Startupbootcamp AfriTech adds Dutch Entrepreneurship Development Bank to the list of Cohort 3 partners of the African Startup Initiative (ASIP) Accelerator Program
1 The Dutch Enterprise Development Bank (FMO) (https://www.fmo.nl), a leading impact investor supporting sustainable private sector growth in frontier markets, has partnered with leading pan-African tech accelerator , Startupbootcamp (SBC) AfriTech (https://bit.ly/2SxNwkd), for the third installment of the Africa Startup Initiative Accelerator program (https://ASIProgram.com), which is designed to explore skills and scale startups technologies in the start-up phase in Africa.
2 Africa’s vibrant startup ecosystem requires support on multiple fronts to grow exponentially and sustainably.
3 The continent is characterized by impressive growth rates and by the end of July 2022, the continent had recorded around 370 transactions valued at over $3 billion.
4 The contribution of ecosystem catalysts such as Startupbootcamp Afritech is one of the most important factors that enable startups to grow and innovate.
5 Facilitator support is also an essential part of the development process.
6 Through the Ventures (https://bit.ly/3PMkx8h) and MASSIF (https://bit.ly/3dZcRC5) program, the financial inclusion fund FMO manages on behalf of the Dutch government.
seven FMO invests in inclusive business models and partners with brokers to provide the expertise that improves business operations and also supports a more dynamic startup environment.
8 The partnership with SBC Afritech illustrates FMO’s commitment to strengthening the African technology ecosystem.
9 Speaking on this, Ventures Program Manager Marieke Roestenberg said: “As part of our efforts to build an entrepreneurial ecosystem, FMO wanted to support Startupbootcamp AfriTech in expanding its operations into more intermediate markets. .
ten This partnership provides an opportunity to deliver world-class acceleration to entrepreneurs striving to build businesses that create jobs and better livelihoods for their families and communities.
11 FMO joins partners such as DER/FJ, AWS and Google to support the ASIP Accelerator program, which aims to support the next generation of early-stage African tech startups disrupting key industry verticals including FinTech, InsureTech, AgriTech, climate technology, e-commerce.
12 Digital health and clean technologies.
13 Taking inspiration from FMO, SBC AfriTech has also added mobility, micro-leasing and digitization of the informal economy as key areas.
14 “Particularly when it comes to our regional focus, the alignment we share with FMO is a key reason why this partnership is so important.
15 With their help, we continue our mandate of empowering founders with disruptive solutions,” says Philip, co-founder of SBC Afritech.
16 Kiracofe Once selected, participants will spend 3 months receiving intensive training through expert-led masterclasses covering the fundamentals of scaling, business model canvas and lean methodology to collection of funds.
17 The program will take place in Senegal and will end with a hybrid demo day where startup founders will present their disruptive solutions to a wide audience of media, investors, corporate partners and industry players.
18 Startups will also have access to SBC’s custom training tool, the Accelerator Squared platform, which features a comprehensive library of content, group workshops, 1:1 mentoring, collaborative sessions with entrepreneurs in-residence and invite-only discussion forums with founders everywhere. the world.
20 This is coupled with personalized support from experienced mentors and dedicated Entrepreneurs in Residence (EIR).
21 The 10 startups in the program will also receive benefits valued at over $750,000, including AWS credits, Google Cloud services, and a cash investment of $18,000.
22 Over the past 5 years, 50 African startups have completed the SBC Afritech Accelerator.
23 90% of the alumni are still in business and evolving, and collectively, SBC’s portfolio companies have raised over $110 million in follow-on funding.
24 This track record makes SBC one of the most successful startup programs on the continent, and for investors the fund has ranked among the top 5% of venture capital funds in Silicon Valley.
25 Applications for Cohort 3 will open on SBCAfriTech.com at the end of August.
26 SBC AfriTech will organize FastTrack exploration events in more than 10 countries across the continent, including Ivory Coast, Nigeria, Ghana, Kenya, Morocco, Tanzania and Ethiopia.