Baobab is an accelerator focused on early-stage startups across Africa, providing funding, hands-on support, and access to a global network. The program aims to assist founders in becoming industry leaders, having invested in 65 portfolio companies across 16 African countries. These companies have collectively created over 1,250 jobs and raised more than $55 million in follow-on funding.
Program Details and Investment
• Initial Funding: Startups receive $100,000 to kick-start their growth.
• Accelerator Program: Founders participate in an intensive 12-week accelerator designed to strengthen product-market fit, improve traction, and prepare for future fundraising.
• Hands-On Support: The program offers hands-on venture support to help perfect positioning and product strategies, along with access to expert partners through Baobab OS for growth hacking and scaling.
• Favorable Terms: The accelerator takes no board seat, promises fast decisions, charges no fees, and provides lifetime access to its networks.
• Long-Term Partnership: Support extends beyond the initial investment, with a commitment to being long-term partners who leverage a global network to assist with fundraising and unlock new opportunities.
• Follow-On Funding: The firm provides comprehensive funding options through co-investment, venture debt, and a dedicated follow-on fund.
Application and Eligibility Criteria
• Application Timeline: Applications are accepted on a rolling basis.
• Organization Type: Only for-profit organizations are eligible for the accelerator program; non-profits cannot apply.
• Startup Stage: The program prefers tech-oriented startups that have developed a minimum viable product (MVP) and have some early traction. Companies at the idea stage should have validated market demand, which can be demonstrated through user sign-ups, a verifiable client waiting list, or other evidence of customer willingness to pay.
• Re-application: Applicants who have been previously rejected are encouraged to re-apply. It is advised that founders address the feedback provided in the rejection before submitting a new application to improve their chances.
Startup Scout Programme
• Program Objective: Baobab runs a Scout Programme designed to identify and uncover promising startups across the African continent.
• How to Join: Individuals interested in joining the Scout Programme are invited to get in touch for more information.
Through its comprehensive accelerator and long-term commitment, Baobab offers a structured pathway for Africa's high-potential startups to secure capital, achieve rapid growth, and scale into successful enterprises.