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Shs92m up for grabs in Baobab’s startup programme

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The 2019 Baobab Network accelerator is open to applicants with game-changing business and innovative ideas.

The startups that will pitch the best ideas will get US$25,000 (about Shs92.6 million) in funding and a platform for scaling.

The Baobab Network accelerator was rolled out in 2016 and it has since, according to DisruptAfrica, worked with 27 startups from Ghana, Tanzania, Kenya, Rwanda, Uganda, the Democratic Republic of Congo (DRC), Zambia and South Africa.

The accelerator develops customized programs according to a company’s structure; in the initiation stage, which lasts for a week, you’re exposed to global business and industry experts.

After this, a startup is assigned a dedicated Baobab Venture Partner for 24 months to help in escalating growth and designing a plan for entry into the market and attracting investment.

Must read: HP unveils its first physical tech & business incubator in Africa

Apart from the aforementioned funding, startups that qualify for the Baobab Network accelerator also have access to an investor network of over 100 venture capital and impact funds, according to DisruptAfrica.

You also have an opportunity of partnering with global brands like Amazon, Accenture, L’Oréal, Unilever and Johnson & Johnson.

“The goal of our new look accelerator is to raise follow on funding for every startup within 18 months, leveraging the Baobab Network’s global community of VCs, angels and corporates,” said Rich Sears, head of ventures at the Baobab Network, according to DisruptAfrica.

The first phase of the Baobab Network accelerator will kick off in Addis Ababa, Ethiopia, on January 28. You can apply here.

Related:

Six Ugandan startups to benefit from World Bank project

Uganda’s M-Scan wins 2018 TechCrunch Startup Battlefield Africa

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