Suguba, in partnership with Mercy Corps and the French Development Agency (AFD) and Mercy Corps – is organizing its second 6-month investment preparation program in West Africa (tagged Afrikhaliss Program) to support the 8 most promising startups in the digital sector in French-speaking West Africa.
L’Afrique Excelle, the French-language adaptation of the World Bank’s XL Africa technology accelerator, was Suguba’s first acceleration program. This program, which ended in 2018/2919, aimed to connect French-speaking startups on the continent with mentors and investors. Afrique Excelle had enabled 18 of the top 20 startups in French-speaking sub-Saharan Africa to raise funds for a total of around $ 10 million, which made it a total success.
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Afrikhaliss is aimed at digital startups that offer impactful solutions for local and regional value chains. The program targets companies that already have a product or service on the market and are generating revenue. However, requests from businesses that are not yet generating revenue will also be considered.
Eligible companies are based or generate at least 75% of their turnover in one or more of the following markets in French-speaking West Africa: Benin, Togo, Burkina Faso, Guinea Conakry, Ivory Coast, Mali, Niger and Senegal. We are agnostics in the sector and are looking for digital solutions at a later stage with services or products available on the market now.
The entrepreneurs will be supervised by international and local experts, will be trained as part of a tailor-made program, will increase the visibility of their brand and will have access to potential partners and investors. Thanks to its collaboration with leading investors, particularly in French-speaking Africa, Afrikhaliss will help selected young companies to attract capital.
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This year’s program will take place in two virtual or physical residences, in Senegal, depending on the evolution of the health situation, and in Côte d’Ivoire.
Flagship activities include two one-week residential training sessions in Dakar (Senegal) and another in Abidjan (Côte d’Ivoire), offering entrepreneurs the opportunity to develop their professional network and learn from mentors, peers and local and international partners. The residential training in Dakar will end with a Pitch which will take place during the second edition of the Francophone Africa Investment Summit where entrepreneurs will present their start-ups to a large audience of experts in new technologies, investors, large companies, experts and media.
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The program has as partners the main investment funds and business angels active in French-speaking Africa.
Read also: Why Startup Ecosystem in Africa’s French-Speaking Countries Is The Least Funded In Africa
How To Apply
Interested companies can apply online at www.Suguba.org, no later than June 19, 2020.
The Afrikhaliss program was initiated by Suguba and Mercy Corps, with financial support from the French Development Agency and is implemented by Suguba in partnership with Village Capital, Impact Hub Dakar and Impact Hub Abidjan.
For more information on the program or if you wish to become a partner in this initiative, please contact us at the following address: contact@suguba.org
Source: Suguba
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.