Tech based investment is growing at a rapid rate in Africa based on a new cadre of both leaders and solutions. However, both investors and entrepreneurs face challenges in making a match. Investors feel that there is a lack of investable opportunities, whilst entrepreneurs find it difficult to secure investment opportunities.
Accelerators are meant to address this gap by getting businesses ready for investment, facilitating investment opportunities, and providing other critical support. However, access and resources are often barriers for entrepreneurs, particularly for those who live outside major centres and cannot afford to participate in an accelerator programme. For accelerators, the relatively high cost per participant remains a challenge. This is magnified when an accelerator attempts to scale by increasing the number and geographic reach of their participants.
The TechTribe Accelerator's multifaceted approach aims to address some of these challenges. It has designed a set of investment readiness modules, which take the entrepreneur through a structured seven-month process that builds out each component of their business's investment case. The modules are delivered via an online learning management system that is accessible to entrepreneurs irrespective of geography; as long as they have access to a reliable internet connection. TTA will also offer virtual mentorship to select entrepreneurs, by drawing on its multi-country network of expert mentors. Mentors will provide guidance and feedback as the entrepreneur completes each module. This infuses an irreplaceable human element to the acceleration journey.
An online peer network will complement the accelerator experience by encouraging peer-to-peer learning and engagement. In addition, TTA will share investment opportunities with each cohort and provide access to closed deal rooms.