Applications are now being accepted for the 2023/2024 edition of the Baobab Network Accelerator, which is specifically designed for African Tech Founders. As Africa’s leading accelerator, Baobab aims to provide early-stage capital and practical guidance to support founders in unlocking growth and developing world-class startups.
Baobab Network Accelerator for African Tech Founders
The program consists of a two(2)-week intensive consulting phase conducted by The Baobab Network, followed by three(3) months of hands-on support from venture partners and a network of experts and partners. To ensure that founders can continue focusing on their businesses, the entire program is conducted remotely, eliminating the need for extensive time away.
- The Baobab Network Accelerator is welcoming applications from early-stage tech start-ups throughout Africa.
- If your venture is focused on using technology to address a problem, and you have already developed a minimum viable product (MVP) with some traction, you are encouraged to apply.
- $100,000 USD Funding: The organization offers founders the necessary initial funding to ignite the growth of their company.
- Bespoke Acceleration: They have developed a rigorous and distinctive program to guarantee the success of their graduate start-ups in every group.
- A Global Network: They leverage a strong worldwide network of industry experts, mentors, corporate partners, and investors to support the growth of your business.
Internally, they evaluate the possibility of accepting a start-up into the program by pondering the following inquiries.
- Market Knowledge and Domain Expertise: Does your founding team possess a profound grasp of the market you operate in, demonstrating an in-depth understanding of customer behavior and prevalent trends?
- Ability to execute: Is your team capable of starting immediately and efficiently completing tasks?
- Grit: Is your team equipped with the determination and dedication required to overcome the challenges that come with building a company?
- Team dynamic: Are you and your co-founders actively focused on fostering a positive work environment that not only attracts top talent but also enables employees to feel a sense of engagement, motivation, and empowerment to develop and thrive?
- Purpose-driven: Does your team possess a distinct vision regarding the type of impact they aspire to create?
- Revenue generation: Has your startup clearly identified the sources of revenue, both currently and in the future?
- Traction: Is the adoption of the product showing promise? Are the key metrics for the business, such as user sign-ups and gross merchandise value (GMV), showing growth?
- Scalability: Can you replicate your success into other geographical or vertical markets?
- Unit economics: Can your business maintain financial stability by being profitable or having a clear plan to become profitable?
- Simplicity: Is the product easy for users to understand and use? Does it effectively address a problem, and is this apparent to the users?
- Clear roadmap: Does your team have a clear understanding of areas for improvement and the additional features or offerings that you would like to include?
- Data-driven: Does your team actively seek out customer feedback and use the available data to regularly update their features and offerings?
- Market size: Is the available market size significant and showing positive growth?
- Market trends: What are some favorable trends that support your start-up? What are the potential risks in this market, and how is your team mitigating them?
- Competitive landscape: Who are the major competitors in the market? How does your start-up differentiate itself from these players in a unique way?
The Baobab Network Factor
Fit: Is Baobab enthusiastic about collaborating with your start-up and team? Do they believe that your start-up would make a valuable addition to their network?
Timing: Is it currently the appropriate moment for Baobab to get involved with your start-up?
How to Apply For Baobab Network Accelerator for African Tech Founders 2023/2024
All applications and accompanying documents, including pitch decks and financial projections, need to be in English. The organization recognizes that English may not be the first language for everyone, but submitting applications in English will allow all team members to review them thoroughly.
To be eligible for the upcoming accelerator program, which starts on November 20, 2023, please ensure that you submit your application before October 31, 2023.
Click to apply here
For further information visit the official website.
October 31, 2023.
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