Pangea Accelerator has announced the launch of its 2021 scale-up initiative, which will fund and expand start-ups from seed to series A.
Just 6% of the local start-ups that have raised more than USD 1 million have local investors, with the majority being founded by expatriates.
Pangea Accelerator aims to change this by enabling more African entrepreneurs to gain access to the capital they need to grow their businesses.
Many start-ups face the difficulty of attracting investors to finance their companies, which is a daunting and time-consuming process that can obstruct the start-other up’s operations.
Pangea aims to help entrepreneurs and investors connect, and equip them with the knowledge and skills they need to take their businesses to the next stage.
The start-ups will also receive customized coaching sessions tailored to their unique business needs, as well as optimal investor matching to finance their companies.
The start-ups will receive coaching tailored to their specific needs, as well as support from a variety of investors.
“Our program has been customized to meet the needs of local businesses based on feedback we got from various start-ups in East Africa,” says Jonas Tesfu, CEO and Cofounder of Pangea Accelerator.
The scale-up program will last 18 months to ensure that the selected start-ups receive all of the necessary support.
The program also emphasizes the development of long-term relationships that will last beyond the 18-month period.
The selected start-ups would have access to private funding ranging from USD 0.5 million to USD 3 million.
Visit the website for more information or to apply.