Applications for the fourth iteration of the eight-month OceanHub Africa accelerator project are now being accepted.
This programme will provide financial assistance to up to 12 of Africa’s most potentially impact for-profit firms focused on ocean conservation and restoration. You can find applications here.
The OceanHub Africa accelerator is dedicated to assisting ocean-focused entrepreneurs. It chose its third cohort in October of last year, with the sole purpose of cultivating an environmentally benign and viable economy that effectively mitigates the effects of global warming as well as overfishing and pollution of the oceans.
By leveraging its highly qualified network of stakeholders and facilitators, it will provide accelerated startups with an online curriculum that seeks sustainable pathways that provide consistent profits (ROIs) and chances for scalable growth across Africa. This would be accomplished by exploiting its network.
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What is Expected in the OceanHub Africa Accelerator Program
A network of leading ocean experts, mentors, impact investors, and potential customers will be made available to the selected companies, along with up to US$75,000 worth of cloud service from AWS Activate and over US$40,000 of value of mechanical engineering design software licenses for prototyping and virtual testing through partner 3DExperience Lab.
They will be able to participate in networking events and conferences, with a stand and stage time at the Ocean Innovation Africa annual summit, as well as engage in an in-person training bootcamp, access tailored business skills and personal development via one-on-one coaching, and access customized business skills and personal development via one-on-one coaching.
In addition, there is the possibility of receiving finance of up to ten thousand United States dollars, support in preparing and conducting investor pitches, in addition to support in structuring deals. As a component of its ecosystems, OceanHub provides users with access to a sizable pool of impact investors.
A scalable service or product that is either already on the market or will soon be available on the market is required of applicant startups. Ocean-mindedness and a for-profit business model are other prerequisites. Applications can be submitted through this page until May 14th, and the eight-month programme will commence in July.
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Importance of Accelerator Program
In the realm of startups, accelerators are seen as important factors that contribute to success. In point of fact, the majority of new businesses fail.
The founders of a business that put in the effort to investigate their options and pick the most suitable accelerator programme for their company are setting themselves up to take advantage of a broad variety of potential advantages. Not only can an accelerator give significant coaching, direction, and resources, but it can also help entrepreneurs create key contacts and gain access to a wider network of investors and possible partners.
This is especially helpful for firms that are still in the early stages of their development. Participating in an accelerator programme can also help young companies improve their business models, the products and services they offer, and their overall plans. This could, in the long term, lead to higher growth and more sustainable success.