South Africa’s premium fintech and startup community AlphaCode, has opened applications for its prestigious AlphaCode Incubate programme.

AlphaCode Incubate aims to identify and partner with the most innovative finance services entrepreneurs.

Partnering with Bank of America Merrill Lynch South Africa and Royal Bafokeng Holdings, AlphaCode Incubate is offering a 12-month tailored financial services programme to entrepreneurs.

Applicants will have the opportunity to present at AlphaCode Incubate’s pitch night with the chance to win R1 million grant funding and office space at AlphaCode’s exclusive Sandton co-working space.

Winners will also have access to comprehensive business support services and networks, and experts, potential clients, thought leaders and capital throughout the tailored programme.

Over the last three years, AlphaCode Incubate has awarded R13 million to 15 black-owned businesses over the last three years.

According to AlphaCode’s Head, Dominique Collett, “AlphaCode identifies, partners and grows next generation financial services entrepreneurs. We take in high potential businesses that we can nurture to prepare them for the next phase of growth. Our aim is to transform them into tomorrow’s market leaders, leveraging our scale and access to capital to help them realise their true potential.”

She added that this year’s level and rewards will be raised.

“We want to help take courageous entrepreneurs with seriously disruptive financial services business models to the next level. We are looking for businesses across the financial services spectrum including payments, insurance, savings and investments, advisory, data analytics and blockchain. We will consider early-stage ideas and businesses not older than two years which are 51% black-owned and managed,” she said.

Applications for AlphaCode Incubate close on 7 September and the 12-month programme begins 1 November.

AlphaCode was established by Rand Merchant Investment (RMI) Holdings, to identify key industry entrepreneurs building businesses that will change the landscape of the industry, and spur the development of other businesses, within the financial services sector.

AlphaCode is a club for entrepreneurs, intrapreneurs and businesses disrupting the financial services industry.

By: ClaraDoku/