GrowthAfrica, a Kenyan based accelerator that helps companies seize and develop business opportunities in Kenya and East Africa, is still receiving applications to its Acceleration programme.
The objective of this 6 months' programme is to scale the ventures, develop entrepreneurial leadership, make it investment ready and then connect it with investors. The target is ambitious, committed and innovative entrepreneurs. In the end, it makes the programme very tasking and demanding.
Application is open to post-revenue, scalable and innovative ventures which seek to grow exponentially. The acceleration programme was open for applications on 24th January but will close on 12th March at midnight.
Successful applicants should expect to be led by experienced facilitators who understand the dynamics of running a business and can provide valuable insights to the selected entrepreneurs. Each entrepreneur will be teamed up with an experienced mentor and growth catalyst who walks with them through their business development journey
A team of financial modellers will aid the ventures in developing their financial models while they are being made investment ready, and lastly, peer-2-peer learning and networking with fellow entrepreneurs and leading business people supporting the programme.
However much the program is open to all sectors, it has a soft spot for the following sectors; Agribusiness, Education, IT/mobile solutions, Fintech, Renewable energy, Construction and affordable housing, Water & sanitation, Health, Manufacturing/processing and Renewable energy.
It is estimated that GrowthAfrica spends roughly USD 50,000 per participating Venture. This they expect to recover by the companies or startups they help co-create giving up 1% of their revenue, 2% of their Venture's equity and 3% of investments they help them raise. But keep in mind that they only expect the above from a company only if they help it double the revenue or triple the profits or help it raise at least USD 250,000.
Growth Africa has so far assisted 100+ startups raise over USD 42 Million in form of investments, loans and grants. In the end, this has created over 24,000 jobs by the businesses that GrowthAfrica has worked with!
Some of the Ugandan startups and companies that have gone through GrowthAfrica's acceleration programme include Amagara, SEB Engineering, Tursam Investments, Clininc Master International, Crested Superior, Pure products, location-based laundry service app Yoza and online travel booking platform, RoundBob!
To apply to the Growth Africa Acceleration programme, click here.
Note:Where they ask you "how you got to know about the programme", fill in Startup Digest Africa - SDA