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Accelerate Africa stands out from typical one-size-fits-all accelerator programs in several ways.
Firstly, the program is limited to accepting 10 founders who will receive support from two of the top operator VCs in Africa:
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Iyinoluwa Aboyeji and Mia von Koschitzky-Kimani. Both have a track record of building, advising, investing in, and successfully exiting multiple businesses in Africa.
Secondly, Accelerate Africa’s program is tailored to meet the specific needs of founders in Africa. This includes workshops across five core areas, coaching sessions from top advisors, and support through tech, legal, and finance clinics.
Founders also have the opportunity to build a community with each other through weekly meetups in Lagos and Nairobi. In the last two weeks of the program, participants will come together to prepare for the demo day scheduled for the end of May 2024.
Notably, unlike most accelerators, Accelerate Africa does not offer funding or take equity upon admittance. However, there is an opportunity for Future Africa, their fund, to potentially invest alongside other investors after the program, providing a pre-seed or seed stage check ranging from $250,000 to $500,000, subject to the standard investment process.
Accelerate Africa believes in a diverse range of founders who can turn Africa’s significant challenges into global businesses. They have worked with founders from various backgrounds, abilities, languages, genders, ages, and ethnicities. Notably, 40% of the founders they have worked with are women, spanning different age groups and representing over 10 African countries.
The founders Accelerate Africa supports typically share certain characteristics:
1. Passionate about solving a real problem with a proven track record or traction.
2. Deep understanding of their customers and a commitment to serving them.
3. Lived experience of the problem, driving them to build a business that may seem impossible until it’s accomplished.
If you fit these criteria, you are encouraged to apply, and if you know of a founder who fits the description, nominations are also welcomed.
Deadline: February 16, 2024
