Microsoft partners with tech hubs to fast-track investment in Africa’s startup ecosystem

Microsoft partners with tech hubs to fast-track investment in Africa’s startup ecosystem

Microsoft wants to accelerate the growth of startups in Africa and fast-track investment in Africa’s startup ecosystem. By providing support to 10,000 startups over the next five years to enable them grow. A new partnership with accelerators, tech hubs and incubators across Africa including Grindstone, Greenhouse, FlapMax and Seedstars will seek to provide startups with access to markets, technical skills, and funding opportunities.

Through the intiative, startups will get access to technology, skilling programs and an opportunity to co-sell with Microsoft. They will also get support from Microsoft engineering and product teams for co-innovation opportunities.  

Africa’s startup ecosystem Microsoft

Microsoft believes the vibrant African startup market is well placed to become a cornerstone of the continent’s digital economy. However it represents less than one percent of total investments worldwide. Wael Elkabbany, Managing Director, Microsoft Africa Transformation Office, points out, this needs to change.

Investments into Africa’s startup ecosystem are growing at an exciting pace. According to the Organisation for Economic Co-operation and Development (OECD), there are more than 640 active tech hubs across Africa, accelerating innovation and creating employment, particularly among the youth.”

Wael Elkabbany

Microsoft will also partner with key B2B-focused start-ups, scaleups, “soonicorns” and unicorns across a range of leading African industries. As well as startups concentrating on developing solutions for SMEs. Microsoft will tailor each partnership based on the needs of a startup says Gerald Maithya, Startups Lead, Microsoft Africa Transformation Office.

We understand that each start-up is unique and exists beyond the limitations of a one-size-fits-all partnership model. Therefore Microsoft will tailor each partnership to the needs of individual start-ups, providing support and access. – Whether to technology, markets and co-sell opportunities, funding or digital skills. – To enable them to grow and contribute to the wider economic growth of Africa,”

Gerald Maithya

Microsoft is also partnering with venture capital investors to facilitate access to $500 million in potential funding and has launched the Startups Founders Hub in Africa. Through the Africa Transformation Office, Microsoft will enable digital transformation powered by Africans for Africa.

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Microsoft launches Founders Hub in Africa to support 10,000 startups

Microsoft launches Founders Hub in Africa to support 10,000 startups

Microsoft is bringing the Startups Founders Hub to startups in Africa through new initiatives by the Africa Transformation Office. The Founders Hub tries to remove traditional barriers that startups face when building a company. African startups will be able to get free access to technology, coaching, and support to hit their next milestone.

The self-service hub, Microsoft Notes, will provide startups with a wide range of resources. This includes access to mentors, skilling content, tools like Microsoft Azure and GitHub, and go-to-market and business support.

Founders Hub Microsoft Africa

The Founders Hub also includes opportunities for startups to sell to Microsoft’s corporate and enterprise customers. Helping with some of the early challenges startups face when it comes to finding customers. Microsoft will also support startups in geo-expansion activities, where startups can scale up by selling in new countries or regions. 

The Founders Hub allows Microsoft to engage with accelerators, incubators and tech hubs across the continent“, says Gerald Maithya, Startups Lead, Microsoft Africa Transformation Office.  

Our partnerships with key African accelerators provide crucial support to accelerate growth-stage startups with their business development and market expansion plans.

Gerald Maithya

This is part of new Microsoft initiatives under its Africa Transformation Office to accelerate the growth of 10,000 African startups and fast-track investment in Africa’s start-up ecosystem over the next five years. Including the announcement of $500 million investment funding to enable startups to rapidly scale. And new partnerships with accelerators and incubators to provide startups with access to markets, technical skills and funding.

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Microsoft to support African startups with $500 million investment funding

Microsoft to support African startups with $500 million investment funding

Microsoft is announcing plans to support African startups with $500 million in potential funding in partnership with venture capital investors to enable them to rapidly scale using investment funding. This is part of new initiatives under its Africa Transformation Office to accelerate the growth of 10,000 African startups over the next five years. Including the launch of Microsoft Startups Founders Hub in Africa and new partnerships with accelerators and incubators to provide startups with access to markets, technical skills and funding.

Microsoft will establish industry alliances and partnerships with venture capital investors to facilitate access to the $500 million funding. Targeting those with global reach and regional bases with an interest in one or more regions within Africa. The funding will come from a network of venture capital investors, who will dedicate a portion of their financial support to startups in the Microsoft network.  

African startups ecosystem

Our ambition is to see an explosion of local invention

Wael Elkabbany

The company has established partnerships with key venture capital investors, including Banque Misr, Global Venture Capital and Get Funded Africa. With plans to grow this network of venture capital investors in the next five years. This will allow it to increase funding to startups and enable them to scale up and drive economic growth. 

Our goal in establishing these partnerships with venture capital investors is to extend the network of potential partnerships between Microsoft, venture capital investors and startups, thereby increasing the funding made available to eligible startups,” says Gerald Maithya, Startups Lead, Microsoft Africa Transformation Office.  

Microsoft believes the African startup market is well placed to become a cornerstone of the continent’s digital economy, supporting local innovation through relevant solutions to societal challenges.  

Our ambition is to see an explosion of local invention,” says Wael Elkabbany, Managing Director, Microsoft Africa Transformation Office. “That will contribute positively, not just to Africa’s digital economy, but to global society he concludes“.

There is huge potential for Africa to become a thriving hub of digital innovation on the global start-up landscape.” 

Wael Elkabbany

Microsoft hopes to enable digital transformation powered by Africans for Africans with the establishment of the Africa Transformation Office. It will partner with public and private organizations to empower Africans and foster economic prosperity.

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FAST Accelerator, Microsoft and Flapmax court African innovators

FAST Accelerator, Microsoft and Flapmax court African innovators

Flapmax is launching Fast Accelerator, a startup incubation program in partnership with Microsoft to help strengthen and scale Africa’s digital ecosystem. The accelerator program targets startups building cloud and artificial intelligence (AI)-enabled technology products and services. It is currently accepting applications from entrepreneurs and innovators to participate in the first cohort.

Fast Accelerator startup Microsoft Flapmax

The first cohort will prioritize business to business (B2B) startups across all industries. With a special interest in healthtech, fintech, edutech, industrial and agritech, sustainability, and deeptech companies. FAST Accelerator startup applicants must be based in Africa. They must have an established product-market fit, be ready to expand within the continent. Applicants must also be available to participate in the full program between March 7 and May 27, 2022.

It will provide direct investment in African tech leaders, says Gerald Maithya, SME and Startups Lead, Africa Transformation Office, Microsoft. Adding that Africa is poised to become the next international technology hub.

We are excited to partner with Flapmax in our mission of empowering every person and every organization on the planet to achieve more. The FAST program will provide direct investment in the technology leaders of tomorrow in the region, helping build key infrastructure that uses artificial intelligence as the basis for solutions development.”

The FAST Accelerator program will combine business development, technology integration, funding and community building opportunities. Participants will work with Microsoft engineering team members on co-innovation projects ranging from product integrations to new offerings. Whilst the Flapmax engineering team will help startups apply new technology solutions, including Measure, Coral Imaging, and Fast Portal. Additional perks include up to $250,000 in Azure credits, access to Founders Hub, Dynamics 365, and Microsoft 365 (including Teams).

At Flapmax our mission is to enrich the lives of everyone on the planet and make the world more sustainable, using accelerated AI technology,” says Dave Ojika, founder and CEO, Flapmax. “We are proud to partner with Microsoft to make that dream a reality for startup founders committed to strengthening the digital ecosystem in Africa“. 

Click to visit the startup accelerator page for more details about the program and apply to participate.

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African startups to win up to $1.5 million in Pitch AgriHack competition

African startups to win up to $1.5 million in Pitch AgriHack competition

Pitch AgriHack competition

Agritech startups in Africa will be eligible to win up to 1.5 million dollars at the seventh edition of the Pitch AgriHack competition. Pitch AgriHack is a pitching contest aimed exclusively at African businesses bringing technological innovation to the agriculture sector. Organized by AGRF and Heifer International, the competition focuses on accelerating entrepreneurial growth and job creation in the agriculture sector by leveraging advanced technologies and youth participation in Africa’s food security agenda.

The open competition portion of Pitch AgriHack 2021 will support companies that are driving innovation in agriculture across three categories-Early-stage, Mature/Growth-stage, and Women-led, with prizes totalling US$45,000. A fourth invite-only category known as the AYuTe Africa Challenge, sponsored by Heifer International, will award up to $1.5 million in grants to scalable ventures that are already generating measurable impact for Africa’s smallholder farmers.  

Six winners will be selected from the open-application categories and two winners from the invite-only AYuTe Africa Challenge category. The winners will be announced at the AGRF Summit which takes place September 7-10 in Nairobi. Top contestants will receive a one-day boot camp in preparation for their final pitches. Winners will get continued support to develop and grow their enterprises.

Generation Africa a thematic platform of AGRF will host the 2021 Pitch AgriHack competition. Applications open from July 27 to August 16, 2021. Click here to visit the registration page and get more information on the competition.

As a continent with a thriving youth population, Africa’s agricultural sector must look to its youth for the innovation that will fuel the future growth of this strategically important sector,” said Adesuwa Ifedi, Senior Vice President for Africa Programs at Heifer International. “Integrating youth and technology in the agricultural sector will transform the continent, creating new jobs and income-generating opportunities for young Africans”. 

In addition to its sponsorship of Pitch AgriHack 2021, Heifer International is partnering with Generation Africa to run this year’s competition. Both organizations have a shared vision of eradicating hunger and poverty through sustainable, community-led development that begins with agriculture. 

It’s a privilege to have an established and experienced non-profit organization like Heifer International on board,” said Head of Generation Africa, Dickson Naftali. “At Generation Africa, we believe that food systems can change if we collaboratively support young African agri-food entrepreneurs. Pitch AgriHack 2021 can give access to the tools and expertise they need to make their businesses successful.”

Dr. Agnes Kalibata, President of AGRA and Special Envoy to the UN Food Systems Summit, said, “We are excited to welcome Heifer International as it partners with the AGRF and Generation Africa on Pitch AgriHack 2021. By working together, sharing knowledge, and supporting mutually beneficial projects, we can make a bigger impact and drive agricultural transformation in Africa. We want young people across Africa to hear our message – the future of food and farming depends on them.”

Business profiles of the finalists will also be published in a Deal Book for circulation at the AGRF and online, while individual profiles will be made public on the GenAfrica.org platform and reviewed for relevance to their investor community. 

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