IFC selects 100 African startups for support programme

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The IFC has selected 100 companies to take part in its Next Startups programme, which will provide up-and-coming small businesses with funding and advice.

Disrupt Africa reported in October on the launch of the initiative, which is being run by the IFC in cooperation with Egypt’s Ministry of Investment and International Cooperation.

Designed to spur innovation and job creation across the African continent, the programme connects startups with potential investors, financial institutions, business leaders, and policymakers.

It is designed to support the continent’s budding startup culture and create opportunities for entrepreneurs, who often struggle to secure growth capital and have few places to turn for guidance.

Selected startups include Vezeeta, Avidbeam and Next Protein, with all 100 startups to attend the Africa 2018 Forum in Sharm El Sheikh, Egypt, which begins today.

“Africa is brimming with entrepreneurs whose drive and creativity have the potential to transform the industries in which they work,” said Philippe Le Houérou, the IFC’s chief executive officer.  “With the right support, African startups can help create the high-quality jobs that are so urgently needed while reducing poverty and finding solutions to some of the continent’s most urgent challenges.”

More than 500 business from 35 African countries applied to be part of the program. The companies selected represent those with the greatest potential to achieve a positive impact on their communities. They come from across the African continent, and operate in a range of sectors, including education, health care, logistics, and software.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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