Nairobi based accelerator for African startups, The Baobab Network has announced that its 02-2023 cohort is now accepting applications.
The Baobab Network funding is open to early stage tech startups across Africa whose solutions create or rely on technology to solve a problem.
The accelerator offers $50,000 in funding as an early stage capital for founders to kick-start their company’s growth as well as a 3-month hands-on support from the Network.
Startups also get intensive 2-week consultation sessions where a network of industry experts work alongside founders to tackle their most pressing challenges.
Criteria for applying
- Applying companies must be based in Africa and must be ked or run by an African team.
- They must have built a minimum viable product (MVP) and some early traction.
- Companies without MVPs must have proof of validated market demand for their product/services, e.g. sign ups from users, verifiable client waiting list, offline purchases or any proof that customers are willing rovoay for the product/service.
- Applying startups need to support their application with other documents like investment deck, cap table, traction document e.t.c.
The Baobab Network has just recently announced that it has invested in five (5) new startups for its most recent cohort, 01-2023 Cohort.
The new additions which include companies in Kenya, Tanzania and Nigeria have increased the accelerator’s total portfolio to 35. The newly accepted startups are;
- MEDIKIA (Tanzania)- a telemedic platform
- vUTIA (Kenya) – a B2B cosmetics marketplace
- TRIPITACA (Kenya) – a travel tech company
- MESSENGER (Nigeria) – a logistics and supply chain solution company
- SWAHILIES ( TANZANIA) – an SME and bookkeeping platform
Each of these startups received $50,000 , 2 weeks consultation sessions and 3 months hand-on support.
Applications are still open for the next cohort. “We accept applications on a rolling basis ,- so feel free to apply anytime and someone from our team will be in touch with you” the company writes.
To apply, simply visit www.thebaobabnetwork.com and follow the instructions.