Tech

Village Capital partners Norad to launch climate-focused programme in Africa

Published

7 months ago

April 30, 2024

Accelerator programme facilitator, Village Capital, has struck a partnership with Norwegian development agency, Norad, to launch an an ecosystem-building programme aimed at strengthening the capacity and impact of Entrepreneur Support Organisations (ESOs).

The programme known as “Empowering Sustainable Entrepreneurship Africa”, is a climate-focused project which will test-run in Ghana, Kenya, Malawi, Mozambique, and Tanzania, before spreading to other countries in Africa.

According to Rachel Crawford, the Leads Special Projects Director at Village Capital, the initiative will adopt a dual-track approach, firstly equipping community-led ESOs with the technical expertise and resources necessary to foster sustainable growth within their organisations.

She added that the programme will “directly support climate-focused ventures in the priority countries while cultivating a long-term pipeline of high-growth, investable startups advancing solutions in critical areas such as the blue economy, climate adaptation, food security, and renewable energy.”

“ESOs play a crucial role in the entrepreneurial ecosystem, serving as the first line of support for entrepreneurs, acting as both trainer and convener of essential networks such as investors and talent, especially in emerging ecosystems,” Crawford said.

“However, these same ESOs typically operate as the startups they support and often lack the final piece of the puzzle – capital to deploy directly to startups.

“Village Capital aims to address each of these three needs through our unique initiative design by leveraging ecosystem development, enterprise support, and catalytic capital.”

Also speaking on the collaboration, Per Fredrik Ilsaas Pharo, director of Climate and Environment at Norad, said his organisation was excited to partner with Village Capital on Empowering Sustainable Entrepreneurship Africa.

“Entrepreneurs and startups with innovative ideas and services have an important role to play in contributing to the Sustainable Development Goals.

“Today such actors often lack access to financing and technical support due to a number of barriers. We hope that by strengthening the entrepreneurial ecosystem through ESOs, some of these barriers will be overcome.

“This partnership is also exciting for us in that it is multi-sectoral, working on blue economy, renewable energy, food security, and climate adaptation, to deliver the best possible total contribution to innovation and entrepreneurship in Africa,” he said.

Village Capital has operated in Sub-Saharan Africa since 2012, running over 14 accelerator programmes and serving entrepreneurs in 15 countries in the region, while Norad, works with partners across the world to help achieve the UN’s Sustainable Development Goals.

Related Topics:Accelerator Programme Featured Norad Village Capital

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Tech

Bolt invests $107m in Nigeria to boost safety standards

Published

12 hours ago

November 14, 2024

Isaac Dachen

Ride-hailing platform, Bolt, has announced an investment of $107 million in its bid to boost safety and service quality in Nigeria’s ride-hailing sector, with a special technology enhancing safety standards for both drivers and passengers.

Lola Masha, Bolt’s Regional Manager for North and West Africa, who made the announcement in a statement, said the “investment will fund new safety technologies, accident prevention measures, customer support upgrades, and public safety awareness campaigns, underscoring Bolt’s commitment to providing a secure and reliable platform.”

She revealed that as part of its quality check, the company had removed more than 5,000 drivers from its platform in 2023 so as to cleanup its database cleanup effort and will continue to implementing a driver score system to maintain quality standards.

“The driver score evaluates performance by monitoring how frequently drivers accept ride requests, successfully complete trips, and respond to passenger feedback. Essentially, it rates drivers based on their performance over their last 100 trips,” she noted.

Masha emphasized that the move came as a result of complains by the Amalgamated Union of App-based Transporters of Nigeria (AUTON) which raised concerns about the potential downsides experienced by users and the psychological stress on drivers, which could negatively affect their performance.

According to her, among the upcoming features are a four-digit trip pickup code and a trip counter, both aimed at making rides more secure and dependable for all users.

Tech

Egyptian VC Flat6Labs partners ITIDA to launch programme for tech startups

Published

2 days ago

November 12, 2024

Isaac Dachen

Egyptian Venture Capital firm, Flat6Labs, has partnered with Egypt’s Information Technology Industry Development Agency (ITIDA) to launch an InvestIT programme which will offer tech startups in the country, particularly at the seed or pre-Series A stages, access to consultancy, tools, and investor connections to help them scale operations and enhance global competitiveness.

The programme, according to Egypt’s Minister of Communications and Information Technology, Dr Amr Talaat, will be run by the Technology Innovation and Entrepreneurship Center (TIEC), a subsidiary of ITIDA, and will support startups across various governorates, encouraging innovation and growth in Egypt’s digital economy.

“Through two phases, it will prepare startups for investment with tailored training sessions and workshops, followed by connecting them with local and international investors,” Talaat said in a statement.

“The Egyptian government remains steadfast in its dedication to cultivating a thriving tech startup ecosystem. We are rolling out diverse initiatives to equip entrepreneurs with essential skills, attract global incubators, and facilitate connections between startups and investors.

“By establishing Digital Egypt innovation hubs nationwide, we empower innovators to transform their ideas into successful ventures.

“Alongside this, we are streamlining processes and investing in advanced digital infrastructure, positioning Egypt among the top three countries in the Middle East and Africa for tech startup investments,” the Minister said.

Flat6Labs founder and chairman Hany El Sonbaty, who also spoke on the initiative, said the launch of the InvestIT programme has further expanded his company’s support for Egyptian entrepreneurs.

“This programme is not just about preparing startups for investment; it’s about equipping them with the tools and connections to scale their impact.

“Through our collaboration with ITIDA and TIEC, we’re committed to building a strong, vibrant ecosystem where startups can make a real impact on the tech landscape in Egypt,” he said.

The programme, he said, will support 12 startups over six-to-eight months with each startup receiving tailored consultancy services to enhance their investment readiness and assist with setting up data rooms and preparing for investor engagements.