Application Deadline: May 5, 2024
OceanHub Africa, the continent’s leading enabler of ocean-impact entrepreneurship, has announced the launch of its fifth accelerator programme.
The Pan-African accelerator is on the lookout for startups that contribute positively, either directly or indirectly, to ocean-related matters to apply for its 8-month program.
OceanHub Africa has achieved success in aiding its portfolio of 32 startups in securing $10 million in funding since 2020, enabling them to expand to various countries and enhance their economic, social, and environmental impact.
This year’s program is scheduled to commence in July and will feature an in-person bootcamp in Cape Town.
The program will provide training in investment readiness, access-to-market strategies, pitching techniques, and ocean-impact measurement and management. Selected entrepreneurs will also benefit from personalized guidance from prominent mentors and industry experts until their graduation, coinciding with Ocean Innovation Africa, the accelerator’s international summit dedicated to promoting innovation and entrepreneurship in the African ocean sector, in late February 2025.
Eligible startups must exhibit a positive impact on ocean sustainability, operate within Africa, be for-profit entities, offer a scalable product or service already available on the market, and demonstrate clear innovation and/or possess a disruptive business model.
Selection Criteria
Impact & Vision
- Positive Impact on the ocean
- Aligned vision with OceanHub Africa
Business Model
- Market & Traction
- Commercial Value
- Strategy for growth & scalability
Team
Expertise & Background
Ambition & Passion
Technology
- IP Owned
- Reliability
- Innovation
- Adaptatibility & Scalability
Timelines
- 23 March – 5 May: Application period
- 11 April & 22 April: Online Q&A Sessions
- 7 April- 19 May: Screening of the applications
- 21 May: Announcement of short-listed start-ups
- 23 May – 31 May: Pitching preparation for shortlisted candidates
- 5-6 June: Pitching session in front of the final selection committee
- 13 June: Final selection and announcement to Selection Committee.
- 28 June: Limit date to sign contract and Public announcement of start-ups selected
- 4 July: Program starts for 8 months with an online kick-off session
- 9-13 October: In-person Bootcamp in an African capital city (TBA)
- First Quarter 2025: Graduation in-person during the Ocean Innovation Africa Summit (exact dates to be confirmed)
What we expect from entrepreneur(s):
- Availability (at least 1.5 full-time equivalents dedicated to the project).
- Limited commitment to other support programs concurrently.
- Transparent communication and cooperation.
- Involvement of at least 2 key C-level team members in the acceleration program.
- Commitment to cover the travel expenses (airfare and visa) for 1 representative attending the in-person bootcamp and Ocean Innovation Africa. Accommodation and food support will be provided.
- Reporting to OceanHub Africa and other stakeholders.
- Success fees of up to 3% on subsequent fundraising (over the program duration + 2 years) and up to 10% on commercial contracts secured through OHA’s introductions
Click HERE, to apply
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Disclaimer: Edfrica does not have direct influence nor guarantee the outcome of this application following the support you receive from us.
