Set up late 2019, the Seed Fund by Digital Africa aims to provide initial funding to Africa’s digital startups. It targets:
Digital startups
via 4 programs managed by Greentec Africa Foundation, African Business Angel Network, Investisseurs et Partenaires and MercyCorps Ventures.
Eligibility criteria include:
- Companies registered and based in Africa.
- Companies offering an innovative digital product or service that contributes to one or more Sustainable Development Objectives.
- Companies meeting the needs of an initial customer base and potential partners.
- Presentation of a business model outlining growth prospects.
- Employment of an experienced team with expertise in various fields.
Incubators and accelerators
via 2 programs managed by:
Afric’innov is an African association based in Dakar (Senegal). Convinced that entrepreneurs are the builders of tomorrow’s Africa, Afric’innov is committed to enabling them to develop high-potential businesses as quickly as possible! To this end, Afric’innov has created a dynamic community of nearly 100 African innovative entrepreneurship support structures (AIES). It develops and provides them with all the tools and resources necessary to effectively support entrepreneurs on the continent.
AfriLabs, founded in 2011, has created a community of 600 hub managers across Africa and is rolling out an intensive programme to build their capacity. The association focuses on strengthening hubs that contribute to the growth of the African innovation ecosystem and increase the percentage of successful startups.
€15 million has also been allocated to Africa’s early stage digital startups through a network of partners in 45 countries across Africa. Finance ranging from €25 000 and €300 000 is available in the form of loans, interest-free loans, subsidies, etc., depending on the project and circumstances.
