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Tag: Entrepreneurs

  • UNICEF StartUp Lab is Empowering Ghanaian Entrepreneurs

    UNICEF StartUp Lab is Empowering Ghanaian Entrepreneurs

    Ghana is a country with a vibrant and diverse entrepreneurial ecosystem, where many startups and businesses are using technology and innovation to solve social and environmental challenges. However, these ventures often face barriers such as limited access to funding, mentorship, partnerships, and knowledge.

     This is why UNICEF, in collaboration with KOICA and MEST Africa, launched the UNICEF StartUp Lab in 2019, a six-month accelerator programme that supports impactful startups and businesses working to advance the Sustainable Development Goals (SDGs) for children and young people.

    The Programme Structure and Benefits

    The UNICEF StartUp Lab is a unique service that combines an intense, hands-on business acceleration with wide-reaching technical expertise and systems knowledge in the social sector, led by the UNICEF experts in Education, Health & Nutrition, Social Policy & Protection, WASH (Water, Sanitation & Hygiene), and Child Protection. The programme aims to help the participants develop and scale their solutions, while also creating positive social impact and contributing to the SDGs.

    Read also: Nokia, UNICEF provide digital education to Senegalese children

    The participants of the programme enjoy a range of benefits, such as:

    – Funding: Each startup receives up to GHS 32,000 for product development

    – Partnerships: Access to a wide network of UN System partners

    – Growth: Intense, hands-on practical business acceleration

    – Knowledge: Direct access to resources and social sector programme experts

    The programme also hosts local networking events to celebrate the shortlisted startups for the UK Final, which will be held at the Winter Gardens Empress Ballroom in Blackpool in May. The UK Final is a prestigious event where the winners of the 12 award categories will be announced and celebrated.

    The Application Process and Criteria

    The UNICEF StartUp Lab is open to all startups and businesses from all regions of Ghana, regardless of whether they are UNICEF members or not. The programme is free to enter and has a simple online application process. The deadline for applications is Sunday 11 February 2024.

    The programme welcomes diverse ventures, with a particular focus on empowering women-led businesses. The eligibility criteria are as follows:

    – Your startup has been operational for 1+ year

    – Your startup is a registered business in Ghana (no NGOs, foundations, or individuals)

    – Your startup has technology as the core enabler of the business

    – Your startup has a business model with a social impact that addresses at least one of the SDGs

    – Open-source solutions, or startups that are willing to open-source their solutions, are particularly encouraged to apply

    – Startups with female founders/co-founders are encouraged to apply

    – Startups related to Health Tech, EdTech, Urban Tech, Climate Action, Fintech and WASH are strongly encouraged to apply

    If you are a Ghanaian entrepreneur with a passion for making a difference for children and youth, don’t miss this opportunity to apply for the UNICEF StartUp Lab and join a community of like-minded innovators. For more information and to apply, visit UNICEF StartUp Lab. For more tips and resources on how to start, run, and grow a social enterprise, visit UNICEF Innovation.

    Some Success Stories from the UNICEF StartUp Lab

    The UNICEF StartUp Lab is an accelerator programme that supports impactful startups and businesses working to advance the Sustainable Development Goals for children and young people in Ghana. Some of the success stories from the programme are:

    – Africa Goodnest: an e-commerce platform that helps customers discover and buy quality products crafted by local African talent and entrepreneurs. The startup graduated from the second cohort of the UNICEF StartUp Lab in 2021, and has since expanded its product range, customer base, and social impact.

    – AppCyclers: a waste management company that provides e-waste education, collection, recycling, and upcycling solutions. The startup graduated from the first cohort of the UNICEF StartUp Lab in 2020, and has since secured partnerships with major corporations, NGOs, and government agencies to reduce e-waste and create green jobs.

    – BookNook: an online platform that connects book lovers and authors, and promotes reading culture and literacy. The startup graduated from the third cohort of the UNICEF StartUp Lab in 2022, and has since increased its user base, content, and revenue, while also supporting local authors and publishers.

    – Dext Technology: a hardware company that produces low-cost science kits and curriculum for schools and students. The startup graduated from the first cohort of the UNICEF StartUp Lab in 2020, and has since reached over 100,000 students across Ghana and beyond, and won several awards and recognition for its innovation and impact.

    – Farmula: a digital platform that connects smallholder farmers to buyers and service providers, and provides them with market information and financial inclusion. The startup graduated from the second cohort of the UNICEF StartUp Lab in 2021, and has since grown its network, transactions, and social impact, while also empowering women and youth in agriculture.

    These are just some of the examples of how the UNICEF StartUp Lab is empowering Ghanaian entrepreneurs to create positive change for children and youth. The programme is looking for more innovative and impactful startups and businesses to join its fourth cohort, which will start in March 2024. If you have a solution that can make a difference for the SDGs, apply now and become part of the UNICEF StartUp Lab community.

  • Tech-enabled low-carbon entrepreneurs in Africa get $48.1 million from E3LCEF

    Tech-enabled low-carbon entrepreneurs in Africa get $48.1 million from E3LCEF

    The E3 Low Carbon Economy Fund for Africa (E3LCEF)’s $48.1 million initial close marked a major step towards sustainability. 

    E3LCEF will help scale low-carbon economy-enabled technology and business models by investing in Africa’s next-generation low-carbon entrepreneurs.

    To accelerate African cleantech innovations and create a more egalitarian and resilient global economy, E3LCEF fosters early-stage entrepreneurs and provides follow-on finance.

    Lion’s Head and E3 Capital, which will invest in Africa, coordinated the deal. EAVF’s $75 million is managed by E3 Capital. East, West, and Southern Africa’s 15 decentralized energy enterprises are this fund’s investments. 

    Frontier and emerging market investments are managed by Lion’s Head. It assists governments, multilaterals, and private companies with corporate finance and manages $700 million through a subsidiary.

    Over $400 million has been invested in 30 African nations by E3 and Lion’s Head. Lion’s Head is AIFM, and E3 Capital is the fund adviser for Luxembourg-based E3LCEF.

     Read also: USAID Will Electrify 10,000 African Health Facilities With Renewable Energy

    E3LCEF’s New Investors

    Lion CEO Clemens Calice stated, “We are excited to back a new generation of entrepreneurs.” We think this is a good time to invest in African low-carbon companies with scale potential.

    The E3 team has unique expertise working with early-stage firms throughout the continent, and their portfolio is starting to show signs of definite winners.”

    Paras Patel, E3 Capital’s Founder and Managing Partner, added, “African businesses are starting to emerge with clear product market fit and a strong commercial potential at the core within the low carbon economy.” 

    “We’re witnessing amazing entrepreneurs. We’re passionate about helping African entrepreneurs establish the next generation of inventive firms that innovate, scale, and change our lives. My partner, Vladmir Dugin, and I are grateful to our investors and look forward to working with many new and established companies in the coming months.”

    “With its investment in the E3 Low Carbon Economy Fund I, KfW is investing as an anchor investor in the first fund of the newly formed E3 Capital team,” said KfW Development Bank Director of Equity Finance Stephanie Lindemann-Kohrs. E3 Management and Lions Head are experienced partners who can execute the funds’ investing plan. The Fund’s investments will help Africa attain climate neutrality and equity.

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    E3LCEF’s Africa Goals

    E3LCEF promotes Africa-wide clean energy development and adoption. The fund sees large-scale low-carbon businesses on the continent as early-stage startups.

    E3LCEF also finds and supports creative African enterprises. 

    The fund’s founders are passionate about assisting future business leaders with demonstrable product-market fit and high economic potential in the low-carbon economy. E3LCEF helps these entrepreneurs realise their innovative ideas by giving money and improving lives across the continent.

    The Fund advocates global fairness and climate neutrality. E3LCEF investments will combat climate change and provide Africa with renewable energy. E3LCEF helps creative, scalable, low-carbon enterprises adapt to climate change, grow, and create jobs.

    Africa still needs energy. E3LCEF invests in autonomous energy startups. The fund targets East, West, and Southern African firms. 

    It aims to simplify energy access and provide communities with affordable, sustainable energy. E3LCEF initiatives offered commercial and industrial green energy and pay-as-you-go solar power to rural and neglected communities.

  • NCC to train entrepreneurs on digital literacy Nationwide

    NCC to train entrepreneurs on digital literacy Nationwide

    In line with the Digital Literacy and Skills Pillar of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030 for a Digital Nigeria, the Nigerian Communication Commission( NCC) said it has embarked on digital literacy training for entrepreneurs across the six geopolitical zones of the country.

    Executive Vice Chairman/CEO  of the NCC, Prof. Umar Garba Danbatta, disclosed this during the NCC Special day at the 44th Kaduna International Trade Fair, organised by the Kaduna Chamber of Commerce, Industry, Mines and Industry (KADCCIMA).

    Danbatta, who was represented by Mr Banji Ojo, Head of Consumer Protection and Advocacy of the NCC, said the aim was to equip small-scale business owners with the requisite skills and to generate ideas for the development of products and services that can be exported, to enable Nigeria to compete in the digital space globally.

    Also, he said over the years, the NCC has continued to partner with KADCCIMA  to leverage its trade fair platform to engage telecoms consumers and business owners who are based in North and rely on digital platforms for carrying out their daily personal and official activities.  

    Read also: The Remarkable Growth of Nigeria’s ICT Sector

    The NCC digital literacy training would help SMEs leverage on new technologies

    The NCC vice chairman stated that the current number of active mobile subscriptions in the country reached about 222,571 million while Internet subscribers have exceeded 154.8 million, with broadband penetration standing at 47.36 per cent as of December 2022 and Teledensity of 116.60 per cent.  

    “In Nigeria today, the number of active mobile subscriptions reached about 222,571 million at December 2022 and Teledensity of 116.60 per cent as at December 2022. Also, Internet subscribers have exceeded 154.8 million with broadband penetration standing at 47.36 per cent as at December, 2022. In this new environment, the competitiveness of Nigeria’s SMEs, for instance, depends on their ability to leverage new technologies by acquiring the necessary digital skills to do business on an international scale.”

    “The steady growth of telecoms sector over the years with its pervasive positive impact on all other sectors of the economy in terms of increased automation of processes and digital transformation in service delivery has been remarkable. This, however, would not have been possible without you, telecoms consumers who are using the services daily.

    “To sustain this, therefore, the NCC continues to create a conducive environment that stimulates deployment of robust telecoms/broadband infrastructure for improving the quality of service (QoS) and quality of experience (QoE) for telecoms consumers, be it individuals or corporates. This is because, as a country, we need robust telecoms infrastructure that will help our SMEs to transit to becoming Information and Communication Technology (ICT)-driven if we hope to be digitally competitive on the global stage,” he said.

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    NCC provides the digital stamina

    Danbatta said that the commission recognises the fact that the telecommunications sector has been a strategic driver of the digital economy agenda of the Federal Government and will continue to provide the needed digital stamina to support the economy, especially the activities of the SMEs across Nigeria and beyond.

    According to him, “Information Communications Technology (ICT) is not only one of the fastest growing industries – directly creating millions of jobs – but it is also an important enabler of innovation and development, as it provides the backbone infrastructure for transnational business.” 

    Danbatta noted that NCC’s regulatory efforts in deepening access to digital services would benefit Nigeria and make it competitive with other economies in the areas of job creation; contribution to Gross Domestic Product (GDP) growth; the emergence of new services and industries; workforce transformation; and business innovation.

    “It is in our response to ensuring that Nigeria is competitive in all these areas that the Commission continuously puts a number of regulatory measures in place to ensure seamless access by Nigerians to telecommunications services in order to deepen competitiveness of the Nigerian economy by making our SMEs digitally compliant.” He said.

  • SA Women entrepreneurs secure Naspers and Grindstone accelerators

    SA Women entrepreneurs secure Naspers and Grindstone accelerators

    Finance leaders, investors, and corporate boards are calling for more diversity and a reduced gender gap. Despite managing 40% of SMEs, women receive only 1% of venture capital (VC) investments in Africa. Women-founded companies generate twice as much income per dollar invested as men-founded companies.

    This deficit is now costing countries in sub-Saharan Africa $95 billion per year. In an effort to bridge the gender gap, several programs, such as women-focused accelerators, have been developed to assist more women-led SMEs in becoming investment-ready. Grindstone, an accelerator that has been around for nine years, has just launched one of these accelerators in partnership with Naspers Labs, a youth development initiative.

    Grindstone X Programme

    This South African accelerator is focused on women-led SMEs and will give them professional expertise, helpful networks, money, and markets to make them more investable, scalable, and exit-ready.

    Read also: Women in South Africa’s tech industry earn less pay than men – Women in Tech

    The program will be based on groups of people, or cohorts, and will last for a total of three years, with each group going for a year. In collaboration with Naspers Labs, a youth development initiative run by Naspers, the Grindstone startup accelerator will explore South Africa each year for 10 of the most successful companies in the country that were started by women.

    The Grindstone Accelerator is a structured program for the development of entrepreneurship that provides assistance to innovation-driven businesses in the process of engineering exponential growth. The curriculum gives start-ups access to capital and markets, as well as to the specialist knowledge, networks, and investors that are necessary for their success.

    During the course of the trip, which lasts for a year, the start-up companies will have an evaluation done on their enterprises, and they will get interventions that will help them go through a growth process and transformation in their companies.

    Business strategy reviews, planning for going to market, preparation for funding readiness, networking, business coaching from exceptional coaches (including some of the Grindstone Alumni companies that have successfully scaled their businesses), and financial support from Naspers Labs are all a part of the program.

    “There is so much untapped female entrepreneurial talent in South Africa, and we need to get creative in how to unearth this at scale,” says Grindstone partner Keet van Zyl.

    Innovative corporates, such as Naspers Labs, and programs with a strong track record of engineering start-up development, such as Grindstone, concentrate on personalized interventions for founders that favorably influence their company’s KPIs.

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    Head of Naspers Labs, Mapule Ncanywa, stated, “As Naspers Labs, we are committed to assisting the development of micro-enterprises with an emphasis on young women.” Through this partnership, we aim to help grow the tech sector and the economy by unlocking the potential of female-founded start-ups.”40% of Africa’s SMEs are led by women, yet they get just 1% of VC investment. According to a Boston Consulting Group report, women-led start-ups are more likely to succeed when financed. They provide double the income for every dollar spent.

    Grindstone will prioritize ACI female-founded start-ups, teenagers, people with impairments, and those living in less wealthy areas when recruiting for this goal.

    Knife Capital and Thinkroom Consulting own Grindstone, which prepares African SMEs for market access. Andrea Böhmert, Catherine Young, and Keet van Zyl head a team of business-building professionals that assist participants.