Meet startups at the Africa Blockchain Incubation Program 2023 in collaboration with the NEAR Foundation

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The Africa Blockchain Incubation Program continues its work by championing the adoption of innovative technology in Africa to deliver economic and transformative returns.

Through the incubation program, ABI selects and nurtures startups working on innovative ideas that use blockchain to deliver value and solve problems in Africa.

The 4-month program recently passed the midpoint. This short report highlights the various participants and components of the programme.

To mark the midway milestone, we hosted a demo and milestones in the middle of the program. During the session, startups shared the milestones they had been working on while demonstrating updates on their product MVPs to receive feedback.

It was exciting to see the progress a number of these startups had managed to start from scratch at the start of the programme.

The program started at the end of February after a shortlisting and selection of 7 startups from more than 400 applicants from across the continent.

Here are the participants in this edition of the program:

Konnadex

Konnadex offers an automated Web3 payroll and invoicing solution for companies and individuals. By harnessing the power of blockchain technology, provide a secure, transparent and efficient platform that enables individuals and businesses to pay their employees and suppliers in various cryptocurrencies.

The platform is designed to simplify the complex process of managing payroll and invoicing in the crypto world, providing businesses with a hassle-free solution that saves time and reduces costs.

Konnadex helps CFOs, operations and HR managers in crypto-native companies cut out the wear and tear of manual processes.

Also helps remote workers worldwide get paid in a remote-first organization and DAOs quickly and at fair rates.

Additionally, our platform is highly customizable, allowing businesses to tailor payroll and invoicing processes to their unique needs.

Whether you are a small startup or a large enterprise, the Konnadex solution can help you streamline your operations and stay ahead of the competition in the fast-paced crypto world.

With its innovative technology and outstanding customer service, Konnadex is committed to delivering value to its customers and helping them achieve their business goals.

Ugochukwu Okoro is the CEO and co-founder, while Livinus Umeaduma is the CTO and co-founder.

Crunch Network

Crunch Network is an innovative credit pool solution that aims to empower employees and SMEs in marginalized communities, by solving the critical problem of limited access to affordable credit due to high interest rates, strict security requirements and complex application procedures.

By harnessing the power of blockchain technology and AI integration, Crunch Network aims to revolutionize access to credit liquidity, making it faster, cheaper and highly accessible.

Since its inception, Crunch Network has gained significant traction with a community of over 6,000 members, 400 token holders, 1,000 beta testers and completed a $50,000 angel round. Crunch Network differentiates itself from competitors, such as Centrifuge and Goldfinch, through a unique borrower discount system that encourages responsible borrowing and timely loan repayment.

By targeting middle-income individuals with solid backgrounds in the cryptosphere and small businesses seeking financial support, Crunch Network aims to bridge Africa’s staggering $421 billion credit gap.

Its passionate team of seasoned professionals, boasting expertise in finance, blockchain technology and business development, is dedicated to democratizing access to credit and building a more inclusive economy for Africa.

Michael Ehiagwina and Sumaina Braimah are the co-founders,

PharmaLink

Pharmalink is a comprehensive digital platform for health data management that connects patients, pharmacies/pharmacists and doctors/hospitals by exploring proper record documentation and integration.

By creating an account on the platform, healthcare professionals and patients have access to a wide range of tools that help with record documentation and sharing across healthcare facilities that promote healthcare delivery.

Pharmalink prioritizes the security and privacy of the patient’s health information. Using their platform, patients and healthcare professionals can easily, quickly and securely access high-quality healthcare.

David Effiong and Alinafe Kaliwo are the co-founders.

Tswaanda

Tswaanda is revolutionizing the agricultural industry through its innovative platform that combines finance, trade and technology.

Its mission is to empower farmers and create a more sustainable and efficient ecosystem for agricultural production.

By leveraging blockchain technology, Tswaanda provides farmers with access to affordable financing, transparent trading mechanisms and a marketplace to connect with buyers.

Through the platform, farmers can scale their production, improve their livelihoods and contribute to food security.

What sets Tswaanda apart is its commitment to transparency, traceability and financial inclusion. Tswaanda tracks the entire supply chain, from farm to market, ensuring the integrity of transactions and building trust between farmers, financial institutions and buyers.

By digitizing and streamlining processes, we eliminate inefficiency, reduce transaction costs and facilitate seamless trading.

Moreover, Tswaanda prioritizes financial inclusion by basing its lending decisions on credit scores derived from farmers’ activities rather than traditional collateral requirements. This approach opens doors to finance for farmers who were previously underserved by conventional financial institutions.

In summary, Tswaanda is driving positive change in the agriculture industry by delivering a comprehensive solution that empowers farmers, improves trade efficiency and promotes financial inclusion.

Join Tswaanda to transform the way agriculture is financed and traded, making a lasting impact on the livelihoods of farmers and the sustainability of our food systems.

Confidence Nyirenda and Celestine Mabhunuh are co-founders.

Toropal

Toropal is a revolutionary blockchain-based platform for instant transfers to Africa.

Toropal addresses the pain points of sending money to Africa, such as high transaction fees, slow processing times and limited access to financial services.

The platform believes that financial inclusion can move humanity forward and is designed to build bridges between people in the diaspora and their families in Africa.

By harnessing the power of blockchain technology, Toropal is able to provide instant and secure money transfer services, which in turn will drive economic growth and empowerment on the African continent.

Its vision is to be the leading platform for global transfers and remittances, providing secure and instant services at no cost to customers.

Dennis Kiprono and Mercy Kiprono are the co-founders.

Kuanijom

BAgro Crop Limited is an integrated agricultural business that uses sustainable cultivation and conservation techniques to produce pure organic crops and animals.

Its e-commerce platform built on the NEAR blockchain aims to provide a seamless supply of food crops and vegetables to consumers across Africa.

Building on the NEAR blockchain helps the platform achieve presence and scalability in different countries while overcoming the barrier of currency differences.

BAgro wants to make it possible for consumers to buy products with NEAR tokens regardless of currency.

For example, 10 kg of products can be bought for 5NEAR and delivered in our countries of operation without having to restructure currency equivalents and prices.

An additional benefit of the platform is to help new and existing users to be introduced to the NEAR chain and improve its use, on our platform and in other industries.

Bless Ama Satsi and Micheal Komla Opare are the co-founders

Ladwar stock

Ladwar Stock is a revolutionary platform that enables investors to invest in livestock without physically owning the animals.

By investing in shares, investors can participate in the growth and success of livestock farms across Africa.

The platform helps farmers raise capital without incurring debt, and it also provides a unique opportunity for investors to diversify their portfolios and earn passive income.

It allows farmers to list their livestock as shares, which investors can buy for a predetermined price.

The livestock are then owned by the farmers, and investors receive a return on investment based on the performance of the farm.

This means farmers can raise the capital they need to grow their business, while investors can earn passive income without the risks and costs associated with owning physical livestock.

With Ladwar Stock, everyone wins – farmers are able to grow their businesses and create jobs, while investors are able to make money on their investments and make a positive impact in the agriculture industry.

Listed below are the mentors and exports of the incubation program:

Demilade Oluwasina

not named 20

Doro Unger-Lee

not named 22

Tarek Kamoun

not named 21

Toye Adeyemo

not named 22

Olaleye Oladimeji

not named 23

Sana Dunmore

not named 25

Llewyn Morkel

not named 24

Next step

As the program continues and draws to a close, the Africa Blockchain Institute is preparing for the DEMO day where startups will present their solutions to a physical and virtual audience of ecosystem stakeholders including investors, regulators and other interested parties. The DEMO Day event will be held on June 22, 2023 at the Kigali Convention Center in Kigali, Rwanda.

If you are an investor or stakeholder interested in attending the DEMO day, please send an email to: incubation[at]africablockchain.institute

You can also follow the development of the incubation program by subscribing to the newsletter on the website.


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