Now open are applications for the IBM Hyper Protect Accelerator 2023 for African Startups
Application Deadline: 30th June 2023
About the Award: IBM Hyper Protect Accelerator is an investment-readiness and technical mentorship program, run in partnership with Village Capital and IBM. The program supports impact-focused startups leveraging highly sensitive data to improve the quality of, and access to: digital, financial, and healthcare services. The IBM Hyper Protect Accelerator has already supported 146 early-stage startups across the world and is now open to applications for Cohort 6 and Friends of Hyper Protect (FoHP) Class III. Check out our past cohort companies here.
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No equity will be taken in their company by IBM or Village Capital as part of the program.
The 2023 program will expand to support more companies working on impactful Datatech products, and consist of three components:
- The IBM Hyper Protect Accelerator, HPA (Up to 15 companies): 1 year of technical mentorship from IBM (including up to $120,000 of free IBM cloud credits), access to IBM’s network & a 3 month intensive Village Capital Investment Readiness Accelerator with bespoke mentor and investor matching.
- Friends of Hyper Protect, FoHP (Up to 30 companies): 1 year of quarterly technical mentorship from IBM (including up to $120,000 of free IBM cloud credits), access to IBM’s network & 3 months of tailored business support fromVillage Capital with a focus on milestone planning and investor matchmaking.
- The DataTech for Good Coalition: A coalition on Village Capital’s Abaca platform that matches DataTech for good startups with like-minded investors and peers.
PROBLEM STATEMENT
From 2010 to 2020 the volume of data created, captured, and consumed increased by an astounding 5,000%, with 90% of all data created in the last two years. This flood of new data streams also raises potential exploitation and security issues around data exposure, and raises concerns for individuals and businesses around data protection, privacy, security, and regulatory compliance.
Digital solutions leveraging data are transforming access to essential services by improving service delivery, reducing costs, and increasing accessibility. Can data collection create more inclusive solutions that improve access without compromising individuals ownership of their data?
As the data landscape continues to evolve, businesses handling users’ personal information must act as data custodians to maintain privacy, keep client data protected, and acknowledge data ownership is the sole right of users. Without secure data ownership, clients, and stakeholders lose potential benefits from their data to businesses and restrict their ability to access better, more inclusive, and more valuable services.
Over the past four years, the IBM Hyper Protect Accelerator has worked with startups that utilize sensitive data and Personally Identifiable Information (PII) to create, improve, and increase users’ access to financial, healthcare, and other services. Solutions include unified APIs to foster financial inclusion in Africa, OpenAPIs to democratize access to affordable insurance in Latin America, blockchain-based solutions that increase financial transparency and efficiency, digital assets platforms that create opportunities for creators, and other digital solutions that touch on the intersection of technology, data, and impact.
Type: Entrepreneurship
Eligibility: Village Capital and IBM will identify, vet, and recruit 45 companies using highly sensitive personal data to increase access to digital solutions, including -but not limited to- Fintech, Datatech, Digital Assets, Edtech, Insuretch, and other solutions. The virtual Accelerator will take place between September and December 2023 and there will be continued support from IBM into 2024.
If managing sensitive data is at the core of your business and security on the public cloud is a priority for you, then this accelerator is for you! To be eligible, you must be:
- Legally incorporated as a for-profit entity
- Using Personally Identifiable Information to increase access to digital, financial, or healthcare services
- Under $10 million in yearly revenue
- Less than 10 years old
- Have good traction (this is not limited to revenue, but can include successful pilot studies, number of users, and/or strategic partnerships)
- A founder/member of the exec team must be able to commit to attending every session. (~40 hours total between September and December 2023, 3 hour sessions)
FRIENDS OF HYPER PROTECT
Village Capital and IBM will also identify, vet, and recruit 40 additional companies to join “Friends of Hyperprotect (FOH)”. Companies will receive a lighter touch Village Capital & IBM curriculum, which includes;
BENEFITS
- Up to $120,000 in IBM Cloud credits
- Up to $10,000 per month for one year
- 6+ hours of virtual training by Village Capital
- Investment readiness assessment
- Investment milestone planning
- Impact Metrics
- 1/2 group mentor sessions specific to your needs
- Village Capital coordinated mentor and Investor engagement
- Invitation to join Village Capital’s global Abaca online network, with over 1,000 investors and organizations that are supporting social entrepreneurs.
- 1-/2 mentor tailored mentor/ investor sessions
- IBM collaboration
- 2 years of technical mentorship from IBM on a quarterly basis.
- Go-to-market support
- Co-marketing and branding
- Access to the IBM network
ELIGIBILITY
Companies eligible for Friends of Hyperprotect must meet all but one of the eligibility criteria for the full accelerator program (see above). For example, the sessions may be relevant to companies that do not yet have a proven impact thesis, cannot commit to the full 40+ hours, or have less proven traction.
THE DATATECH FOR GOOD COALITION
The “Datatech for Good” coalition is a curated network of investors who are actively seeking investment opportunities in the datatech/data security space.
BENEFITS
- Invitation to join Village Capital’s global Abaca online network, with over 1,000 investors and organizations that are supporting social entrepreneurs.
- Opportunities to engage with a network of investors who are actively seeking investment opportunities in the datatech space
- Highlighted in an exclusive network of innovators that are leveraging datatech for social good.
- Notification of future Accelerator programs
ELIGIBILITY
All applicants are eligible for the Datatech for Good coalition as long as they are:
- Legally incorporated as a for-profit entity
- Using personally identifiable information to increase access to digital, financial, or healthcare services
How to Apply: APPLY BELOW
- It is important to go through all application requirements in the Award Webpage (see Link below) before applying.
- GOODLUCK
Visit Award Webpage for Details
