Venture capital firm Investisseurs & Partenaires (I&P), through via I&P Education to Employment (IP2E) has announced a partnership with Mastercard to support edtech firms in recovering from the impact of COVID-19.
The Mastercard Foundation has partnered with VC company Investisseurs & Partenaires (I&P) to help companies in the education sector recover from the effects of COVID-19.
The three-year program will help 30 education entrepreneurs in Ghana, Ivory Coast, and Senegal succeed by addressing key challenges in the sector such as access, efficiency, and relevance.
The US$10.5 million program aims to impact 95,000 beneficiaries, including students, trainees, and ed-tech platform users served by these companies, of whom 55 percent will be women and 33 percent will be marginalized youth, by accelerating the work of edupreneurs and SMEs in the education sector.
The education start-ups and SMEs will be chosen based on their ability to provide high-quality education and training while also fostering youth empowerment and employability in their respective countries of service.
IP2E will be able to deploy its Access Facility, a grant-based facility aimed at increasing access to quality education in Africa, with funding from the Mastercard Foundation COVID-19 Recovery and Resilience Program, to support SMEs in the education sector that have been significantly impacted by the pandemic.