Grooming Endowment Trust (GET), in partnership with Kickoff Africa, a well-known early-stage investment company for African entrepreneurs, is now accepting applications for the second round of the GET Accelerated Programme.
This is a transformative programme that aims to give early-stage founders in Nigeria the tools they need to grow their businesses.
GET Accelerated gives some startups the chance to get up to N10,000,000 in investment without giving up any equity. It also gives them access to expert mentors and important market opportunities.
Grooming Endowment Trust (GET) is a non-profit group that works to support long-term social projects in education, health, business, and community development. With its focus on giving support and equity-free investments to social enterprises, GET wants to help people and communities in Nigeria and make a good difference.
In partnership with KickOff Africa, GET launched the first version of the GET Accelerated Programme in 2022. Ten early-stage founders were given investments of N10,000,000 that didn’t require them to give up any ownership. The second version of the programme will start in 2023.
GET Accelerated aims to support startups operating in key sectors such as financial services, healthcare, education, agriculture, digital (economy) infrastructure, social impact, media, mobility and logistics, and commerce (e-commerce or social commerce). After an extensive screening and selection process, ten startups will receive a cumulative sum of ₦55 million in equity-free funding, access to expert mentors, and numerous market opportunities to scale their businesses.
Read also: Visa opens applications for its Africa Fintech Accelerator Program
Eligibility for GET Accelerated 2.0
Startups must be registered and incorporated with the Corporate Affairs Commission (CAC), have a minimum viable product (MVP) with some growth or paying users, and have been in business for between 6 months and 2 years.
Also, the unique business model should have some kind of effect (social, economic, socioeconomic, or political) on communities, either directly or indirectly. Angel, pre-seed, and seed-stage startups are urged to apply.
“We’re excited to hold GET Accelerated for the second time and give early-stage founders the tools they need to grow their businesses. We think this programme will help Nigerian startups grow and come up with new ideas by giving them equity-free funding, mentorship, and market chances. — Michael Adoghe, who is in charge of operations at Grooming Endowment Trust.
“Through the first round of the GET Accelerated programme, we saw for ourselves how helping entrepreneurs gives underserved and marginalised communities more opportunities and a bigger effect. We hope to encourage more innovation in Nigeria by giving early-stage companies access to the capital, guidance, and resources they need to solve Nigeria’s persistent problems. Fola Olatunji-David, KickOff Africa’s Founding Partner
Since the first GET acceleration, Kickoff Africa’s partnership with GET has been very important. Kickoff Africa is known for its support of innovation across Africa and its investment portfolio of early-stage startups. It is also in a good position to give valuable advice and expertise to the entrepreneurs who are taking part in GET Accelerated.
Angel and seed-stage owners are invited to a live webinar with industry professionals Toyin Bamidele (Programme Manager, Kickoff Africa) and Adaeze Sokan (Programme Lead, Digital Economy, Mastercard Foundation) on Friday, July 21, from 4 to 5:30 p.m.
Owners and potential applicants can learn how to make their applications stand out, set up their firms to acquire equity-free investment and learn ideas and approaches to help early-stage startups in Nigeria solve problems in the webinar.
Register for this webinar at http://bit.ly/GET2023Webinar.
Startups interested in GET Accelerated can apply at bit.ly/GETAccelerated2 or www.groomingendowment.org until Saturday, July 29, 2023.
Google announces Cleantech Accelerator in the Middle East and Africa
About Grooming Endowment Trust
Grooming Endowment Trust was set up as a nonprofit in August 2020 to support long-term social projects in education, health, business, and community development. The Grooming Centre gave the Trust its first start-up money, and now it gives grants and makes investments in social businesses that make a difference in their communities.
Grooming Endowment Trust (GET) promotes sustainable social initiatives in line with the UN’s Sustainable Development Goals (SDGs). We provide grants, funding, and finance for early-stage firms and initiatives that make a good social impact, believing that innovative ideas spark positive change.
Additionally, they empower people and uplift communities in need by focusing on education, health, enterprise, community development in peri-urban and rural areas, aid, and humanitarian relief. In Africa, we tackle challenges and support sustainable development.
The company uses their resources more effectively by forming strategic alliances and working together in order to support and advance initiatives that bring about long-term change. Supporting and investing in these projects fosters inclusive growth, well-being, and a brighter future for Africans.
