Endeavor Kenya, a non-profit organization that supports high-impact entrepreneurs, has announced the launch of the ScaleUp Program, its inaugural cohort-based initiative for high-growth founders in East Africa.
The program aims to identify ten high-potential ventures and provide them with the necessary resources and network to accelerate their growth trajectory.
Over the course of 28 months, selected entrepreneurs will gain access to the Endeavor ScaleUp methodology, which encompasses expert mentorship, immersive business development training, fundraising support, and a strong peer network of seasoned entrepreneurs.
This comprehensive approach is designed to empower founders to overcome the challenges and seize the opportunities that come with scaling their businesses.
“Scaling high-growth companies is crucial for fostering a vibrant and thriving entrepreneurial ecosystem in East Africa,” stated Maryanne Ochola, Managing Director of Endeavor Kenya.
“The Endeavor ScaleUp Program is a catalyst for ambitious local founders to leverage our global expertise and curated services to propel their businesses to new heights.”
To be eligible for the first cohort, early-stage businesses must be headquartered in East Africa, operate with a tech or tech-enabled business model, and have a demonstrable track record of success.
Applicants must also have achieved a minimum of $500,000 in annual recurring revenue, demonstrate year-on-year growth of at least 50%, and be actively contributing to job creation or providing responsible financial services at scale.
The Endeavor ScaleUp Program is a testament to Endeavor Kenya’s unwavering commitment to fostering a thriving entrepreneurial landscape in East Africa.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Egyptian ad-tech startup dKilo has raised $3.2 million in seed funding to develop new methods for brands to reach consumers and expand into the Saudi Arabian market.
Orca, a South African startup tackling fraud in emerging markets, has successfully secured $550,000 in a pre-seed funding round.
In a pivotal move to address the gender funding gap in Africa’s entrepreneurial landscape, Village Capital and Standard Chartered Bank have joined forces to launch a pilot financing facility.
© 2021 Empower Africa. All rights reserved.