Village Capital, with the support of IFC is offering the Future of Work Africa 2021 – an accelerator supporting and scaling startups across Sub-Saharan Africa that help young people find jobs, build careers, and prepare for the future of work.
Africa’s workforce is projected to be the largest in the world in the coming decades, with hundreds of millions of people below the age of 25 starting to look for work. But there are simply not enough quality jobs for this young and growing population. Nearly half of young people on the continent are unemployed, and in some countries, more than four out of five work in the informal sector, with fluctuating incomes and few if any benefits. While agriculture has long been the continent’s top sector, more and more of Africa’s population is moving to urban areas, where jobs in the formal sector are in short supply.
Future of Work Africa 2021 will host two cohorts, each cohort will have between 10 and 15 entrepreneurs. They are not sure yet if the program will be in person or virtual. A decision will be made as we approach the workshop dates.
Worth of Award
Opportunities to network and receive mentorship from investors, strategic partners, founders, and business leaders.
Build deep connections with other founders in your track and our larger Village Capital investor and alumni network. Participate in mock board meetings with representatives from relevant institutions, corporates, and investors that can help their organization scale.
Interactive workshop weeks tailored to help their company identify early milestones and prepare them for their next round of capital (if relevant). All selected companies will receive post-program support from the Village Capital team.
One-on-one coaching with an investment analyst focused on building a financial model, identifying unit economics, and on using financial metrics to drive both their business and investor diligence.
Exposure on Village Capital’s program website and other communications collateral.
All selected companies will be screened for eligibility to receive funding from the Impact-Linked Fund for Gender-Inclusive Fintech
Eligibility
- Must be a for-profit entity and have operations in a Sub-Saharan African / MENAT / South & Southeast Asian country
- Market-based solution that tackles the above listed challenges or has the potential to serve migrants
- Have at least a minimum viable product (MVP) and some traction under their belt. Relaxation may be made for products in development if value proposition showcased is considered strong
- Have meaningful customer or business validation (not limited to revenue, can also be successful pilot studies, number of users, and/or strategic partnerships)
- Companies with founders of diverse backgrounds and products with a focus on women migrant consumers will be preferred
How to Apply
You can apply online via the official website
Deadline: The application closes on January 6, 2023.