Innovate Accelerator Program – 2022

Supercharging Somali Startups since 2012

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Are you an early-stage startup based in the Somali region?
Are you working at the cutting edge of innovation, or developing a tech-enabled product or service addressing a big local need?
Are you passionate about your business idea? 

then you have the chance to be one of our superstar graduates in the 2022 Accelerator!

About the program
Innovate Ventures is the leading Somali startup accelerator and technology fund. The program partners with VC4A, Telesom, and Oxfam as part of Work in Progress! Alliance. To date, the program has graduated over 100 start-ups and has invested almost $200,000 in its graduates. As part of the acceleration package, you will receive training, mentorship by domain experts, access to an extensive business network, visibility, and a chance to get investment.

Scroll down to know more about the program partner, the benefits, and the eligibility criteria. 

Overview

15
Closes May 31, 2022
OrganizerInnovate Ventures
Website Visit website
Targets Somalia
Sectors Sector agnostic
SDG (17)All

About Innovate Ventures

About Innovate Ventures:
Innovate Ventures is the leading start-up accelerator and technology fund in Somaliland and Somalia. Innovate Ventures was created to propel and accelerate technology startups in Somalia and Somaliland, support the next wave of Somali entrepreneurs, and grow the nascent startup ecosystem in the country. Innovate Ventures have run coding camps, incubators, and accelerators in the Somali region since 2012.

About Work In Progress! Alliance: 
The Work in Progress! Alliance is focused on unlocking the economic potential of young women and men in Egypt, Nigeria, and Somalia. The project aims to enable them to generate sustainable and living incomes – by finding regular employment or starting enterprises. Alliance partners include Oxfam, VC4A, and Butterfly Works.

About VC4A: 
VC4A is a platform for startup funding dedicated to building game-changing companies on the African continent and supporting the growth of Africa’s startup ecosystem.

About Telesom:
Telesom Company is the largest and leading telecommunication services provider in Somaliland, founded in 1999, and collaboration with more than 230 shareholders. The company officially operated in November 2001, at the same time, the sole has opened centers in regions of the country, and issued a new autonomous services company in the nation to offer. It is the company’s biggest and most people use it in Somaliland.

Benefits

What do you get from the program?

  • 12-week intensive training and mentoring on business and operational skills
  • Access to our vast network, including leading banks 
  • Pitching in front of local and international investors 
  • Features in local and international media
  • Equity funding for 3 startups of up to USD 20,000 

Eligibility criteria

In order to be eligible, your business needs to be:

  • Based in Somaliland or Somalia.
  • Technology-oriented.
  • The founders are between 18-35 years old.
  • The founders are committed to attending the accelerator program in Hargeisa.

The Process

Complete the application form before 25th May to qualify for the accelerator program. You will hear back from the Innovate Ventures team within four weeks about whether your startup has been selected.

If selected, you will be asked to participate in our 1-week pre-accelerator bootcamp. After the bootcamp, 12 startups will advance to the main program. The program will take place in Hargeisa.

The program will conclude in a Demo Day, where startups will pitch to a room full of local and international investors and media. The top 3 startups will receive up to $20,000 in equity investment from the Innovate Ventures Fund.

Submit your application today!

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