Accelerate Africa has announced that applications are open for the second cohort of its accelerator program, aimed at pre-seed and seed-stage startups tackling some of Africa’s biggest challenges. The program is designed to support founders with the resources, mentorship, and networks necessary to scale their businesses globally, targeting $1 million in revenue within 12-18 months post-completion. Founded by Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave, and Mia von Koschitzky-Kimani, Accelerate Africa is not your typical accelerator. It focuses on providing tailored support to African founders building high-impact businesses that address the continent’s most critical challenges. Over an 8-week program, selected startups will receive hands-on mentorship, access to workshops on key business areas, and valuable connections to industry experts and investors. The accelerator’s founders bring extensive experience, having guided companies like Moove, Daystar Power, and DukaConnect through growth and funding stages. Many of these companies have scaled to become major players, achieving multimillion-dollar valuations or being acquired by global giants like Mastercard and Shell. Accelerate Africa distinguishes itself by focusing on five core areas: Storytelling and go-to-market strategy Product development Team building and leadership Fundraising preparation Legal and financial support The cohort will also benefit from clinics and office hours with top experts, as well as peer collaboration through in-person events. The program culminates in a Demo Day where founders pitch their startups to investors. While Accelerate Africa does not offer upfront funding or take equity upon acceptance, the potential for investment from Future Africa or other investors is available post-program, with checks ranging from $250,000 to $500,000. Accelerate Africa is looking for founders who are deeply passionate about solving real problems and can demonstrate traction or a clear track record. They emphasize diversity, having worked with founders across Africa, with participants ranging in age from their 20s to 60s, 40% of whom are women. The ideal applicants are those who: Have a deep understanding of their customers and are driven by a personal connection to the problem they are solving. Are working on challenges that are difficult to tackle but have the potential to scale globally. Startups from all sectors are encouraged to apply, but you can check out the program’s Request for Startups (RFS) page to see the specific themes and focus areas for this cohort. To apply, visit the Accelerate Africa website and submit your application by the September 13, 2024 deadline. Ensure your application clearly highlights your traction, team, and product, as competition is expected to be tough, with only 10 startups selected for the program. Click here to apply.What is Accelerate Africa?
What Does the Program Offer?
Who Should Apply?
How to Apply
Play audio
No comments