MultiChoice Expands its Startup Accelerator to Ethiopia

ADDIS ABABA – MultiChoice Africa has expanded its start-up accelerator program to eight more countries including Ethiopia after a successful launch in South Africa.

The entertainment company says many more small businesses in Africa’s technology sector now have the chance to benefit from the 2023 program, which secured $16 million of funding for six emerging businesses last year.

“We’re really excited to be expanding the MultiChoice Africa Accelerator Programme to more African countries,” said Calvo Mawela, MultiChoice Group CEO, announcing the launch.

“It’s part of our long-term commitment to growing and multiplying Africa’s technology potential, which is critical to our future growth.”

The Accelerator Program which started in South Africa last year is aimed at established start-ups and small enterprises in specific technology sectors, including health tech, agri-tech, fintech, edu-tech, the circular economy, and the creative industries.

Apart from Ethiopia, the Accelerator is expanding to Ivory Coast, Senegal, Nigeria, Ghana, Kenya, Zambia, Angola, and Ethiopia.

“There is such incredible business talent across Africa,” said Mawela. “MultiChoice Africa Accelerator is an opportunity for investors and small enterprises to collaborate to multiply the impact of this talent and scale it across Africa.”

The initiative equips emerging entrepreneurs to secure funding and scale up their businesses, and also provides opportunities to pitch to international investors.

The Program is an initiative of the MultiChoice Innovation Fund, in collaboration with Dubai-based business incubator Companies Creating Change (C3), which gives entrepreneurs access to the tools, skills, and financial support to grow their businesses.

MultiChoice has also partnered with EOH, a tech services company that will bring its expertise to the table, especially in terms of tech advisory, development sprint, and technical support.

The first phase of the Program sees public and private-sector partners in each country nominating businesses or entrepreneurs for the program. From there, 29 of the start-ups embark on an intensive virtual training course.

The initiative is aimed at established businesses that are already operating and looking to scale up by attracting further investment.

“Start-up founders get to learn everything from how to properly research your business sector and your market, to how to create a niche for your business,” said Boitumelo Monageng, of Swypa, one of last year’s finalists.

The virtual training course takes place over several weeks, teaching start-up owners media skills, how best to market their businesses to investors, how to create attractive business plans, and to know what investors are looking for.

Later, the entrepreneurs will come together at a finals event, where 11 start-ups will be selected for the final pitch phase. They will attend a dedicated C3 boot camp to learn how to shape their story for international investors and to get “pitch ready” before their big presentations.

“We believe SMEs in the technology, sustainability, and creative sectors will be fundamental to the next phase of Africa’s growth,” MultiChoice Group CEO Mawela said.

Featured Image: MultiChoice Group CEO Calvo Mawela [Photo Credit Delwyn-Verasamy/M&G)

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