Prosper Africa / Accelerate Africa Initiative for African Entrepreneurs 2023

Today, Prosper Africa and Future Africa announced the launch of the Accelerate Africa program. The program provides intensive guidance, mentorship, and resources for early-stage African Founders.

In partnership with Prosper Africa, Future Africa will support dynamic African entrepreneurs as they embark on a 7-week pre-accelerator program that will prepare them for global scale through accelerator programs such as Y-Combinator, 500 Startups, and Techstars. The program will position these entrepreneurs to raise more investment funding and build more robust startups.

This partnership delivers on the U.S. Government’s commitments from the U.S-Africa Leaders’ Summit to increase investment on the continent. Prosper Africa committed $170 million in the Summit’s Deal Room to increase U.S. investment in Africa and African exports to the United States by $2 billion in the next five years, including through the new Prosper Africa Catalytic Investment Facility.

Future Africa is one of five African asset managers partnering with the U.S. Government under the new Prosper Africa Catalytic Investment Facility. With $6 million in U.S. Government funding, these first five partnerships expect to mobilize more than $200 million in private capital to fuel African innovation and entrepreneurship. In partnership with the U.S. Agency for International Development (USAID), Prosper Africa’s new Catalytic Investment Facility invests in African funds that have a pipeline of growth-oriented businesses across the continent.

The investment facility unlocks private capital to drive scale and sustainability while decreasing risk for prospective U.S. investors. This approach deepens the initiative’s reach and catalyzes greater investment into high-growth, small and medium-sized businesses across the African continent, with a focus on those that are advancing African solutions to global challenges.

About Prosper Africa

 Benefits

• One-on-one application support by global accelerator alumni from Africa: You will work closely with a group of star mentors who have themselves been accepted to and gone through a global accelerator. They will provide active guidance and soundboard your thoughts as you build out your application.
• A curated community of leading applicants going through the process together: Building a startup can be isolating and challenging, but collaborating with other likeminded people lessen this burden. This includes tapping into our local and global network that spans over 300 investors and over 100 startups to learn from and exchange knowledge.
• 3. Strategic investment from leading African VCs to further catalyze your journey: We will make strategic introductions and recommendations to our global network of co-investors. At the culmination of our program, you will also have the opportunity to pitch your business to leading African VCs during our Demo Day. Additionally, our Investment Committee will invest $75,000 for 5% equity in select cohort startups.

Requirements

How to Apply