AfriLabs, an organisation that supports innovation hubs, has established the AfriLabs Connect Deal Room (ACDR) in response to the pressing need to find, finance, and gain access to investible startups across Africa.
By facilitating connections between I got a housevarious ecosystem participants—including technology hubs, startups, investors, and more—AfriLabs aims to propel innovation and entrepreneurship across the African continent. Of its members, more than 430 are women.
The ACDR, announced by AfriLabs at its 2023 Annual Gathering, is an initiative to provide investment funds access to a pan-African pipeline of investible and de-risked startups; it also seeks to simplify funding for innovative startups across diverse sectors in Africa.
Read also: African Energy Chamber (AEC) of Commerce request Investment in Energy
The impact of the Connect Deal Room
The Deal Room is a private pool where investors and funds can register their portfolio startups, fostering a dynamic investment ecosystem. By utilising AI, this pool facilitates more precise company matching according to criteria such as ticket sizes, industry of interest, and detailed specifications.
To top it all off, AfriLabs’ extensive network of more than 500 physical innovation and technology hubs in more than 250 cities across 54 countries makes it easy to provide additional resources to the startup founders who were involved with ACDR’s initiative and to encourage pan-African collaboration.
The ACDR has pioneer partners, including global venture capital networks like Renew Capital and International Accelerators, as well as business support tools and services like Silicon Valley in Your Pocket.
The AfriLabs Connect Deal Room is aimed at hubs with established startups looking to raise substantial pre-series, series a, b, or c funding to expand, according to Ajibola Odukoya, COO of AfriLabs. They have set up a pipeline of investors with an eye towards Africa. These backers are preparing to do business on the continent and are eager to partner with growing companies.
One of the leading platforms on which the ACDR will run is AfriLabs Connect, which brings together the biggest community of innovation enablers in Africa. This initiative is a huge deal for Africa’s startup ecosystem and AfriLabs’ mission to promote innovation, collaboration, and long-term growth on the continent.
Fintech and Edtech investments dominate South African venture capital
More on what AfriLabs does
Since its inception in 2011, AfriLabs has been actively working to foster innovation hubs and their associated communities in a number of African nations. These hubs, which are both physical co-working spaces and specialised offices, offer business, legal, and financial education, as well as other resources, to young people, innovators, entrepreneurs, and developers in Africa.
They can help foster innovation and entrepreneurship in Africa by getting involved with these hubs and the communities around them. This will lead to increased economic growth and better social conditions across the continent.
As an organisation, AfriLabs is steadfast in its dedication to doing the right thing for society and the environment. They work tirelessly to promote diversity, inclusion, and long-term success in Africa’s thriving innovation and technology sector.
They welcome anyone with an open mind and a passion for innovation to join their dynamic community, which embraces diversity and inclusion.