A B2B startup accelerator in Europe, Startup Wise Guys, is expanding its programs to Africa.
The accelerator currently has a program in Namibia, organized in collaboration with StartUp Namibia and Key2Investors, and plans to bring four more programs to the continent by 2022, with a particular focus on East and West Africa, where innovation is growing and ecosystem capacity building can have the greatest impact.
StartUp Namibia, which began operations in the midst of the pandemic in 2020, is on a goal to expand Namibia’s startup environment and has already completed numerous programs focusing on broad-based training.
StartUp Namibia chose local founders based on their innovation, market size, development potential, and aptitude proven in previous local initiatives.
The majority of the participants are B2B entrepreneurs in fields like agritech, legal tech, and finance that are trying to raise up to N$600,000.
“Because of the pandemic, we were forced to go digital with our programs, and we observed an extraordinary number of African entrepreneurs interested in participating remotely. For a long time, Africa had been on our radar, but distance and logistics made it impossible. We are now able to provide on-the-ground startup acceleration, supported and led by digital platforms, in collaboration with our partners. Our focus is on African countries, where our early-stage startup capacity-building skills will have the most impact,” stated Cristobal Alonso, Global CEO of Startup Wise Guys.
“Despite Namibia’s tiny population and market, we have strong neighboring markets, making the country an ideal launchpad for iterating concepts and scaling into other markets around Africa. We believe Namibia has a unique atmosphere and ecology, which is why it’s so important to build capacity with the help of organizations like Startup Wise Guys,” says Kirstin Wiedow, GFA Team Leader of StartUp Namibia.
“We’re excited to begin off our cooperation with Startup Wise Guys in Africa with a program that will benefit Namibia’s startup ecosystem,” says the company. We hope to have a significant impact on all of the founders involved, and for this to serve as a blueprint for future programs in Namibia, Africa, and beyond,” said Petra Wolkenstein, founder of Key2Investors.launchpad, which helps entrepreneurs iterate ideas and scale into new markets across Africa.
Cristobal Alonso, the Global CEO of Startup Wise Guys, will focus on pitching best practices, bringing with him a team that has led a number of portfolio firms to success, including StepShot, which was bought by UiPath in 2019.
The three-month program, which ends in June, is now supporting 24 local startup founders, with a focus on acquiring capital and the foundations of running a venture-backed company.
Read more on Tech Gist Africa:
Norrsken Impact Accelerator 2021 will grant $1.1 million to 11 African startups