AlphaCode Shuts Down Its ‘AlphaCode Incubate Programme’ Permanently
AlphaCode Shuts Down Its ‘AlphaCode Incubate Programme’ Permanently. South African financial services club AlphaCode took to LinkedIn to announce that it will no longer offer incubation services to startups as it is shutting down its AlphaCode Incubate Programme permanently.
The post read, “Hi AlphaCode Community! AlphaCode no longer offers incubation services and will not run the AlphaCode Incubate Programme again.We encourage you to apply to the Southern Africa Innovation Bridge Portal FinTech Challenge, which provides similar support to the Incubate Programme.”
AlphaCode is a club for financial services entrepreneurs, which is supported by a physical workspace and virtual platform. It is seeking to create a next-generation financial services eco-system by bringing together entrepreneurs, intrapreneurs, industry experts and thought leaders to connect, share knowledge, and ultimately reshape the financial services industry. The organisation is powered by Rand Merchant Investment Holdings (RMI) and Rand Merchant Bank Holdings (RMBH); strategic managers of a multi-billion dollar financial services portfolio which includes FirstRand, Discovery, OUTsurance, MMI Holdings and Hastings plc.
RMI has recognised that the core business of its underlying portfolio companies is being threatened by new, disruptive ventures and made a decision to proactively seek new, disruptive business models to invest in. As a result, AlphaCode was established to identify, partner and grow next-generation financial services entrepreneurs building sustainable scalable businesses in the financial services industry.
