FMO has partnered with VC4A to work with local partners across Africa to create a more efficient network of support for early-stage ventures. VC4A will work with incubators, accelerators, and other entrepreneur support organizations, along with investors, mentors, corporates, and more to further develop and streamline the pipeline of startup opportunities in Ghana, Morocco and Tanzania. Ultimately, this will help increase investment flows into startups from these countries and strengthen nascent venture capital ecosystems.
While significant resources are available to entrepreneurs and startups, there remain key gaps in the support being offered. Specifically, VC4A works with local partners to strengthen support for ventures by developing critical linkages with industry experts, mentors, regional and international platforms to engage investors and secure more follow-on capital for ventures to successfully scale.
VC4A has an extensive partner network of ecosystem-building entities across the globe, with 1,800 partner organizations active in the African startup ecosystem, and 450 active mentors on the VC4A mentorship marketplace and a network with more than 2,000 Africa focused early-stage investors. The organization focuses on linking entrepreneurs to opportunities for development and growth, especially for those that do not have equal access and/or would stand to benefit from better access to resources, networks, knowledge and capital.
FMO will help VC4A extend its integrated approach to providing entrepreneurial support services to more geographies, including Ghana, Morocco, and Tanzania. The project objectives are to enable:
more youth and entrepreneurs to access business networks and acquire necessary skills and information to start, run and grow theirbusinesses;
local entrepreneur support organizations to strengthen their programs and offerings to support local innovation and the development of an early-stage investment pipeline; and,
private sector linkages to better access, support, and finance innovative high growth high impact businesses.
This project is funded through the Entrepreneurial Ecosystem Building component of the FMO Ventures Program Technical Assistance Facility, co-funded by the Dutch Government and European Union. This component seeks to foster the maturity of the venture capital sector in targeted emerging markets by improving services of incubators, accelerators and other entrepreneurial support organizations, as well as enabling more early-stage financing for ventures.
Marieke Roestenberg, FMO’s Ventures Program Manager, said: “We are thrilled to partner with VC4A to support and grow the activities of incubators, accelerators and other entrepreneur support organizations in the African VC ecosystem. Increased collaboration and better alignment of resources across the emerging VC industry in Africa will help contribute to more thriving ecosystems, including those beyond the main tech hubs.”
Ben White, VC4A Founder and CEO, said: “With FMO, we are keen to expand efforts in Ghana, Morocco and Tanzania. We have many great partners in these countries working hard to develop exciting high growth, high impact ventures now ready to break into the international arena. Our aim is to deepen our partnerships and collaborations in these three important countries and to help drive resources into these ecosystems, further showcasing the many innovative startups and impressive entrepreneurs.”
VC4A is an ecosystem builder that leverages its infrastructure, network and expertise for the programs that contribute to Africa’s startup movement. Since 2008, the organization designs, structures and implements successful entrepreneurship programs on the continent. VC4A runs an online platform featuring the world’s largest database of African startups and connecting local entrepreneurs to learning resources, mentors, investors and partner programs. Visit VC4A.com for more information. For more information about VC4A, please visit: www.vc4a.com
For more information, journalists are welcome to contact:
Josh Asmah, Corporate Communications Officer | J.Asmah@fmo.nl | M +31 6 25 19 07 21