Catalyze has recently launched a program called the Africa Tech Start-up Forum, funded by the African Development Bank- ADB and Korea Africa Economic Cooperation- KOAFEC. This initiative aims to train and connect 160 African tech ventures from eight African countries, namely Morocco, Egypt, Nigeria, Ghana, Rwanda, Uganda, Kenya, and South Africa.
Africa
This is a pilot project that will be implemented in specific phases according to Managing Director for Catalyze, Rex Bowden. “We will start this pilot project with 8 countries first. This is for reasons of managing it well financially under a small group of countries and to be able to provide a desired output with adequate objectives. The scope at the launched focused on Resource Allocation, Strategic Impact Feasibility, Learning and Adaptation, Partnership Opportunities and Proof of Concepts.”
Fostering growth
This program is free to join and Catalyze does not take any equity. They are solely focused on fostering the growth of the African tech ecosystem. Additionally, the top 20 participants will have their travel expenses covered for a two-week study tour in Korea in December, where they will have the opportunity to connect with investors.
“The’ll be 2 Cohorts. A shortlist of 20 Tech ventures will be made from the 160 of the 8 countries. That will be followed by 120 days of training, a trip to Korea. In Korea, the travelers- Tech ventures that are shortlisted will get an opportunity to meet potential investors. The’ll be 2 demo days and an Investor Day. ” added Bowen
Partners
Candidate Manager for Africa Tech Startup Forum, Penny Persadh says they have 4 partners. “This initiative is supported by a partnership of 4. Each partner has its own responsibilities. There is Ndara Works, Korea Start Up Forum- KSF, UVU Africa and Catalyze.”
Ndara Works is an economic development consultancy that nurtures innovative business ecosystems. Korea Start Up Forum (KSF) stands as Korea’s largest startup membership organization and also organizes the Come-Up Korea Event. UVU Africa is dedicated to promoting inclusive growth in the African digital economy through business incubation, acceleration, skills development, and the establishment of specialized innovation clusters across the continent. Catalyze specializes in international events and business matchmaking as an engagement agency.
Persadh concludes by saying that they are excited about this forum and start- ups are awarded more time to register. “Deadline for applications has been extended till the 10 May 2024.”
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