Dream VC, the first program to help African investment talent, has set a new record for prospective entrepreneurs from all over the continent who applied.
With more than 4,000 applications in three cohort cycles, Dream VC is changing the African venture market and exciting investors and entrepreneurs.
Since it started in 2021, the program has increased and attracted more and more people each year. In its first year, Dream VC got over a thousand applications (1002), which shows that the program is off to a good start. The following year, the program’s appeal grew even more, and 1375 people applied to both for a particular spot in the 2022 cohort.
But in the 2023 application cycle, there was a massive increase in interest because word about Dream VC had spread far and wide, and in 200many of people tried to get into both programs. This shows that the program is growing and that African entrepreneurs are becoming more interested in the venture capital scene.
One exciting thing that the data shows is how the applicants are divided by gender. In the first group of applicants, 67% were men, and 33% were women. But the following year, only 31% of applicants said they were women, a slight drop from the previous year.
Surprisingly, the 2023 application cycle saw a rise in the number of women applying, bringing the split back to what it was in the program’s early days. Once again, 67% of applicants said they were men, and 33% said they were women. This shows Dream VC is committed to promoting diversity and inclusion in the program and solving the gender imbalance in the investment world.
When you dig deeper into the data, the way Dream VC divides the applications between its two programs shows some interesting trends. The Launch into VC program got the most applications in 2022, with about 81% of candidates saying they were interested in this life-changing program.
The other 19% wanted to join the Investor Accelerator program, which shows the importance of learning essential skills and information about venture capital.
Analyzing the number of men and women in each program showed that the number of women in the Launch into VC program increased. In 2023, 33% of applicants were women, up from 29% in 2022.
During the same period, however, the number of women who applied to the Investor Accelerator program decreased from 37% to 34%. These numbers show how important it is to keep working together to encourage and help more women enter investment jobs and close the gender gap in the field.
Dream VC has changed the African venture ecosystem in a big way, as shown by its growing influence and the vast reaction it keeps getting. As the program prepares for the next generation of African investors, it stays committed to empowering diverse talent and creating a welcoming environment that reflects the continent’s strong entrepreneurial spirit.