South African township-savvy entrepreneurs can now apply to a new accelerator programme, courtesy of Akro Accelerate (Pty) Ltd in partnership with Imvelo Ventures (Pty) Ltd. The digital accelerator offers to create new opportunities to black-owned and founded township startups.
“We aspire to unlock growth opportunities for both the startups in townships as well as for our partners. We look for South African businesses that embrace transformation, and we know that the townships have what we are looking for: disruptive business models, scalable businesses, and strong entrepreneurs that show resilience and leadership,” Anton Baumann Board member of Imvelo Ventures, a Johannesburg based investment company said.
Here Is What You Need To Know
- Imvelo Ventures is a black-owned and black-managed VC and an approved SARS section 12J Venture Capital Company. The VC supports startups at their different stages of development, provided they hold high-growth potential.
- According to the organisers of the programme, the accelerator looks out for quality startup founders who are integral to any progress for a startup. Consequently, the accelerator ensures that Founder Growth is an essential pillar to the work they do with startups.
“Entrepreneurship is a long, difficult journey that can be isolating, and we know that resilience is important — as well as knowing your own strengths and weaknesses. We cannot ignore this core element of a startup’s success or failure, whilst working on strategy, systems, and tech development.”
- Akro’s motto is ‘Think Bigger, Build Better, Move Faster’ and the VC says this isintegral to everything they do and that they understand the most valuable way to move a startup forward through practical, hands-on assistance.
A Look At The Accelerator Programme And How Startups Can Apply
The accelerator programme is for South African startups and begins on 7 September 2020, and is broken down into three elements:
- 20 startups will join a filtered eight-week coaching and mentoring programme.
- 10 startups will be offered a more in-depth, high-touch intervention, which culminates in Demo Day on 6 November 2020, where each of these 10 startups has the opportunity to pitch for one of three grants to the value of R100 000. These grants will be awarded at the sole discretion of Imvelo Ventures.
- After Demo Day, the 10 finalist startups will continue with ‘light touch’ assistance for a further 12 weeks.
Please note that all startups applying must have access to technology and data whereby they can access group webinars.
Applications for this progamme close on 21 August 2021. Includes a chance to win 1 of 3 R100,000 ($5.7k) in grant funding (at the sole discretion of Imvelo Ventures)
To apply click here.
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