Applications for the Baobab Network Accelerator 2023 are now open. The Baobab Network Accelerator seeks to invest in the next generation of African tech entrepreneurs.
The Baobab Network is looking for scalable technology solutions, for-profit enterprises with purpose, and early-stage companies built in Africa.
The Baobab Network prefers to see tech-oriented start-ups that have built a minimum viable product (MVP) and have some early traction. If applicants are at the idea stage, they should at least have validated market demand for the product or service. The validation can be in the form of sign-ups from users, a client waiting list that can be verified, offline purchases, and other types of evidence confirming that customers are willing to pay for the product.
Each accelerator program starts with 2 weeks of intensive consulting from The Baobab Network, followed by 3 months of hands-on support from their venture partners and their network of partners/experts. The program is remote to ensure founders are not taken away from their businesses for extended periods of time.
Venture Partners are individuals with relevant startup experience across Africa. They are responsible for managing the start-up’s acceleration program and work remotely to provide strategic advice and hands-on support. The Venture Partner will help leverage the skills and experience of the wider Baobab Network team and our global network of corporate and investment partners.
The Baobab Network works with early-stage tech start-ups across Africa. What does that mean? If anyone’s solution creates or relies on technology to solve a problem, and has an MVP and a bit of traction they are welcome to apply.
The Baobab Network don’t expect applicants to be turning a profit at this stage, but revenue is expected as people paying for the product tell them that they are solving a real market problem.
The Baobab Network is a tech accelerator for Africa. They don’t mind if the target market is outside Africa, as long as that is based in Africa and is led and run by an African team.
The Baobab Network provide as much advice and support as it can but at the end of the day, they trust their founders are best placed to steer their companies.
- $50,000 USD Funding in exchange for 10% equity of the business.
- An intensive, unique program to ensure that graduate start-ups from every cohort go on to be successful.
- Access to a powerful global network of experts, mentors, corporate partners, and investors to help grow business.
- Early-stage tech start-ups across Africa.
- A solution that creates or relies on technology to solve a problem, and has an MVP and a bit of traction.
- Tech-enabled solutions such as the Internet of Things (IoT), and Artificial Intelligence (AI) as well as using other existing technology tools to create efficiencies.
- Tech-creating or tech-enabled businesses with the potential to scale.
- Must be based in Africa and are led and run by an African team.
- The program is open to applications from those who don’t have co-founders.
- Application has to be made through an online application form available at the apply link.
- A couple of supporting documents (i.e. investment deck, cap table, traction document, etc.) is required for the application process to be complete.
- Applicants are welcome to apply more than once if your company meets our eligibility criteria.
- Applications and all documents (pitch decks and financial projections) should be in English.