Baobab Network is providing founders with the early-stage capital and hands-on support they need to unlock growth and build world-class startups.
Each accelerator programme starts with 2 weeks of intensive consulting from The Baobab Network, followed by 3 months of hands-on support from the venture partners and the network of partners/experts.
The programme is remote to ensure founders are not taken away from their businesses for extended periods of time.
Benefits of participation
- They help build and fund Africa’s high-potential startups
- $100K to kickstart your company’s growth
- A transformative accelerator & hands-on venture support
- No board seat, fast decisions, no fees, lifetime access to the networks
Eligibility Criteria
- They are a tech accelerator for Africa. They don’t mind if your target market is outside the continent, as long as you are based in Africa and are led and run by an African team.
- They prefer to see tech-oriented startups that have built a minimum viable product (MVP) and have some early traction. If you are at the idea stage, you should at least have validated market demand for the product or service.
- The validation can be in the form of sign-ups from users, a client waiting list that can be verified, offline purchases and other types of evidence confirming that customers are willing to pay for your product.
- They will consider any startup that uses technology to solve crucial problems around them. They are open to other tech-enabled solutions such as the Internet of Things (IoT), Artificial Intelligence (AI) as well as using other existing technology tools to create efficiencies.
- They only work with for-profit organisations.
- They generally prefer teams to solo founders but are still open to applications from those who don’t have co-founders.
- They can only back tech-creating or tech-enabled businesses with the potential to scale. This would usually not include agencies that provide custom website/app development or digital marketing services.
- They take 12.5% equity in each startup in exchange for the support and services offered throughout the acceleration programme along with the $100,000 USD investment.
- Applications and all documents (pitch decks and financial projections) should be in English.
How to apply
Click here to apply. The deadline for application is Tuesday, October 31, 2023.
