The Anglo American Foundation (AAF) and Grindstone, an accelerator known for developing high-growth businesses, have joined forces to develop a South African accelerator dedicated to helping eco-friendly business owners get off the ground.
The collaboration’s ultimate goal is to find and support 15 companies in the fields of technology and technology-enabled industries by giving them access to capital and customers. Through this partnership, sustainable practices and environmental stewardship will be encouraged, with a strong emphasis on youth employment in South Africa.
Starting in 2023, the Grindstone accelerator will offer a six-month program tailored to the needs of post-seed through Series A businesses in the green industry. This year’s accelerator will bring in 15 high-growth, innovation-driven green startups by leveraging the ecosystem and key partners.
“We are thrilled to collaborate with the Anglo American Foundation on this groundbreaking initiative. Over the past 24 months, we have seen a large increase in green economy startups applying to our programs. We have also dramatically increased the percentage of youth and female-founded businesses, with an intentional strategy to balance our cohorts from a diversity perspective,” according to Catherine Young, managing partner at Grindstone.
Successful applicants will be provided with monthly in-depth coaching sessions, a full gap assessment, and training on strategy and people, marketing and sales, funding, and valuation.
In addition to this, at the conclusion of the program, the winning company will be awarded a monetary reward.
Startups will also graduate with access to a network of possible investors and a small data room.
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