Silicon Valley-based VC agency 500 Global and Germany’s financial growth company Gesellschaft für Internationale Zusammenarbeit (GIZ) will prepare managers of main accelerators in Africa over the following two years to assist them set up sustainable enterprise fashions that commandeer larger affect of their ecosystems.
This system, dubbed Bootcamp for Accelerator Managers (BAM), will use project-based instructing and real-world eventualities knowledgeable by 500 World’s work operating over 80 accelerator packages throughout the globe, and GIZ’s Make-IT in Africa expertise in igniting innovation on the continent.
Fifteen accelerators from key tech hubs, together with Uganda, Egypt, Ghana, South Africa, Senegal, Nigeria, Ivory Coast, Kenya, Rwanda and Tanzania will take part in this system.
Accelerators present all-around assist to early-stage startups, together with serving to them discover product-market match, funding and entry to traders. Nonetheless, being startups too, accelerators additionally face failure because of a few challenges, together with liquidity points.
“500 World is thrilled to be working alongside GIZ to make sure that African accelerators have the instruments they should assist startups,” stated 500 World’s Africa Lead Mareme Dieng. The VC agency, beforehand an accelerator dubbed 500 Startups, rebranded to 500 World a 12 months in the past.
“500 has been investing in corporations in Africa for a decade and continues to be excited in regards to the development of the African tech ecosystem. We imagine that the following part of this evolution will probably be led by home-grown accelerators, like those becoming a member of BAM,” stated Dieng.
500 World stated the collaborating accelerators have been picked primarily based on expertise, size of existence, management positions of their markets and observe report — a few of their graduates should have raised follow-on capital.
The primary cohort will start this system on November 14, with a five-day in-person coaching to be held in Kenya, adopted by a year-long digital program.
Collaborating accelerators embody Orange Startup Studio, Westerwelle Startup Haus Kigali, Mountain Hub, Ennovate Ventures, WomHub, Africarise, Stanbic, Wennovation Hub, CTIC Dakar, Kosmos, Plug n Play, Norrsken Well being Tech Africa, Enterprise Park, MEST Africa and Development Africa.
“This program represents one other cornerstone in Make-IT in Africa’s efforts to assist African innovation on an area, pan-African and world scale,” stated head of Make-IT in Africa, Matthias Rehfeld.
“Along with our accomplice 500 World, we use a hands-on strategy to convey collectively African accelerators with seasoned coaches, whereas concurrently constructing bridges between African and worldwide networks. Past the scope of this system, African entrepreneurs and startups can profit from the perfect practices utilized by accelerators throughout the continent,” stated Rehfeld.