According to a Dutch Entrepreneurial Development Bank (FMO) August 2022 press release, FMO and Startupbootcamp AfriTech are joining forces. This collaboration seeks to support technology start-ups in Africa. This collaboration will provide intensive coaching and host a demo day, where the founders of these companies will present their innovative solutions in front of investors, journalists, business leaders and industry players.
Creating job opportunities
“As part of our entrepreneurial ecosystem building efforts, FMO was keen to support Startupbootcamp AfriTech in expanding their operations into more middle-tier markets. This partnership provides an opportunity to bring more world-class acceleration to entrepreneurs striving to build businesses that create jobs and better livelihoods for their families and communities,” said Marieke Roestenberg, Ventures Program Manager.
An opportunity for African tech start-ups
This is a unique opportunity for African technology start-ups to receive investment:
“The 10 startups in the program will also receive benefits valued at more than $750,000, including credits from AWS, Google Cloud Services, and a cash investment of $18,000. Over the last 5 years, 50 African startups have completed the SBC Afritech Accelerator. 90% of the alumni are still operating and scaling, and collectively, SBC portfolio companies have raised more than $110 million in follow-on funding,” said FMO.
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