Jumo ac­cepted into Google’s Launch­pad class

The Star Early Edition - - NEWS - Sizwe Dlamini

JUMO, a Cape Town-based soft­ware com­pany, has been ac­cepted into Class Four of the Google Launch­pad Ac­cel­er­a­tor.

The Google Launch­pad Ac­cel­er­a­tor lever­ages all that Google has to of­fer, to help par­tic­i­pat­ing tech com­pa­nies reach their true po­ten­tial.

It tar­gets growth-stage com­pa­nies and has in­vited them to their head­quar­ters in Moun­tain View for work­shops and net­work­ing with the Sil­i­con Val­ley ecosys­tem.

Jumo, a large-scale, low-cost fi­nan­cial ser­vices plat­form for emerg­ing mar­kets, an­nounced last week that it would be part of the lead­er­ship boot camp de­signed to help scale busi­nesses.

Jumo’s com­mu­ni­ca­tions di­rec­tor, Rus­sell Jarvis, said: “I’m pleased to tell you that Jumo has been se­lected for Google’s Launch­pad Ac­cel­er­a­tor. We are one of the first African com­pa­nies to be se­lected and the first Fin­Tech from South Africa.

“The Ac­cel­er­a­tor af­fords us a two-week boot camp at Google Head­quar­ters in San Fran­cisco from July 17 to 28, as well as six months on­go­ing sup­port and men­tor­ship plus $50 000 (R639 270) fund­ing.”

Jumo joins start-ups from Asia and Latin Amer­ica as well as peers from Africa and Europe.

Google said in a post on the Google De­vel­op­ers Blog: “In ad­di­tion to ex­pand­ing our reach, we’re also ex­pand­ing our cur­ricu­lum. We’ll help the star­tups dig deeper into ma­chine learn­ing and ar­ti­fi­cial in­tel­li­gence, to help them lever­age Google’s lat­est tech­nolo­gies to scale their apps.”

The Launch­pad Ac­cel­er­a­tor in­cludes in­ten­sive men­tor­ing from more than 20 Google teams, and ex­pert men­tors from ven­ture cap­i­tal and top tech­nol­ogy com­pa­nies in Sil­i­con Val­ley. Par­tic­i­pants re­ceive eq­uity-free sup­port, credits for Google prod­ucts, and con­tinue to work closely with Google back in their home coun­try dur­ing the six-month pro­gramme.

The Launch­pad Ac­cel­er­a­tor, which opened to African coun­tries for the first time this year, se­lects the best emerg­ing mar­ket start-ups via a rig­or­ous ap­pli­ca­tion process.

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