Applications open for ALN Ventures – pan-African accelerator
12The African Leadership Network (ALN) comprises of over 1,000 of dynamic and influential emerging leaders in Africa, including some of Africa’s most influential young CEOs. ALN is harnessing the collective influence of its network, through the launch of a new accelerator programme – ALN Ventures.12
ALN Ventures is a pan-African accelerator for early-stage businesses. It aims to support the next generation of promising entrepreneurs and startup champions via a 9 month accelerator programme. The programme includes $20k in direct cash support, mentorship and investment from leading African business people, and advisory and back-office services.
ALN have told us that the best applicants for the programme should have the ambition and ability to grow their ventures to be multi-million dollar businesses. Specific criteria are that the business must have at least one full-time founder, have been operating for less than 2 years, and have received less than $250k in outside funding. Applications for their inaugural class of January 2015 are being considered on a rolling basis – so the sooner you apply, the better your chances of acceptance.
This 9 month accelerator has 3 stages:
Stage 1 (months 0-3): Selected entrepreneurs attend a short intensive business building workshop in ALN Venture’s Johannesburg co-working space. Most of the duration of the programme is later spent in the entrepreneur’s home market.
Stage 2 (months 3-6): Those entrepreneurs who have successfully completed Stage 1 and have hit all their milestones proceed to Stage 2 of the programme, with $20k in seed capital.
Stage 3 (months 6-9): Venture Fellows focus on investor readiness and expansion planning. The programme culminates in a high-profile showcase to the entire ALN community at the ALN Annual Gathering, giving startups an opportunity to get media attention and potentially secure top-up financing.
Check their web site for details of the offering and eligibility requirements. The ALN Ventures team also offers half-day intensive workshops, which are an opportunity to meet the team and learn more about the organisation. Keep an eye on their events page for details.