Open Startup (OST) has officially launched the second cohort of its acclaimed Investment Readiness Program, GROW. This initiative is designed to help advanced African startups scale their operations and secure critical funding.
Building on Past Success
Following the success of the inaugural cohort, which supported 13 startups selected from over 600 applicants, the GROW program aims to continue its mission of bolstering African startups. The program’s objective is to assist startups that have already raised up to $350,000 and are targeting their first $1 million in funding.
Comprehensive Support for Startups
The GROW program, developed in collaboration with AfricaGrow, Africinvest Group, BPI France, and Go Ventures, provides a robust set of resources and support services. This includes:
- Business Assessment: Tailored workshops and personalized content focused on improving fundraising capabilities.
- Hands-on Support: One-on-one meetings, world-class coaching, and regular progress check-ins.
- Investor Access: Opportunities to connect with a broad network of individual and institutional investors.
- Regional Exposure: Financial support to participate in international ecosystem events.
- Talent Fellowship: Funding assistance to hire top talent.
- Community: Integration into a vibrant and diverse startup community.
- Technical Assistance: Expert guidance on optimizing IT systems, intellectual property, code quality, and data security.
Eligibility Criteria
To qualify for the GROW program, startups must meet the following criteria:
- Be a seed-stage company operational for less than 4 years.
- Have 2-4 co-founders, including at least one African co-founder.
- Operate in or impact Africa, with a strong team and proven execution capacity.
- Have raised up to $350,000 and be seeking to raise $1 million.
Application Details
Applications for the second cohort are now open. Interested startups are encouraged to apply by August 31st via the provided link.
This program underscores Open Startup’s commitment to fostering the growth of innovative African startups and helping them achieve significant funding milestones.
