The Open Startup Grow Program 2023 is a 12-month investment readiness program designed for advanced startups in Africa. The program is developed in collaboration with AfricaGrow, BPI France, Go Ventures, and Africinvest. It aims to support African startups that have raised up to 250K USD and are aiming to reach their First 1M USD and expand their businesses in new markets (Europe, Africa, GCC). It is a pan-African investment readiness program dedicated to advanced startups.
The program includes:
- 12-month journey: This is the core of the program and will help your startup develop a growth plan, improve its business model, and get ready for investment. The program will also provide you with access to a wide range of resources and support, such as mentors, investors, and training materials.
- 2 months of online training: This is an intensive program that will cover a wide range of topics, such as business planning, fundraising, marketing, and sales. The training will be led by an experienced trainer who will help you develop the skills and knowledge you need to grow your startup.
- 2 months of follow-up mentorship: After the online training, you will have 2 months of follow-up mentorship with experienced entrepreneurs. This will give you the opportunity to get personalized feedback on your business and to get help with any challenges you are facing.
- 8 months of investor matching: This is the final phase of the program and will help you connect with investors who are interested in your business. You will have the opportunity to participate in VC clinics and to meet with a wide network of individual and institutional investors.
The program is open to startups from all sectors, but they must have a clear growth plan and be able to demonstrate traction. The deadline to apply is August 31, 2023.
Location:
AfricaBenefits
- Technical assistance: Get expert advice on how to improve your IT systems, intellectual property, code quality, and data security.
- Business assessment: Work with experienced partners to strengthen your business model, competitive analysis, financials, and organizational structure.
- Investor access: Connect with a wide network of investors from the Middle East and Africa region, pitch your startup, and secure potential investment opportunities.
- Regional exposure: Get financial support to attend international ecosystem events and expand your presence in new markets.
- Talent fellowship: Get financial assistance to cover part of the salaries of your talented team members.
Eligibilities
- The startup must be based in Africa.
- The startup must have raised up to 250K USD in funding.
- The startup must be aiming to reach their First 1M USD and expand their businesses in new markets (Europe, Africa, GCC).
- The startup must have a clear growth plan and be able to demonstrate traction.
- The startup must be led by a diverse team.
- The startup should be working on innovative solutions to problems in Africa.
- It has the potential to scale and have a positive impact on the continent.
Application Process
- Submit your application form. The application form can be found on the Open Startup Grow Program website. The form asks for basic information about your startup, such as your business model, team, and traction.
- Be clear and concise in your application. The evaluators will be reviewing a lot of applications, so make sure yours is easy to read and understand.
- Highlight your startup’s unique value proposition. Explain why you are a good fit for the program.
- You will need to record a pitch video that introduces your startup and explains why you are a good fit for the program. The video should be no more than 3 minutes long.
- You will need to provide the names and contact information of two references who can speak to your startup’s potential and track record.
- If your application is selected, you will be invited to attend an interview with the Open Startup Grow Program team. The interview will give you the opportunity to discuss your startup in more detail and answer any questions that the team may have.
Application Deadline: August 31, 2023
Application ClosedOfficial linkFor Further Queries
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