INTERESTED STARTUPS APPLY BY JUNE 12, 2017
The World Bank has launched a five-month accelerator program with the design of supporting 20 of the most promising digital startups in Africa. The World Bank group believes that digital startups are significant drivers of innovation in Africa, and are looking to help digital startups to create an integrated ecosystem so that new technologies can be scaled and spread across the continent. The induction of such a program is timely as there is an increasing interest in Africa’s digital sector and its growth. The program is called XL Africa.
Twenty startups of those that apply will be chosen to participate in the acceleration program. These companies will participate in a two-week residency in Cape Town South Africa. During this period, they will have the opportunity to interact and learn from mentors, peers and local partners. The two weeks will conclude with a Venture Showcase in which the entrepreneurs will present their business models to an audience of corporations and investors. The program will help the 20 startups attract early stage capital between a quarter (1/4) of a million and 1.5 million dollars.
Among others, the privileges that these startups will receive include mentoring from both local and global experts, access to potential corporate partners and investors, and increased regional visibility. All of this is in addition to the learning these startups will acquire from a tailor-made curriculum.
XL Africa will collaborate with a number of prominent investment groups and corporate groups including, Thomson Reuters, AngelHub Ventures, Nest Africa, African Business Angel Network and Orange.
Application are open for interested companies. Interested startups can apply at this link by Monday June 12, 2017.
Source: Biztech