March 8, 2022

Microsoft Partners With VCs, Accelerators To back 10,000 Startups In Africa

Microsoft announced plans today to support 10,000 startups in Africa over the next five years through a series of initiatives including partnerships with accelerators and incubators across the continent.

The global tech company is also partnering with venture capital investors to facilitate access to $500 million in potential funding and has launched the Startups Founders Hub in Africa. Microsoft will enable digital transformation powered by Africans for Africa through the Africa Transformation Office.

Microsoft said that it is already working with Banque Misr, Global Venture Capital, and Get Funded Capital.

On top of that, it will also partner with key B2B-focused start-ups, scaleups, “soonicorns” and unicorns across a range of leading African industries. As well as startups concentrating on developing solutions for SMEs. Microsoft will tailor each partnership based on the needs of a startup says Gerald Maithya, Startups Lead, Microsoft Africa Transformation Office.

The move comes a year after Google launched a $50 million Africa Investment Fund targeting early- and growth-stage startups on the continent, succeeding its Google for Startups Accelerator Africa program.

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.