Morgan Stanley has unveiled its 2023 global cohort for the Inclusive Ventures Lab, with a notable expansion in the number of companies selected. This year, the Lab has doubled in size compared to previous cohorts, with 23 exceptional startups from North America, Europe, the Middle East, and Africa (EMEA) securing coveted spots in this esteemed program. The Inclusive Ventures Lab, known for its five-month in-house accelerator program, is dedicated to nurturing underrepresented founders of technology and technology-enabled startups in the post-seed to Series A funding round stage.
What’s particularly exciting about this year’s announcement is the inclusion of African startups for the first time – eBanqo (Nigeria) and Ridelink (Uganda).
eBanqo (Nigeria): Transforming Customer Engagement with Omnichannel Solutions
Based in Nigeria, eBanqo is poised to revolutionize the way businesses interact with their customers. Their omnichannel platform offers a seamless and efficient customer engagement solution, bridging the gap between companies and their clientele. With this innovative approach, eBanqo aims to enhance customer satisfaction and support, ultimately driving growth for businesses.
Ridelink (Uganda): Pioneering Cargo Movement Across Borders
Ridelink, hailing from Uganda, is addressing a crucial challenge in the African business landscape – efficient cargo movement. Leveraging technology, Ridelink connects small and medium-sized businesses in Uganda with neighboring countries, streamlining cross-border logistics and transportation. This innovative approach not only boosts regional trade but also propels the growth of African businesses.
These two startups, eBanqo and Ridelink, are prime examples of the entrepreneurial spirit that defines Africa’s evolving tech ecosystem. Their selection for the Inclusive Ventures Lab underscores the importance of fostering diversity and inclusion in the global tech industry.
The other startups selected in this cohort include:
The selected companies in the 2023 global cohort include the following:
- Ad Auris empowers marketing teams, publishers and content creators to repurpose written content into high-quality audio to reach an audience of listeners (Canada)
- Automated Architecture provides the technological infrastructure for a distributed robotic micro-factory network producing sustainable timber housing (UK)
- Bidrento offers an all-in-one solution for tenant experience and rental property management, helping to save time and money while also reducing CO2 emissions in real estate (Estonia)
- ByFusion provides a zero waste landfill diversion platform to transform non-recyclable plastic waste into reusable building materials (US)
- Cult Mia is an online fashion marketplace for sustainable and ethical brands from around the world (UK)
- DotLab develops breakthrough, actionable AI and ML technologies that lead to better health outcomes for women, starting with the diagnosis of endometriosis (US)
- Encounter AI uses digital conversational ordering solutions to provide faster, friendlier and more efficient service to customers, restaurants and retailers (US)
- FLUIX Inc. enterprise AI software saves critical infrastructure on energy costs by integrating and optimizing facility systems (US)
- GigBridge is an online platform for construction companies to hire, onboard and pay their workforce all in one place (UK)
- Health in Her HUE connects Black women and women of color to culturally sensitive healthcare providers, health content and community support through a digital platform (US)
- Inicio AI delivers a virtually guided affordability assessment to help organizations save contact center costs while improving their end customer experience (UK)
- MEDIjobs is the first virtual recruiter for the healthcare industry, filling more than 55 types of positions at a rate five times faster than a human would (US)
- Nopalera is a collection of bath and body products powered by Mexico’s nopal cactus – an ancient symbol of Mexican culture (US)
- OKO offers affordable and inclusive crop insurance to farmers in emerging countries using satellite weather data and mobile payment technologies (Israel)
- Oppos provides robust cybersecurity and compliance security solutions for businesses, safeguarding data confidentiality, integrity, and availability (Canada)
- Partsimony enables organizations to build intelligent manufacturing supply chains that are more resilient and sustainable by unifying engineering and supply chain data (US)
- serviceMob is an AI & ML-powered customer service analytics platform that helps businesses optimize operations and improve the customer experience (US)
- Stak Mobility facilitates widespread urban electric vehicle adoption by merging space-saving vertical parking automation with fully integrated EV charging and a seamless mobile self-service experience (US)
- Tall Poppy is a digital security company protecting employees and public facing teams from online threats (US)
- Twipes uses bio-tech to produce flushable, biodegradable wet wipes that break down in water in three hours and biodegrade in landfills in seven days (US)
- Unfabled is a consumer health platform that delivers personalized solutions for women by matching them with health and wellness products (UK)
The Inclusive Ventures Lab is part of Morgan Stanley’s broader mission to promote a more equitable investment landscape. By investing $250,000 in each selected startup and offering mentorship opportunities, Morgan Stanley empowers underrepresented founders to navigate the challenges of scaling their businesses successfully. This initiative seeks to address market imbalances and create opportunities for overlooked entrepreneurs worldwide.
As the program runs through February 2024, we eagerly anticipate the growth and impact these startups will achieve. The journey will culminate in a global Demo Day, where the participating companies will have the chance to showcase their innovations to potential investors, business partners, and customers.
The Inclusive Ventures Lab has garnered well-deserved recognition for its impactful work, including Gold Anthem Awards and acknowledgment as one of Global Finance’s Best Innovation Labs. It serves as a beacon of hope and opportunity for startups globally, and now, with the inclusion of African talent, it’s taking another significant step toward fostering global innovation and entrepreneurship.
