Madica launches grant support program for African startups

Madica is a structured investment programme designed for African pre-seed enterprises. Its goal is to enable mission-driven entrepreneurs by providing more individuals with access to excellent company-building support, which is now only accessible to a select group of connected business owners.

To help startups grow and ensure their long-term sustainability, Madica offers highly tailored instruction, helpful guidance, invitations to fully-funded week-long founder participation trips, executive coaching opportunities, and access to its global network of investors for follow-on funding.

To foster growth and guarantee the long-term sustainability of the startups, Madica provides support through highly personalised instruction, helpful guidance, invitations to fully-funded week-long founder participation trips, leadership development opportunities, and access to its worldwide community of investors for extra funding.

The grant programme addresses major obstacles startups face to solve significant problems and promote innovation, entrepreneurship, and job creation throughout the continent. These obstacles include restricted access to finance, a lack of investors, inadequate mentorship, and a lack of organised support.

By Madica’s goal, each startup has received a maximum investment of $200,000 and is participating in Madica’s extensive investment programme, which consists of 18 months of devoted company-building assistance catered to each startup’s specific needs.

The Madica organised investment programme, created for African pre-seed stage companies, today launched the first three companies in which it has invested :

Marie-Reine Seshie founded Kola Market (Ghana), a comprehensive B2B platform that simplifies and increases the effectiveness of company operations, helping SMEs boost sales, manage inventories, and obtain finance.

Lesley Mbogo and Peter Ndiang’ui co-founded GoBEBA (Kenya), an e-commerce platform that facilitates sales to consumers directly of large, essential utilities. This platform ensures safe, prompt, and reliable doorstep service in cities.

Brett Thompson and Tasneem Karodia founded NewForm Foods (South Africa), which helps food producers and distributors develop and scale-grown meat products rapidly and affordably at prices far lower than those in the market.

First founder participation visit to South Africa

Madica recently concluded its first founder participation visit in South Africa, where participants met face-to-face with a reliable network of investors. On the 10th Anniversary of the Africa Early Stage Investor Summit, the trip gave innovators an additional opportunity to pitch to critical foreign investors.

Seeking corporate support, follow-on funding, and strategic collaborations, the founders outlined their objectives for expansion. To assist founders connect with more investor groups, the next founder immersion tour is planned for June 2024 in London.

Additionally, Madica continues to promote initiatives like Women Who Build Africa, which honours and celebrates the outstanding accomplishments of female tech innovators who promote innovation across the African continent.

Madica Application Procedure

Founders can apply without an introduction through Madaca’s open application procedure. To find and help businesses, the programme works with local ecosystem participants like angel networks, incubators, and accelerators.

Each applicant goes through the same screening process, and investments are made annually on a rolling basis. This year, the programme hopes to invest in up to ten more firms. Interested founders should visit Madica’s website to learn more and apply.