Key Developments
Africa's "Y Combinator", Accelerate Africa, Unveils First Cohort of 10 Startups
Accelerate Africa, a new accelerator program designed to propel early-stage African businesses has unveiled its inaugural cohort after four months of operation.
The program, led by Iyin Aboyeji, founder of Pan-African VC firm Future Africa, and Mia von Koschitzky-Kimani, general partner, aspires to become the “Y Combinator of Africa.”
“We previously focused on pre-accelerator programs to prepare founders for established accelerators like Y Combinator and Techstars,” Aboyeji said.
“We previously focused on pre-accelerator programs to prepare founders for established accelerators like Y Combinator and Techstars,” Aboyeji said.
“However, we recognized the need for a program specifically tailored to the African landscape, prompting us to enter the accelerator arena ourselves.”
The first cohort boasts geographical diversity, with the ten startups hailing from Nigeria (6), Kenya (2), Egypt (1), and Eswatini (1).
The first cohort boasts geographical diversity, with the ten startups hailing from Nigeria (6), Kenya (2), Egypt (1), and Eswatini (1).
These companies represent various sectors critical to Africa’s development, including artificial intelligence (AI), clean technology (cleantech), property technology (proptech), health technology (healthtech), automotive technology, human resources technology (HRTech), logistics, and financial technology (fintech).
Following a demo day at the Lagos Marriott Hotel, decisions regarding pre-seed or seed funding will be made for select startups.
Following a demo day at the Lagos Marriott Hotel, decisions regarding pre-seed or seed funding will be made for select startups.
Angel investors and venture capitalists will provide investments ranging from $250,000 to $500,000.
Here’s a glimpse at the innovative startups comprising Accelerate Africa’s first cohort:
Here’s a glimpse at the innovative startups comprising Accelerate Africa’s first cohort:
- Afriskaut (Nigeria): An AI and data startup harnessing proprietary technology to identify Africa’s top sports talent.
- Agrails (Kenya): A cleantech company leveraging AI to build data systems that empower organizations to address and capitalize on climate risks and opportunities across Africa.
- Campus HQ (Nigeria): A proptech startup simplifying workspace discovery, setup, and management for mid-to-large-sized teams, essentially creating an “Airbnb for workspaces.”
- CDIAL (Nigeria): An AI company developing a conversational AI fluent in African languages.
- Checkups (Kenya): A healthtech startup offering affordable and accessible healthcare to underserved communities through micropayment options.
- Flickwheel (Nigeria): An autotech startup providing on-demand auto repair credits, vetted technicians, and automated repair tracking for efficient vehicle care.
- Juiceme (Eswatini): An HRTech startup offering blue-collar workers access to their earned wages via WhatsApp before payday, particularly for emergencies.
- Messenger (Nigeria): A logistics startup empowering delivery drivers to become entrepreneurs through income and ownership opportunities, including vehicle financing to own their delivery vehicles.
- PipeOps (Nigeria): A DevOps provider offering a suite of tools and services to help companies with limited cloud expertise set up, deploy, and manage cloud-based applications.
- Settle (Egypt): A fintech startup automating B2B payments, enabling clients to streamline payments to all suppliers with ease.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
You may also like...
Kenyan startup Peach Cars secures $5 million seed investment
Kenyan startup Peach Cars KE has secured a $5 million seed investment to fuel its ambitious plans of transforming the automotive industry in Kenya.
June 23, 2023
Vantage Capital Invests €14 Million in Moroccan Agriculture Firm SPMS
Vantage Capital, a leading African fund manager, has announced the closing of a €14 million mezzanine investment in Société de Production Maraîchère Samir (SPMS), a Moroccan agricultural company.
September 26, 2024
Sanari Capital Invests $5 Million in Energenic Holdings to Boost Energy Solutions in Africa
South African private equity firm Sanari Capital has announced a significant R87.5 million (approximately $5 million) investment in Energenic Holdings, a leading provider of energy generation products and solutions operating in over 32 African countries.
November 18, 2024
