Fund will support the next generation of African entrepreneurs
DUBAI, United Arab Emirates, November 7, 2024 (EZ Newswire) — Innovate Global – Startupbootcamp, one of the world’s leading accelerators, is proud to announce its second fund on the African continent in partnership with Mara Group and Blend Financial Services. This strategic alliance marks a significant commitment to the growth and success of African startups, focusing on building future industry leaders and driving innovation across the continent.
Since its first entry into Africa in 2017, Startupbootcamp has been an active supporter of the African startup ecosystem, investing in notable success stories such as Kuda Bank, Yobante, Curacel, and more. The accelerator’s impactful journey through the region has proven Africa’s potential for pioneering change and pushing the boundaries of technology and innovation.
With a renewed vision and a powerful seven-year partnership with Mara Group and Blend, Startupbootcamp is returning to establish five innovation hubs across Africa and launch a $250 million USD fund. These hubs will act as catalysts for identifying, mentoring, and investing in the continent’s most promising entrepreneurs and startups. The focus will be on empowering a new generation of founders to become industry leaders, setting the pace for Africa’s growth in finance, healthcare, logistics, and other key sectors.
“We are thrilled to reignite our commitment to Africa,” said Kauan von Novack, Global CEO at Startupbootcamp. “Partnering with Mara and Blend allows us to tap into local expertise and networks, building upon the successes we’ve achieved and ensuring we support African startups with the capital, mentorship, and resources they need to thrive.”
The five hubs will be strategically located across major cities in Africa, fostering a diverse and inclusive startup environment. With Blend’s extensive market knowledge and Startupbootcamp’s world-class acceleration capabilities, this collaboration will leverage their combined strengths to offer African founders access to a global network, funding, and industry expertise.
Blend’s founder and managing director, Ravi Gupta, commented, “Africa is brimming with entrepreneurial energy, and we are delighted to partner with Startupbootcamp to help unlock its vast potential. Together, we aim to accelerate the growth of startups that will transform industries and improve lives across the continent.”
Startupbootcamp Africa chairman and founder of Mara Group and Mara Foundation, Ashish J. Thakkar, added, “I’ve always been extremely passionate about entrepreneurship and Africa. In my career I’ve always focused on enabling, empowering, and inspiring young and women entrepreneurs. With this partnership with Startupbootcamp, we are able to do exactly this at scale.”
With this initiative, Innovate Global – Startupbootcamp, Mara Group, and Blend are determined to shape the future of Africa by investing in, supporting, and nurturing visionary founders who will become the industry leaders of tomorrow.
About Innovate Global – Startupbootcamp
Innovate Global (IG) partnered with Startupbootcamp (SBC) to form IG-SBC. SBC is the world’s third-largest and Europe’s leading tech venture capital and accelerator. The IG-SBC partnership delivers a global platform for technological innovation and collaboration, with industry-leading business incubation and acceleration services. Entrepreneurs, innovators, and high-growth projects will be supported to expand and accelerate their business, connecting with potential supporters, investors, business leaders, mentors, and business partners around the globe.
About Startupbootcamp
Startupbootcamp is a network of accelerators active globally with a total portfolio valuation of €5.6 billion ($6 billion). To learn more, visit https://www.startupbootcamp.org.
About Blend Financial Services
Blend Financial Services is one of the leading integrated financial service providers worldwide. Since 1997, we have been tirelessly providing corporates, financial institutions and sovereigns with the best financial strategies to support their projects across the world and especially in economically challenged countries—augmenting job creation and sustainable economic growth, while simultaneously helping our clients further their own goals. For more information, visit https://www.blendfinance.com.
About Mara Group
Headquartered in Dubai, Mara is a diversified holding and investment company. It operates in the technology, financial services, real estate and asset management industries. The company was founded by Ashish J. Thakkar in 1996 and has active investments in over 26 countries.
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SOURCE: Mara Group
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