EAST AFRICA – Investment platform Pangea Accelerator, has launched a scale-up program to support start-ups and grow them from seed to series A to enable more African entrepreneurs to gain access to the capital they need to accelerate their enterprises.
The investment platform will invest between US$0.5 million to US$3 million into East African start-ups as only 6% of local founders have raised over US$1m compared to start-ups founded by expatriates.
Pangea Accelerator aims to help bridge the gap between entrepreneurs and investors and provide them with the skills they need to take their start-ups to the next level.
“Our program’s design has been tailored to fit the needs of local enterprises based on feedback we received from different start-ups in East Africa,” said Jonas Tesfu, CEO and Co-founder of Pangea Accelerator.
The good news for start-ups is that the program is sector-agnostic and looking for the best start-ups in different sectors of the economy.
There are plenty of great benefits of joining the program as the chosen start-ups will receive access to private funding between US$0.5 to US$3 million.
“Our program’s design has been tailored to fit the needs of local enterprises based on feedback we received from different start-ups in East Africa”Jonas Tesfu – Co-founder & CEO, Pangea Accelerator
In addition to the funding, they will receive tailored coaching sessions to suit their specific business requirements and optimal matching of investors to fund their businesses.
The icing on the cake is that the start-ups get to tap into the vast networks that Pangea Accelerator has.
The scale-up program will be 18 months long to ensure that the selected start-ups will have all the support they need.
The start-ups will receive coaching relevant to the needs of their businesses and will receive funding from different investors.
The program also focuses on building long-term relationships that will extend beyond the 18-month duration.
Pangea Accelerator is a Norwegian-based accelerator and an investment platform operating in East Africa that matches African start-ups with investors, foundations and development agencies to reach a global scale.
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