TechTribe Accelerator has developed a seven-month online investment readiness accelerator, to get tech and IP driven ventures ready for expansion and funding.
Entrepreneurs that are focused on addressing the challenges highlighted by the 17 Sustainable Development Goals (poverty, education, healthcare, gender equality, food security, financial inclusion, energy, water, and other climate action, etc), have an important role to play in manifesting more equitable and resilient societies.
Applications for the first cohort closed on the 24th November 2019. In January 2020, at least 100 ventures will be selected to participate in the seven-month online accelerator; 30 of these will be awarded virtual mentorships. The TTA’s first cohort will include ventures from seven SADC countries.
1. The Programme
The accelerator will offer entrepreneurs support and equip them with the skills, knowledge and tools required to secure investment for their business.
The entrepreneur will undergo a structured learning journey which includes 9 modules:
Understanding investment readiness;
Building an impact model;
Understanding the target market and developing the value proposition;
Marketing, sales, distribution and partnerships;
Financial model, including value chain analysis, cost structure and revenue streams;
Pitch development & readiness; and
Writing an investment case to secure funding.
In addition to these, the accelerator has two other components that will enhance the entrepreneur’s experience; an online peer network and virtual mentorship.
2. Online Peer Network
The network is multi-purpose; it serves to:
Bring participants together and encourage peer-to-peer learning during the Accelerator;
Foster a vibrant and engaged community of practice that continuously shares key learnings;
Share opportunities and knowledge;
Facilitate mentor/ entrepreneur engagement; and
3. Virtual Mentorship
During the first cohort thirty ventures will be selected and awarded a mentorship for the duration of the accelerator. Expert mentors will provide guidance and support to entrepreneurs, as they work to complete each component of their investment case.
4. Structure & Delivery
The Accelerator will begin in early 2020; each module will be delivered over a period of just over two weeks and in the following sequence: instructional content delivered; assignment submission; webinar; assignment review, edit, revert & finalisation. The structure has been designed to combine expert mentorship, peer-to-peer learning, and pragmatic assignments that provide the basis for developing an investment case for support.
The expected outcomes of the programme are:
Improvement in business skills;
Access to a strong peer and mentor network;
Increase in financing; and
6. Selection Criteria
Tech businesses that meet the following criteria, are encouraged to apply:
Contribute towards addressing one or more of the Sustainable Development Goals;
High growth potential;
Multiple sectors and industries, such as: health; biotech/ PlantBio; energy; water; education; govtech; agriculture; mobility; smart cities; financial inclusion, and the broader green economy; amongst others; and
Operate in one of the following countries: Botswana, Lesotho, Malawi, Namibia, South Africa, Tanzania and Zambia.
Entrepreneurs that seek to increase the prosperity of the poor or excluded, reduce inequality, and have an intent to improve Africa's wellbeing; are the type of entrepreneurs that TTA is seeking.
The primary criteria that will be used to shortlist the applicants will include, but not be exclusive to:
The strength and experience of the management team and the precedent set by the team in terms of co-operation, achieving business goals, as well as developing a cohesive value proposition;
Ability of the business to be commercially viable and create long term and sustainable value through social/environmental impact;
The social/environmental issue the business is addressing. How material is this issue and what impact will the business have on it;
Is the business model scalable and replicable; and
Likelihood of the business to benefit from the programme and support other businesses participating.
Please note that this programme is not for entrepreneurs that are at the idea/ concept stage.
The selection process will function as follows: The Selection Committee will review all the applications submitted against the outlined criteria. Shortlisted applicants will be contacted and if necessary, additional information will be requested and an interview arranged as part of the final phase of the selection process.
Key dates: Applications: 2020 cohort closed for applications Successful applicants informed: January 2020 Accelerator starts: February 2020 Accelerator ends: end of July 2020 Selected entrepreneurs will be invited to pitch at the 2020 SA Innovation Summit in September.