They want you to apply to their new accelerator programme.
ALNV is an extension of Fred Swaniker’s African Leadership Network. Originally a pan-African gathering of business leaders, one of the network’s stated goals is developing and promoting African entrepreneurship. ALN’s major premise is that the members of its 1400-strong young leader community, 60 percent of whom are MDs and CEOs across the continent, are eager to invest their time and resources into the next generation of African business leaders.
According to the ALNV website,
“We identify the most outstanding early-stage African start-ups with major growth ambitions, prepare them through a tailored program, and connect them to the immense financial and social capital (mentorship, relationships, potential customers, and more) that exists within ALN”.
The are some basic criteria for ALNV accelerator eligibility. The venture should be an African business which could be based in Africa, or primarily targeting the African market. Full-time founder/CEOs are a requirement. The venture cannot be more than two years old, and should have raised no more than $250,000 in capital to date.
One more thing to note about ALNV is that it’s not just tech-focused. The emphasis is on businesses with pan-African or regional dreams. ALN Ventures is aggressively courting promising entrepreneurs from across, and is not afraid to seek them out wherever they are, even on Twitter.
Applications into the inaugural class of January 2015 are already open. On acceptance, the entrepreneurs commence a 9 month programme.
“The Ventures programme consists of a 6-week session in Johannesburg, where members of the cohort from across Africa will meet, support one another and refine their business models. The following seven months will be spent back in the home markets, progressing past milestones and preparing for ALN’s Annual Gathering. Over the course of the whole nine-month programme, ALNV will support participants in approaching members of ALN to secure seed financing.”
The whole enterprise culminates in October 2015, at the ALN gathering. It is at this gathering that ALNV accelerated startups will get the chance to meet investors from the network.
ALNV does not provide cash however, but rather, access to its pedigreed network with a committed pool of funds for the purpose. The network will take single digit equity in the startups it supports, “to sustain alignment”, it says. The actual amount is determined on a case by case basis.
This is only the second time we are encountering cashless acceleration, it’s a model we’re observing with keen interest.
More information is available on the ALN Ventures website.
