PayInc Group Limited, trading as PayAngel is announcing its selection into the Microsoft for Startups Founders Hub program. A Microsoft program that seeks to remove traditional barriers that startups face when building a company. PayAngel believes the program will help them innovate faster and accelerate their growth. The company offers remittance and payment solutions to the African Diaspora.
Microsoft Africa Transformation Office in March this year launched the Microsoft for Startups Founders Hub in new initiatives to accelerate the growth of 10,000 African startups and fast-track investment in Africa’s start-up ecosystem. It is a new digital and all-inclusive platform that gives startups free access to Microsoft technology, tools, coaching, and support to build and scale their business. It also includes opportunities for the startups to sell to Microsoft’s corporate and enterprise customers.
Jones Amegbor, CEO of PayAngel, notes that the exclusive technology packages in the Hub will allow the company to innovate faster and accelerate its growth.
“What this means to our existing and new customers is a more robust, secured and enhanced system, expansion to other territories and straight-through service delivery”.
Beyond access to technology, the Microsoft for Startups Founders Hub program empowers young entrepreneurs to innovate and grow by connecting through their mentoring program. Which provides them with industry, business, and technical support to guide them through their next business milestones.
Founders also get access to Microsoft Learn and a variety of programs to help them build connections with customers and accelerate their growth.
The Microsoft for Startups Founders Hub centres around these three key areas:
Unlocking innovations for all: The platform eliminates traditional barriers founders face when starting, such as venture capital requirements or third-party validation to help any founder, regardless of background, location, or access, to be successful.
Technology benefits that grow: Keeping pace with a startup’s lifecycle, the platform helps founders speed development with free access to GitHub and the Microsoft Cloud with the ability to unlock additional benefits over time
Access to mentorship and guidance: Through the platform, startups can connect with industry veterans, access tailored startup-centric training and innovate quickly with expert technical guidance.
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Twenty-one business to business (B2B) tech startups will participate in the second cohort of the Microsoft GrowthX Accelerator program. They will work to co-create technology solutions with partners such as DHL, Etisalat, EY, Koç Holding, Lulu Hypermarket, and PwC. The startups will spend 12-weeks of virtual and physical workshops and training in the United Arab Emirates, thanks to its partnership with the Abu Dhabi Investment Office (ADIO).
The accelerator program is designed to bridge the gap between corporates and B2B startups across the Middle East and Africa. By connecting them with large corporations with specific problem statements they are looking to solve. The 12-week program runs from March to June 2022. It will empower the B2B tech startups with technology, mentoring and market access.
“We’ve built on the success of the first GrowthX Accelerator says Roberto Croci, Managing Director of Microsoft for Startups. To develop a second edition that is even more hands-on and offers even more value for participating startups, he adds.
“The 21 startups participating in this event will gain incredible knowledge from mentors in the program. That will not only help them scale their businesses but drive real impact across the region. Together with ADIO, we look forward to empowering this second cohort of startups to develop their innovative ideas into next-generation solutions that can further drive our position as a global hub for technology and entrepreneurship.”
Roberto Croci
Here are the startups from across the Middle East and Africa (MEA) region participating in the Microsoft for Startups program.
Meet GrowthX Accelerator program cohort 2 startups
AiFlux – provider of digital solutions to the renewables and oil & gas industries.
DevisionX – supports organizations in the manufacturing industry in building no-code AI-powered digital solutions.
Event Gates (EGT Kontrol AS) – develops AI solutions for security and manufacturing verticals.
Farmdar – empowers farmers with actionable data to lower costs, increase yield, enhance quality and reduce waste.
Farmin – AI-powered platform that delivers critical insights for smart cities.
Greener Crop – supports farmers in leveraging technology to operate profitable farms and harvest sustainable, nutrient-rich and locally grown fruits and vegetables.
AI – a software company with a focus on digitizing physical spaces.
Lune Technologies – developer and manufacturer of fiber optics and terahertz-based technology products for the aerospace, automotive, defence, energy and infrastructure industries.
monak e-services – on-demand delivery service
NutzenTech – provides data and technology-focused B2B and B2G solutions that reduce environmental footprint.
Nybl – a machine learning platform that turns underutilized data into actionable intelligence.
Occicor – helps CPG companies achieve better shelf management by transforming images into actionable data.
Olymon Solutions – provides smart automation solutions to unify the processes of grocers and food traders.
Pivony – a self-service web platform used to discover conversation topics and obtain insights from real user-generated data
PowerDev – unifies the energy market big data from multiple resources and provides a robust SaaS data analysis tool.
Sav – a platform that enables you to manage your finances better and is the most convenient way to achieve your financial goals.
Searover – provides AI and robotic solutions with a focus on predictive and preventive maintenance solutions in solar, wind and hydropower generation.
Swftbox – A plug & play platform that offers retailers faster deliveries (same day, next day) through its courier network and complete fulfilment services.
Trade Capital Partners (TCP) – trade finance FinTech that offers working capital solutions for SMEs and startups in Emerging Markets.
Valorafutbol – a Software as a Service product designed to increase reach, engagement and monetization opportunities for media, sports and entertainment stakeholders.
Workfam – a gamified employee engagement platform
The Microsoft for Startups MEA GrowthX Accelerator program has grown from the 15 startups that participated in the first cohort.
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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.
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,”
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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.
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 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.
“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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