2023 Accelerate Africa For African Entrepreneurs
Exciting news for African entrepreneurs! Prosper Africa and Future Africa have teamed up to launch the Accelerate Africa program for 2023. This program is designed to empower early-stage African founders by providing them with intensive guidance, mentorship, and valuable resources. In collaboration with Prosper Africa, Future Africa will support dynamic entrepreneurs throughout a 7-week pre-accelerator program.
This partnership between Prosper Africa and Future Africa fulfills the commitments made by the U.S. Government during the U.S.-Africa Leaders Summit. As part of this commitment, Prosper Africa pledged $170 million in the Summit’s Deal Room to boost U.S. investment in Africa and increase African exports to the United States by $2 billion over the next five years. To achieve this goal, they have established the Prosper Africa Catalytic Investment Facility, which aims to facilitate investment and promote economic growth in the region. This partnership demonstrates a strong commitment to supporting African entrepreneurs and fostering economic development in Africa. The aim is to prepare these entrepreneurs for global scale by equipping them with the necessary skills and knowledge to excel in renowned accelerator programs such as Y-Combinator, 500 Startups, and Techstars. By participating in this program, entrepreneurs will be strategically positioned to attract increased investment funding and build stronger, more resilient startups. It’s an incredible opportunity for African entrepreneurs to unlock their full potential and thrive on the global stage.
Future Africa is one of five African asset managers collaborating with the U.S. Government through the Prosper Africa Catalytic Investment Facility. With an initial $6 million in U.S. Government funding, these partnerships aim to mobilize over $200 million in private capital to support African innovation and entrepreneurship. In conjunction with the U.S. Agency for International Development (USAID), Prosper Africa’s investment facility focuses on investing in African funds that have a pipeline of growth-oriented businesses across the continent. By leveraging private capital and mitigating risk for U.S. investors, this initiative expands its impact and encourages greater investment in high-growth, small, and medium-sized businesses in Africa. The emphasis is on businesses that contribute African solutions to global challenges, fostering scale, sustainability, and economic growth across the continent.
Requirements and eligibility criteria for 2023 Accelerate Africa For African Entrepreneurs:
Accelerate Africa (A2) is dedicated to equipping early-stage African founders with the necessary tools for global expansion. We work closely with partners who can offer them valuable opportunities for growth, including access to funding, customers, and distribution channels. These partners range from renowned Global Technology Accelerators such as Y Combinator, 500 Startups, and Techstars to Governments, Global Technology Companies, and Entrepreneur Support Organizations. By connecting our entrepreneurs with these influential networks, we aim to catalyze their trajectories and propel them toward international success.
Application Procedure for 2023 Accelerate Africa For African Entrepreneurs (How to apply);
An interested applicant who wants to apply for 2023 Accelerate Africa For African Entrepreneurs, should check here to apply.
Application Deadline: May 19, 2023
For more information visit the official website