The World Bank Group yesterday launched Afrique Excelle a Francophone centered Africa-accelerator. The accelerator would support tech startup in the late seed or pre-Series A stage.
The accelerator, which was launched at the Africa Early Stage Investor Summit in Cape Town is an initiative of the World Bank Group, implemented by a consortium of VC4A, Suguba, and SahelInnov.
Afrique Excelle will offer access to capital to the tune of $5 million from investors. Also, the accelerator will connect startups with mentors, offer interactive sessions, tools, and learning resources. It will also sponsor a one week all-expenses-paid Bamako residency & showcase brands at VivaTech.
The accelerator programme is a six-month programme which will kick off with a one-week residency in Bamako, Mali in March, and climax with the final venture showcase at VivaTech 2019, part of the one-week residency in Paris in May.
In 2017, the World Bank implemented the XL Africa accelerator. Afrique Excelle is the Francophone version of the XL Africa Accelerator. Both programmes offer help in securing funding as well as access to a bespoke curriculum and the opportunity to receive mentoring from global and local experts.
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