NBA Africa launches accelerator to foster African economic growth.
NBA Africa is providing funding and mentorship as part of a new initiative to support African start-ups, the African tech ecosystem, and the next generation of technology entrepreneurs in sports and creative industries. Run by leading technology incubator ALX Ventures, the Triple Double: NBA Africa Startup Accelerator is open to early-stage startups developing solutions across event management and ticketing, youth development, AI, and digital marketing. . The goal is to accelerate growth to foster growth in African economies.
Start-ups can apply until May 31, after which the competition will be narrowed down to the top 10 companies. Applicants can win prizes of up to $50,000 plus in-kind value and have the opportunity to connect with business leaders, corporate and multinational leaders, and pitch to other companies. This fall, industry leaders from around the world will gather. The standard stipulates that the business must be headquartered in Africa. Submissions must fit into one of five sports and creative startup categories. There must be proven demand for the product and/or service. Applicants must then demonstrate demonstrable influence and/or relevance to the African continent as a whole.
“This groundbreaking new initiative reflects our commitment to growing the African sports ecosystem, and these great companies will be at the forefront of shaping the future of sport on the continent. ” NBA Africa CEO Claire Akamanzi said in an April 25 announcement.
The 10 selected startups will be paired with mentors comprised of NBA Africa and ALX leadership and other company stakeholders to guide the companies with a focus on product development, business growth, and go-to-market strategies. Offers. NBA Africa will hold a Demo Day in New York City in September to coincide with the United Nations General Assembly. Participating companies will pitch their products to a panel of top industry leaders from the U.S., Africa, and around the world. The committee will then identify four winning companies, who will receive financial support, mentorship and the opportunity to collaborate with NBA Africa and Basketball Africa League (BAL) on current and future initiatives on the African continent. Masu.
NBA Africa is an affiliate of the NBA with a mission to inspire and connect people around the world through the power of basketball. The NBA opened its African headquarters in South Africa in 2010 and has since opened a branch office in Cairo, Egypt. Dakar, Senegal. Lagos, Nigeria. and Nairobi, Kenya. The league’s efforts on the continent have focused on increasing access to basketball and the NBA through youth and elite development, social responsibility, media distribution, corporate partnerships, the NBA Africa Game, the NBA Store, BAL and more.
ALX Ventures partners with African technology talent to tackle the world’s biggest challenges through business. Its pan-African technology training hub and incubator produces hundreds of new startup founders every year.
Triple-Double was launched to support U.S. President Biden’s Digital Transformation Initiative in Africa, which will expand digital access and literacy and strengthen the digital enabling environment across the continent. The accelerator announcement was made by Mr. Akamanzi at the U.S. Chamber of Commerce Business Summit in Nairobi, Kenya, along with U.S. Secretary of Commerce Gina M. Raimondo and U.S. Trade and Development Administrator Enoh T. Ebong.
