The Norway-based Katapult Accelerator has opened applications for its third round, inviting African early-stage startups focused on impact-tech. This global for-profit accelerator specifically targets companies that harness exponential technologies like Artificial Intelligence (AI), Blockchain, Internet of Things (IoT), and Virtual Reality (VR) to tackle pressing social and environmental challenges.

Scheduled to take place in Oslo, Norway, the three-month program will commence in August 2018. Participating startups will benefit from extensive hands-on training, mentorship, and guidance from the Katapult Accelerator team. They will also gain access to a valuable network of leading thematic mentors and specialized expertise designed to maximize the application of AI within their businesses, alongside opportunities to connect with further capital and investors.

A key incentive of the program is the investment package. Selected startups will receive a US$150,000 investment in exchange for 8% equity in their company. After deducting a US$50,000 program fee, startups will receive a net amount of US$100,000. This financial injection is complemented by the platform created to foster significant business opportunities and help founders transform their passion into successful ventures.

Haakon Brunell, Managing Partner and Co-founder of Katapult Accelerator, proudly described the initiative as "the world’s first global for-profit accelerator focusing solely on impact and exponential technology." He noted the program's significant reach and investor interest, with 200 impact investors attending the demo-day for the first batch and 1,500 startups showing interest in the second round, illustrating the accelerator's strong market presence and commitment to addressing global issues.

Further enhancing the program's value, a select group of startups will also have the chance to participate in a one-month follow-up program in New York. This unique opportunity is made possible through Katapult's partnership with ERA, a prominent startup accelerator in New York, offering additional exposure and growth prospects. African startups aspiring to make a global impact through technology are encouraged to seize this opportunity.