Are you an early-stage African tech startup looking to scale rapidly? The Baobab Network is now accepting applications for its 2024 Accelerator Program, offering an incredible opportunity for entrepreneurs across the continent to secure $100,000 in funding alongside intensive business support.
What the Program Offers
The Baobab Network Accelerator is tailored to equip early-stage startups with essential resources, ensuring they’re set up for success. The program kicks off with two weeks of intensive consulting, where participants receive strategic advice and insights to tackle key business challenges. Following this, startups engage in a three-month period of hands-on support from Baobab’s venture partners, experts, and an expansive network of industry leaders—all of which are aimed at driving rapid growth.
The program’s unique remote format allows founders to remain fully immersed in their business operations, without needing to step away for long periods. The combination of funding, consultancy, and networking makes this a transformative experience for any participating startup.
Benefits of the Program
Each startup selected for the Baobab Network Accelerator Program will receive:
- $100,000 in equity funding, giving startups the capital needed to fuel growth and expansion.
- Hands-on, expert-led consulting over two weeks, designed to pinpoint and resolve critical issues.
- A three-month engagement with ongoing guidance from venture partners and a diverse network of professionals.
- Lifetime access to Baobab’s powerful network of investors, mentors, and other key players in the tech ecosystem.
One of the standout aspects of this program is that Baobab Network does not take a board seat, enabling fast decision-making and allowing startups to retain control over their operations.
Who is Eligible to Apply?
To be eligible for the 2024 Baobab Accelerator, startups must meet the following criteria:
- Tech-oriented startups based in Africa, leveraging technology to address significant challenges in sectors like fintech, cleantech, data analytics, mobile payments, and more.
- Startups should have a Minimum Viable Product (MVP) and show signs of early traction, such as customer sign-ups, user engagement, or revenue.
- Idea-stage startups are also eligible, provided they can demonstrate validated market demand, such as a strong interest from potential users or evidence of customer willingness to pay.
- The program is open to for-profit organizations, aiming to make an impact through innovative technological solutions.
Equity Terms
In exchange for the funding and comprehensive support provided throughout the accelerator, Baobab Network takes a 12.5% equity stake in each startup. This equity model ensures that the network is fully aligned with the startups’ success, without burdening the founders with excessive control or oversight.
Application Process
All applications must be submitted in English. If you’re ready to take your startup to the next level, the deadline to apply for the 2024 cohort is October 2, 2024.
This is a golden opportunity for Africa’s most promising startups to access world-class mentorship, funding, and growth tools, all designed to accelerate their business trajectory.
Don’t miss out on the chance to transform your startup!
