Startup Wise Guys, Europe’s most experienced startup accelerator and one of its most active early-stage investment funds, has opened applications for the second batch of its B2B SaaS startup accelerator in Africa.
As the first batch of Startup Wise Guys SaaS accelerator in Africa comes to a close this summer, anticipation for a sequel has been running high. The pan-African program is the first of its kind for early-stage, B2B startups, and application numbers were quite strong, with 360+ applications in the first batch, mostly from Nigeria (39%) and Kenya (23%). (In comparison, even established SWG programs in Europe typically receive around 200 applications.) Total VC investment in Africa is on a rising trend, with 2021 more than doubling 2019 amounts, but early-stage support continues to lag.
As with the first iteration of Startup Wise Guy’s B2B SaaS Africa program, the new accelerator is looking to empower digital startups that already have an MVP, some initial customer traction, and at least two founders.
The selection committee will be looking for promising companies working in FinTech, AgriTech, EdTech, CleanTech, HealthTech, and RetailTech sectors. English-speaking startups from across Africa are encouraged to apply, and the committee will be giving particular focus on Nigeria, Ghana, Kenya, Rwanda, and Uganda.
Adia Sowho, SWG Venture Partner and CMO at MTN Nigeria had this to say: “I see a SaaS-first future in Africa. This makes SWG’s experience building and scaling 300+ SaaS startups – coupled with the extended support in their accelerator – critical for seed-stage startups.”
For a second time, selected startups will be invited to participate in a five-month intensive accelerator that will combine online modules with local and international mentors and experts. Several selection bootcamps will take place prior to the closing of applications.
These bootcamps are a chance for promising startups to compete for a chance to pitch in front of the program General Partners and the SWG team. Startups in the main accelerator program will be invited to finish with a graduation day event, giving them access to regional and international investors.
Selected startups will be invited to participate in a rigorous, online accelerator that includes up to €65,000 investment for a maximum of 12% equity. The program is the first-ever pan-African, SaaS-focused accelerator, and batch number two is set to begin on 10 October 2022.
