HomeTechnologyMicrosoft partners with VCs, accelerators to back 10,000 startups in Africa –...

Microsoft partners with VCs, accelerators to back 10,000 startups in Africa – TechCrunch

Microsoft has at present introduced plans to help 10,000 startups in Africa over the subsequent 5 years by a collection of initiatives together with partnerships with accelerators and incubators throughout the continent.

It additionally introduced plans to associate with enterprise capital buyers to enhance funding entry for startups in Africa by unlocking $500 million in “potential” funding. Microsoft stated that it’s already working with Banque Misr, Global Venture Capital and Get Funded Capital.

These initiatives can be carried out by the lately established Africa Transformation Office (ATO). The ATO drives Microsoft’s strategic initiatives in Africa by partnering with private and non-private organizations.

“Our goal in establishing these partnerships with venture capital investors is to extend the network of potential partnerships between Microsoft, venture capital investors and startups, thereby increasing the funding made available to eligible startups,” stated Gerald Maithya, Startups Lead, Microsoft Africa Transformation Office.

Microsoft stated that it was creating partnerships with accelerators and incubators like Grindstone, Greenhouse, FlapMax and Seedstars to present markets, technical abilities, and funding alternatives.

Microsoft’s world Founders Hub, a self-service hub offering startups with quite a lot of assets and entry to mentors, may even be obtainable to African startups. The Founders Hub additionally consists of alternatives to co-sell to Microsoft’s company and enterprise clients.

“There is huge potential for Africa to become a thriving hub of digital innovation on the global start-up landscape. Our ambition is to see an explosion of local inventions that will contribute positively, not just to Africa’s digital economy, but to global society,” stated Microsoft Africa Transformation Office managing director, Wael Elkabbany.

Microsoft joins the rising listing of tech corporations like Google, that are developing with initiatives concentrating on startups in Africa. Last yr, Google launched a $50 million Africa Investment Fund concentrating on early and growth-stage startups on the continent, succeeding its Google for Startups Accelerator Africa program.

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