Browsing: African startups

• The Baobab network has called for applications for the Cohort 1, 2023 accelerator programme 
• The accelerator programme is designed to give Entrepreneurs in Africa  the funding and platform they need to take their ideas  global.
• The programme will offer start-ups $50,000 USD in funding, a three month cohort program including personalised two-week consultation sessions with tailored support, in exchange for 10 percent equity.

The Baobab Network has called for applications for the Cohort 1, 2023 accelerator programme aimed at supporting Africa’s boldest innovators to scale homegrown solutions.

The accelerator programme is designed to give Entrepreneurs in Africa the funding and platform they need to take their ideas  global.

The programme will offer start-ups $50,000 USD in funding, a three month cohort program including personalised two-week consultation sessions with tailored support in exchange for 10 percent equity.

Their venture team works with startups to accelerate growth, build capacity and unlock the …

• The Kenyan Startup ecosystem has employed 11,000 people according to the latest analysis by Disrupt Africa. 

• The Kenyan Startup Ecosystem 2022 report indicates that at least 308 tech startups were in operation across Kenya as of November 2022. 

• At least 242 Kenyan tech startups raised a combined US$1,281,918,200 between January 2015 and November 2022. 

A new report by Disrupt Africa has revealed that jobs by Kenyan startups hit 11,000 in 2022. 

The data dubbed ‘Kenyan Startup Ecosystem 2022’ indicates the jobs were created by 308 tech startups across Kenya as of November 2022. 

According to the report, these startups are also supported by a strong investment ecosystem. At least 242 Kenyan tech startups raised a combined US$1,281,918,200 between January 2015 and November 2022, a figure bettered only by Nigeria. 

By mid-November, 63 Kenyan startups had raised funding in 2022, with the country’s running total for the year standing at US$506,686,000. …

Google has committed US$6 million to support African startups as well as underserved communities on the continent.

In a statement, Nitin Gajria, Managing Director for Google Africa, and Rowan Barnett the Head of Google.org EMEA said the funding will go towards programs that will reaffirm its commitment to Africa.

The programs include a $3 million USD Black Founders Fund for African startups and a $3 million USD Google.org grant to help low-income communities develop entrepreneurial skills and funding.

The funding is expected to help African founders grow their businesses not only by providing capital but also by providing access to the best of Google resources.

At the same time, Google has also invited 15 companies from across the continent to the sixth class of the Google for Startups Accelerator: Africa program

Startup Fund

The Google for Startups Black Founders Fund Africa provides grants and technical assistance to early-stage startups led …

Access to finance has been one of the many challenges that African start-ups have been grappling with.

Bantaba, a platform that enables Startups in Africa to access talent and capital from the diaspora community by creating a link between Diaspora and African Start-ups has moved to bridge this gap.

The platform which looks to help boost African businesses leveraging technology to address the continent’s various challenges (tech based businesses) – fintech, healthtech, ecommerce, logistics, software, agriculture to investors.

Also Read: East African businesses adopt digital solutions amid covid-19

“Entrepreneurs can access Bantaba’s services by signing-up to our platform. The sign-up can be done on our website: BANTABA. When registering, the Startups will be able to describe what problems they are solving, what impact their solution is having on the community and more importantly what their needs are in terms of talent and capital.” Said Co-Founder & CEO of Bantaba, Lamin …

African startups raised $2b in funding rounds last year according to the Partech Africa 2020 report.

“The Partech Africa report tracked 250 rounds raised by 234 start-ups compared to 164 rounds by 146 start-ups the year before, representing 52 per cent growth year-on-year growth in deal count,” the report reads in part.

It also noted that the early-stage rounds of seed and Series A investments were extremely dense, signifying investors’ increased confidence in taking early bets in Africa.

Startups look to investors to acquire capital since they are usually alienated by financial institutions.

The process is sequential, divided between pre-seed funding, seed funding, series A, B and growth. according to data, Investors continue to invest majorly in startups at the growth stage, which attracted $912m from 19 rounds compared to seed funding which drew up $151m from 127 rounds.

Also Read: Crowdfunding: Bank Borrowing Alternative For Start Ups

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