Published On: Fri, Oct 7th, 2016

SAP StartUp Focus accelerates fintech growth

sap-startup-1JOHANNESBURG, (CAJ News) – REGISTRATION has opened for a new scheme that aims to empower South African financial technology (fintech) startups.

SAP StartUp Focus, the programme announced by SAP Africa and Rise Cape Town, a Barclays Africa initiative, forms part of the global initiative that began in 2012 and kicked off in South Africa a year later.

The aim is to attract entrepreneurs from across the South African financial services sector.

The fintech-focused events will take place at Rise Cape Town on October 20 and 21.

Interested startups can register on the SAP forum website.

The programme is open to South Africa-based entrepreneurs whose ventures are at an early stage. Anyone with business ideas focusing on payment platforms, blockchain, remittance, insuretech, alternative lending, big data, artificial intelligence or any innovation that disrupts financial services is encouraged to enter.

On October, 20 the top six startups that meet all the criteria will be invited to pitch their business ideas to a panel of experts and potential business connections led by Nicole Anderson, a global expert in financial technology.

These companies will then be invited to a comprehensive training session focused on how to develop prototypes using the SAP HANA Cloud technology on October 21.

The qualifying startups will also receive a complimentary three month membership to Rise Cape Town, a gathering space renowned for its innovative approach to hosting Africa’s brightest minds in the financial services technology industry.

Elke Simon-Keller, Innovation Lead at SAP Africa, says the company is excited about the partnership with Rise.

“We are leveraging this forum to accelerate startups in South Africa and showcase how other successful startups are using SAP technology and the SAP ecosystem network to create viable commercial opportunities,” says Simon-Keller.

Simon-Keller says the programme will provide startups with access to SAP’s technology, customer-base as well as mentorship.

“With the help of our technical experts and software developers, we are also confident that winning fintech startups will benefit immensely from the technology hands-on workshop to develop their own business prototype.”

Camilla Swart, Ecosystem Manager of Rise Cape Town, says they have partnered with SAP as they share a vision to bring startups and corporates together to solve some of the biggest challenges facing financial services.

“By creating a community of the world’s brightest thinkers and doers, Rise is able to empower startups and connect them to potential investors, partners and customers – and in the case of the Fintech StartUp programme, ultimately boost the African economy and help the continent prosper,” Swart says.

To date, enterprise application software firm SAP has impacted over 3 750 startups across Africa.

Via the collaboration with Barclays Rise, SAP plans to expand the forum.

CAJ News

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