In a move that heralds a new chapter in African innovation and entrepreneurship development, Innovest Afrika launches with a bold vision to accelerate 5000 African founded startups by the year 2030.
Innovest Afrika is building a vibrant ecosystem of African innovators to drive positive change through entrepreneurship and technological advancement. “We invest in African founders that are building high-potential, high-impact startups wherever they are located in the world,” says Femi Moito, the Founder and President of Innovest Afrika.
The Innovest Ignite Accelerator Program
The first edition of Innovest Ignite accelerator program kicks off in the bustling city of Lagos– a city known for its vibrant entrepreneurial spirit, in February 2024. The 8-week accelerator program will run till March 30th, 2024, concluding with a live Demo Day event where all participating startups will pitch to a panel of Innovest Afrika’s partners and investors.
From the program applications, twelve startups will be selected and will undergo a rigorous curriculum that includes intensive training modules, mentorship sessions, and one-on-one coaching. The top quartile of the cohort participants will receive funding from Innovest Afrika. Innovest Ignite Accelerator – Lagos Edition is currently open for applications. Any early-stage startups located anywhere in Nigeria can apply here.
“The accelerator program is sector and business model agnostic. All pre-seed and seed stage startups are invited to apply,” says Femi. “We will invest in the top quartile of each cohort and ensure that every participating startup is matched with investors that fit their business profile from our extensive investor network” he added.
Innovest Ignite will expand to five additional cities in 2024: Houston, Atlanta, Detroit, Accra, and Nairobi, demonstrating a commitment to regional diversity and inclusivity, and ensuring that accelerating innovation is spread across continents to empower African founders wherever they may reside.
An African Vision to Accelerate 5000 African Founded Startups by 2030
AFRICA is more than just a continent; AFRICA is its people. With a global African diaspora of 350 million, Innovest Afrika’s focus transcends geography. The objective is to reach and empower entrepreneurial Africans worldwide. This is because African founders face uniquely similar funding challenges and opportunities to scale their startups in the global economic landscape regardless of if they are operating on the African continent or the USA. This unique challenge is why Innovest Afrika is looking beyond the African continent to reach African founders wherever they are located globally.
Innovest Afrika mission is clear-cut: Accelerate African innovation by providing entrepreneurs with the tools, resources, and networks necessary for success. This involves not just financial investment but also mentorship, business development tools and support, and access to a global network of industry experts and investors.
Femi states “Despite receiving just 2% of global venture funding Year over Year, African founders have achieved remarkable successes. Unicorns have emerged from African founded startups both on and off the continent. It is evident that African founders are a fountain of untapped innovation and investment opportunities.”
Visionary African Leadership
Femi Moito is driving Innovest Afrika’s ambitious projects. He brings over 20 years of experience working with high growth fintech startups, venture capital and consulting firms. In his previous role, Femi was Head of Africa Markets at Majority, a Houston TX, based Fintech startup.
Femi’s diverse global experience and entrepreneurial mastery began in Nigeria, where he built an agency banking network for a leading fintech startup, playing a pivotal role in the social and economic transformation driven by Fintech’s in Nigeria.
“The impact of Fintech in Africa is astounding. I realized that innovation and entrepreneurship is key to societal transformation,” Femi reflects. This realization fueled his passion for promoting entrepreneurship among Africans as a catalyst for societal change.
His understanding of global market dynamics and insights into the challenges facing African innovators make him an ideal leader to steer Innovest Afrika towards its goals. Femi holds an MBA from Babson College’s F.W. Olin Graduate School of Business.
A Call to Impact
If you’re an African-founder of an early-stage startup with high potential and are eager to scale your startup, join the Innovest Ignite Accelerator by clicking this link.
If you are a successful founder with an exit, an experienced entrepreneur, or a professional with a passion for uplifting African talent and mentoring the next generation of African business leaders, we need you. Click this link to join us.
And if you’re interested in partnering with us in any capacity, I’d love to hear from you; visit us at www.innovestafrica.org for more information about our journey and mission,
Together, let’s unlock the full potential of African innovation and entrepreneurship.
Innovest Afrika Media Team
