Incubators and accelerators play an essential role in driving fintech innovation. A startup incubator provides a collaborative environment for early-stage companies, typically housed in a central workspace, where they receive crucial support through seed funding, workspace, mentorship, and training. These non-profit organizations are often associated with universities and business schools, welcoming participation from students, alumni, and community members alike.

On the other hand, an accelerator serves as a platform for innovative firms to explore new technologies and harness fintech advancements to solve real-world problems. Through collaboration with accelerators, companies can engage directly with industry experts to apply their technology to address pressing issues. Although “accelerator” and “incubator” are sometimes used interchangeably, they are distinct entities: accelerators are geared towards driving business development, while incubators focus on nurturing innovative business ideas.

Africa’s Top 21 Startup Accelerators

1. Africa Mobility Initiative

2. Akro Accelerate

3. Antler

4. AUC Venture Lab

5. Co-Creation Hub

6. Cortex Hub

7. Falak Startups

8. Founder Institute

9. Greenhouse

10. Google For Startups

11. HSeven

12. Innovation Edge

13. Innovate Ventures

14. MEST Africa

15. mlab

16. Orange Fab

17. Smart Lab

18. Startupbootcamp Afritech

19. Startup Reactor (by innoventures)

20. Startup Wise Guys

21. The Baobab Network