XL Africa is looking for 20 high-growth digital startups seeking to raise between $250K and $1.5M in funding. The digital startup incubation Program helps with access to funding, networks, mentoring and a community of like-minded entrepreneurs.
Your company would be aided with access to capital, expand market share, and refine its business model through tailored mentorship, coaching, and networking opportunities. Here’s what you gain:
- 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 you’re ready for investment following the digital startup incubation program.
- Knowledge through curated content designed to teach you everything you need to know about marketing, financing and market expansion.
- Your startup is for profit and registered
- Your team consists of at least 3 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 – $1.5m
- While there will be exceptions, mostly likely your startup has already received investment capital, structured as either debt or equity, or received grants from donor organizations.
XL Africa is supported by the World Bank Group, with financial assistance from the Governments of Finland, Norway, and Sweden, and managed by implementing partners IMC Worldwide, VC4Africa and Koltai&Co.
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