South African township-savvy entrepreneurs can now apply to a new accelerator programme, courtesy of Akro Accelerate (Pty) Ltd in partnership with Imvelo Ventures (Pty) Ltd. The digital accelerator offers to create new opportunities to black-owned and founded township startups.
Here Is What You Need To Know
- Imvelo Ventures is a black-owned and black-managed VC and an approved SARS section 12J Venture Capital Company. The VC supports startups at their different stages of development, provided they hold high-growth potential.
- According to the organisers of the programme, the accelerator looks out for quality startup founders who are integral to any progress for a startup. Consequently, the accelerator ensures that Founder Growth is an essential pillar to the work they do with startups.
- Akro’s motto is ‘Think Bigger, Build Better, Move Faster’ and the VC says this isintegral to everything they do and that they understand the most valuable way to move a startup forward through practical, hands-on assistance.
The accelerator programme is for South African startups and begins on 7 September 2020, and is broken down into three elements:
- 20 startups will join a filtered eight-week coaching and mentoring programme.
- 10 startups will be offered a more in-depth, high-touch intervention, which culminates in Demo Day on 6 November 2020, where each of these 10 startups has the opportunity to pitch for one of three grants to the value of R100 000. These grants will be awarded at the sole discretion of Imvelo Ventures.
- After Demo Day, the 10 finalist startups will continue with ‘light touch’ assistance for a further 12 weeks.
Please note that all startups applying must have access to technology and data whereby they can access group webinars.
Applications for this progamme close on 21 August 2021. Includes a chance to win 1 of 3 R100,000 ($5.7k) in grant funding (at the sole discretion of Imvelo Ventures)
To apply click here.
“GetFundedAfrica is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation“
In this episode of GFA-Attract, GetFundedAfrica’s Co-Founder, Debo Omololu discusses with Yassine Oussaifi, a Tunis-based Venture Capital Partner at AfricInvest Group. AfricInvest has $1.5 billion in funds under management and is one of Africa’s largest venture capital firms. Yassine loves water sports and basketball and tries to relax at beach locations.