Are you an early stage start-up based in the Somali region? Are you working at the cutting edge of innovation, or developing a tech-enabled product or service addressing a big local need? Are you passionate about your business idea?
The Innovate Accelerator is a 12-week program that comprises mentorship and training by domain experts and entrepreneurs and offers seed investment for up to four (4) start-ups from the Innovate Ventures Fund.
- 12-week intensive training and mentoring on business and operational skills,
- Access to leading telecoms and banks in the Somaliland and Somalia,
- Pitching in front of local and international investors,
- Features in local and international media,
- Equity funding for at least 3 startups of up to $30,000.
Innovate Ventures are pioneers in the Somali start-up space, and have opened applications for the next round of its Hargeisa-based tech accelerator. To date, the program has graduated 25 startups and has invested almost $50,000 in its graduates. Building on last year’s success, this year’s program will accept 12 startups and will invest up to $30,000 in the teams with the highest potential. The program aims to support young entrepreneurs in Somaliland and Somalia and grow the nascent start-up ecosystem in the country. Innovate Ventures is the leading Somali start-up accelerator and technology fund, and works with VC4A, Telesom, and Oxfam under the Work In Progress! project to make this program possible.
Applications will be accepted online from startups based in Somaliland or Somalia for entrepreneurs under the age of 35. Up to 20 of these start-ups will be selected for a one-week boot camp, during which the commercial viability of the product or service will be espoused and the traction attained to-date will be evaluated. Successful startups will proceed to a 12-week accelerator program, which will be based in Hargeisa, Somaliland. This group will receive mentoring and training on how to build a commercially viable and scalable technology-enabled business.
The culmination of the program is Demo Day where the startups receive introductions to the leading companies and investors in the Somali region. The Demo Day will involve the startups pitching to a room full of local and international investors and media. The top four (4) start-ups will receive up to $30,000 in investment from the Innovate Ventures Fund.
DEADLINE: June 15, 2018