A key piece of the Fund’s overall strategy is to address skills and experience gap of entrepreneurs in the region through the Accelerator Program. An accelerator program is designed to help emerging entrepreneurs build a company and launch a product. Early-stage companies participate in “cohorts” and be exposed to a program to learn from experienced local and high value and reputable mentors that have built global technology brands that are also very hands on as would be expected by angel investors.
The Fund’s Accelerator Program will deploy relatively small amounts of capital ($25,000 to each company in exchange for about 15% equity stake- non negotiable) to a cohort of 5 startups at a time for 3 months. Applicants will be chosen through an online application and interview process but successful teams should apply with not just an idea but an initial prototype, early customers and revenue.
We are accepting the second batch scheduled to start in mid July 2013 and we are taking applications now. We welcome startup applications from all over the world who are addressing the subsaharan Africa market.
NOTE: If accepted, the startup core team members are required to be located in Nairobi, Kenya for the duration of the program at the iHub.