Silicon-Valley VC firm 500 Global and Germany’s economic development agency Gesellschaft für Internationale Zusammenarbeit (GIZE) will train leading accelerator managers in Africa over the next two years, helping them establish sustainable business models that have a significant impact on their ecosystem.
Dubbed Bootcamp for Accelerator Managers (BAM), the program leverages over 80 accelerator programs at 500 Global, data-driven project-based teaching and real-world scenarios, and leverages GIZE Make-IT’s experience in igniting innovation in Africa. Continent.
The program will feature 15 accelerators from key technology hubs including Uganda, Egypt, Ghana, South Africa, Senegal, Nigeria, Ivory Coast, Kenya, Rwanda and Tanzania.
Accelerators provide comprehensive support to early-stage startups, including helping them find product-market fit, funding and finding investors. However, being startups as well, startups also face failure due to two challenges including liquidity problems.
Marme Ding, Head of 500 Global Africa, said: “500 Global is excited to work with GIZE to ensure that African startups have the tools they need to support them. The VC firm formerly known as 500 Startups transitioned to 500 Global over a year ago.
“500 has been investing in companies in Africa for a decade and continues to be passionate about the growth of the African tech ecosystem. We believe the next phase of this evolution will be led by home-grown accelerators like those joining BAM.”
500 Global said the participating accelerators were selected based on experience, tenure, leadership position in their market and track record – some of their graduates must raise follow-on capital.
The first group will begin the program on November 14, with five days of in-person training in Kenya, followed by a year-long virtual program.
“This program represents another cornerstone in Make-IT’s efforts to support African innovation at the local, African and global levels,” said Matthias Rehfeld, Head of Make-IT Africa.
“Together with our partner 500 Global, we will build bridges between African and international networks by bringing together African accelerators with experienced coaches. Beyond the scope of the program, African entrepreneurs and start-ups can benefit from the best practices implemented by accelerators across the continent,” said Rehfeld.
