to position themselves for significant growth in the fintech space.”
The programme will be accepting applications from 20 October until 10 November. It has not been stated how exactly the initiative will be structured and what the finer details are.
According to Sw7, it is the only Microsoft BizSpark Plus partner in the “region”, which allows them to offer US$120 000 worth of free cloud hosting to qualifying companies.
The news of the accelerator comes around the same time, Sw7 opened applications for its Cape Town accelerator programme.