World Bank Group XL Africa Business Acceleration Program 2017 for Digital start-ups from Sub-Saharan Africa

The World Bank Group launched XL Africa , a five-month business acceleration program designed to support the 20 most promising digital start-ups from Sub-Saharan Africa. Start-ups will receive mentoring from global and local experts, learn through a tailor-made curriculum, increase their regional visibility, and get access to potential corporate partners and investors. With support from prominent African investment groups, XL Africa will help the 20 selected start-ups attract early stage capital between $250,000 and $1.5 million.

Eligibility Requirements

  • Your startup is for profit and registered, with a team of at least three people
  • Your team is based in one of the countries of Sub-Saharan Africa
  • You have a very strong management team
  • You have a digital product or service available on the market right now, with demonstrated tangible traction and evidence of revenue
  • You have potential to achieve scale
  • You are seeking investment capital in the range of $250K โ€“ย $1.5m
  • While there will be exceptions, mostly likelyย yourย startup has already receivedย investmentย capital,ย structured as either debt or equity,ย or received grants fromย donor organizations.
If you are accepted into the program, you will be asked to:
  • Engage regularly with mentors (4-6 hours a month) over five months. Remember itโ€™s a two-way street โ€“ both mentors and mentees learn and commit to this relationship. In many cases, we expect these relationships to last long after the program has ended.
  • Over 5 months, participate in four virtual webinar sessions run by global experts with inputs from leading African and US investors and successful entrepreneurs.
  • Participate in the residential program in South Africa for two weeks in November 2017.
  • Engage with 19 other African enterprises, along with mentors, investors and strategic partners.
  • Come with an open mind and be willing to learn and collaborate.

Benefits:

  • Structured access to investors throughout the program and at a Venture Showcase Day in South Africa.
  • Mentoring from at least two successful entrepreneurs or investors (global and local) to develop accurate company valuations, financial forecasts, risk management and customer acquisition strategies. Access to other expertise is provided based on your specific needs.
  • The opportunity to meet with investors, potential customers and partners as well as peers at an all-expenses paid residency in Cape Town, South Africa.
  • Support in developing investment packages so youโ€™re ready for investment following the program.
  • Knowledge through curated content designed to teach you everything you need to know about marketing, financing and market expansion.

 

Application Deadline: June 12, 2017

August 1 โ€“ December 31, 2017

How to Apply

If you are interested in applying for this progromme, visit the link below

Visit here to apply for the World Bank Group XL Africa Business Acceleration Program 2017

Thank you for reading this post, don't forget to subscribe!

Are you interested in receiving the latest grant, funding, and business opportunities? Join our newsletter for free and stay updated!

Click here to join our newsletter

Join our community:

Join our WhatsApp group

Join our Telegram group

Join our Facebook group

About The Author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top

Funding Opportunities & Resources to Grow Your Business

Join the Funding and Business Resources Masterlist and unlock daily emails with access to the latest funding opportunities, business resources, and tools to plan, start, and grow your business.

We take your privacy seriously and will never share your personal information with third parties!