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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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.
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“.
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Silicon Valley-based AI startup, Blink Tech Inc., is trying to revolutionize the video recording experience with its Blink Focos app and Gimbal tool. The technology focuses on turning your mobile phone into a fully automated cameraman by leveraging AI and computer vision.
Blink Tech says traditionally most people use a mobile phone as the only tool and medium to capture an experience. Noting that video equipments are often either bulky or expensive. So, whether it is the price point or lack of accessibility, Blink wants to help offer you a one-stop-shop tool. One that is at your fingertip to capture any experience in full automation with the capability to zoom in and out as well as live streaming.
Our product – FOCOS App (analyze video images from phone’s camera and control the Gimbal via Bluetooth) and Gimbal (battery life of up to 5 hours that is foldable about palm size) that work with each other
With the Blink Focos app, the video clips captured can be uploaded to the cloud live for you to revisit. It also provides you with data analytics functionalities that analyze motion, speed.
We developed a smart and rotatable phone mount along with an AI app.Which essentially enables smartphones to automatically record sports games such as soccer or basketball games. In addition, it supports live sports game streaming over the Internet and can help customers edit and analyze recorded game videos from the cloud side. To date, this is the first smart recording solution based on smartphones.
How Blink Focos works
Blink Tech says all consumers can leverage their product for day-to-day capturing of life moments. Noting it is not just limited to sports. “You can capture your families, friends, events that you attend or any other memories that you want to take charge of effortlessly and lively“.
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