Pan-African incubator Unicorn Group launched its fourth incubation program for entrepreneurs across the continent.
This incubation program will run concurrently across six African countries -Nigeria, Ghana, South Africa, Kenya, Uganda, and Egypt. Finalists in the catchment countries will be incubated in the Unicorn group’s facilities, while those from neighbouring counties can participate remotely following justification and prequalification.
Unicorn Group is focused on empowering start-ups and early stage companies with business advisory services, access to industry experts and mentors, management & leadership training, interactive work spaces, networking, and venture capital financing to companies in the technology & technology-enabled sectors.
According to Unicorn Group, enrolment will continue until 1 May 2022. Incubation Go-Live is June 01, 2022 – August 26, 2022 (12 weeks).
In the entries, applicants must demonstrate: who they are, what they want from the programme, and why they should be considered.
A statement released by the Unicorn Group reads: “With the significant rise in companies with robust, diverse, and scalable business models, Unicorn group is committed to enabling the ecosystem of entrepreneurs with access to funding, training & education, world-class mentorship, and infrastructural support amongst others. This ambition is reinforced in our decision to expand our reach even further for the first time.”
“The Unicorn Group enables Africa’s prosperity through entrenching catalyst tools for regional and national economic development. It continues to spur innovation and empower entrepreneurs who defy the odds, identify, and build sustainable yet competitive businesses that foster the required growth for Africa.”
Investment flow
Investment into the African tech start-up ecosystem trebled over the course of 2021 that saw total funding pass the US$2-billion mark for the first time.
This is according to the seventh edition of the annual African Tech Startups Funding Report released by Disrupt Africa in partnership with Novastar Ventures, MFS Africa, Quona Capital, 4Di Capital, MEST Africa and Future Africa.
The report states that overall, 564 start-ups raised a combined US$2,148,517,500 in 2021. The number of funded start-ups grew by 42.1% on 397 in 2020, and the funding total was more than treble – up 206.3% on the US$701,460,565 banked the previous year.
ITWeb reported that at the virtual SingularityU South Africa Summit 2021, it was stated that Africa’s booming tech start-up sector is seeing shifting behaviour in venture capitalists (VCs), which are increasingly turning a blind eye to businesses not focused on social consciousness.
This comes as social conscious capital gains momentum on the continent, as funders specifically search for start-ups that have high environmental, social and corporate governance (ESG) standards.
