Startupbootcamp AfriTech Launches OnAfrica to Empower African Startups
In a significant move to enhance support for startups in Africa, the pan-African Startupbootcamp AfriTech accelerator has unveiled the OnAfrica community and investment syndicate.
This initiative, spearheaded by Henry Ojuor, the director of programmes and ASIP founder-in-residence, aims to connect startups with mentors, providing not only operational guidance but also crucial capital.
Established in 2017 as the first multi-corporate-backed pan-African startup accelerator, Startupbootcamp AfriTech expanded its commitment to fostering innovation in March 2021 with the Africa Startup Initiative Programme (ASIP).
This program, dedicated to supporting early-stage African tech startups disrupting various sectors, recently welcomed 10 startups into its fourth cohort.
The newly launched OnAfrica Investment Syndicate is positioned to play a pivotal role in showcasing the most promising startups from Africa.
Through this syndicate, startups will receive essential support, including funding, access to partnerships, and valuable resources.
Henry Ojuor expressed enthusiasm about the inauguration, stating, "In a concerted effort to ensure that startups within our network receive sustained and enduring value from mentors in our community, while also ensuring that mentors are able to capture some of the value they give to founders, we are thrilled to officially announce the inauguration of the OnAfrica Investment Syndicate, a groundbreaking venture facilitated by Startupbootcamp AfriTech."
Selected startups are set to benefit from checks ranging from US$100,000 to US$400,000, encompassing comprehensive support in the form of funding, mentorship, and guidance from an esteemed team of experienced angel investors.
The initiative plans to facilitate between US$3 million and US$5 million per year in startup deals by leveraging pre-vetted startup deal flow through Startupbootcamp AfriTech's extensive scouting network and due diligence frameworks.
Members of the syndicate will gain exclusive access to premier deal flow opportunities emerging from Africa, thanks to the Startupbootcamp alumni network.
OnAfrica is actively calling on angel investors to join this journey by expressing their interest [here](link to submission page).
This collaborative effort seeks to elevate the startup landscape in Africa by fostering meaningful connections between mentors and startups while providing the necessary financial backing for their growth and success.
Tom Jackson / Disrupt Africa