Startupbootcamp Afritech and the DER.FJ has started a program in Dakar called “Startup Accelerator.” They are working together to invite top technology companies from all over Africa.
This startup cohort will receive assistance in essential areas such as finance, management, and marketing. While the African continent is experiencing exponential growth in the startup sector, fledgling businesses require funding to grow efficiently and fulfill market expectations.
Africa is getting more and more attention from investors. In the first half of 2022, over 1,200 investors took part in funding deals for African startups. Together with DER/FJ, Startupbootcamp Afritech wants to give startups in Senegal the best chance to build the “Factory of champions.”
Startupbootcamp gives tech startups access to a unique acceleration tool through an international network of partners, investors, and mentors from different business fields.
Ecosystem Builder Carine Vavasseur says that the goal was to create not only a national dynamic with a program called “Factory of Champions” but also to be able to run such a startup accelerator program from Dakar to all four parts of Africa.
In this relationship between Startupbootcamp Afritech and the General Delegation for Rapid Entrepreneurship for Women and Young People (DER/FJ), three groups of eleven startups were helped.
This pan-African, multi-company mentoring-based acceleration program was designed for Africa’s top technology companies. It allowed young entrepreneurs from different African countries to share their experiences and talk with people from the investment world. This helped startups become more stable and attract more capital.
Seydina Issa Laye Seck, who started Limawa, a company that gives refrigerated trucks an option to use fuel to power their compressors, thinks that entrepreneurs need more than money to succeed.
To grow, an entrepreneur needs to raise money and find backers, but training is also crucial,” he says. Even though he thinks looking for funding is essential, he believes it’s even more critical for businesspeople to get training to run their businesses better and help them grow.
The goal of WIC Capital, an investment fund for women businesses in West Africa, is to help companies that make a big difference, create jobs, and have a lot of room to grow.
Evelyne Dioh SIMPA, Executive Director of WIC Cap, said, “For us, the type of company in which we invest must have a big impact, create jobs, and have a lot of growth potential.”
The partnership between Startupbootcamp Afritech and DER/FJ gives African startups a big chance to get the training, funding, and support they need to succeed and make a big difference on the African continent.