The first-ever NBA Africa Triple-Double Accelerator Demo Day has crowned four African startups as champions. The event, held in New York City at the NBA headquarters, saw four standout companies—Festival Coins, Salubata, HustleSasa, and UBR VR—win financial awards and mentorship opportunities to help scale their businesses. Top Startups Rise from Over 700 Applicants The NBA Africa Triple-Double Accelerator, launched in April 2024, aims to fuel growth for African startups operating in sports and creative industries. By providing capital, mentorship, and connections, the initiative supports early-stage companies that focus on event
Nigerian e-health startup, Field, has unveiled a new service aimed at addressing Africa’s maternal mortality crisis. Backed by a $11 million investment from the Bill & Melinda Gates Foundation, Field’s initiative focuses on emerging therapies for maternal, newborn, and child health as well as improving nutrition across the continent. Helping healthcare access Co-founded in 2015 by Michael Moreland, Justin Lorenzon, and Peter Bunor, Field has already made significant strides in transforming healthcare delivery through its pharmaceutical supply chain solutions, operating in Nigeria and Kenya. The company has supported over 800
Google for Startups Accelerator Africa has revealed its 8th cohort, featuring ten startups from Kenya, Nigeria, Rwanda, and South Africa. These ventures are using AI to address significant issues in healthcare, cargo mobility, energy solutions, and beyond. Pioneering Innovation Across Africa Africa’s tech ecosystem is described as a hub of creativity and problem-solving, driven by startups tackling both local and global challenges with exceptional ingenuity. Since its launch in 2018, the Google for Startups Accelerator Africa program has been important in supporting the continent’s startup landscape. The program has now
Wray & Nephew held their Wray Forward Pitch Night this week featuring a number of Black-owned businesses from AI music sampling to the world’s first Nigerian tapas restaurant in London. Wray Forward The Wray Forward Pitch Night saw six Black founders take to the stage to showcase their businesses and pitch to a panel of expert judges to secure grants to help their businesses grow. Part of the brand’s ongoing Wray Forward activity is in partnership with Foundervine – a program supporting Black businesses through funding, educational workshops, mentorship and
Innovate Africa Fund has launched with an initial $2.5 million to support up to 20 early-stage startups over the next year, addressing challenges such as insecurity, unemployment, and poverty. Supporting Early-Stage African Startups Since 2019, the funding landscape in Africa has shown promising growth, with disclosed exits surpassing $2.3 billion. However, despite raising $17.2 billion overall, early-stage founders often need help to secure the funding necessary to transition from ideation to market fit. Innovate Africa Fund aims to bridge this gap by providing insight-driven capital to help founders accelerate their
Earlybird AI, a B2B startup that assists job seekers using innovative multilingual, voice-first AI technology, has raised £625,000 ($800,000) in pre-seed funding. The investment comes from diverse backers, including Google, Resolution Ventures, and Ada Ventures. Tackling Unemployment With AI Earlybird AI addresses a pressing issue: nearly 11 million people in the UK are unemployed, and the unemployment rate rose to 4.4% between February and April 2024. Founded by Claudine Adeyemi-Adams and Boris Bambo, the platform improves employment support by directly engaging participants through simulated voice-powered connections. Adeyemi-Adams, who experienced homelessness
Girls in Tech Inc., a global nonprofit focused on advancing women in technology, has closed due to insufficient funding. Founded in 2007 by Adriana Gascoigne, the organization aimed to bridge the gender gap in the tech industry, providing resources and opportunities for women and allies worldwide. Despite its significant presence, with 130,000 members in 50 cities and 38 countries, the organization has struggled financially over the past few years. Relocation and Financial Struggles In 2022, Girls in Tech moved its headquarters from San Francisco to Nashville, a strategic shift intended
Queens Borough President Donovan Richards recently unveiled a plan to establish a new diversity tech and innovation center in Long Island City, slated to open in early 2025. Empowering Minority-Owned Startups Partnering with Pursuit, a Queens-based non-profit, the Queens Diversity Tech Hub will occupy a 7,000-square-foot space in the Pursuit building at 47-10 Austell Place. This state-of-the-art facility will serve as a launchpad for up to 50 emerging startups, targeting minority-owned businesses seeking seed and Series A funding. The initiative is set to address the funding challenges faced by startups
Breega, a Paris-based venture capital firm, has announced the first close of its $75 million Africa-focused fund, designed to back pre-seed and seed-stage startups. Expanding Horizons With Local Presence Breega’s new fund, “Africa Seed I,” marks its first foray outside Europe and aligns with opening two new offices in Lagos and Cape Town. These new locations join Breega’s existing offices in Paris, London, and Barcelona, enhancing its presence across the EMEA region. According to Ben Marrel, Breega’s co-founder and CEO, the firm’s approach is rooted in its “founders-for-founders” ethos, offering
TLcom Capital, a venture capital firm that partners with African entrepreneurs, has successfully closed its second fund, TIDE Africa Fund II, reaching $154 million. TLcom Capital From fintech to healthcare, TLcom has remained focused on seed to Series A investments, supporting transformative businesses like Andela and FairMoney through multiple funding rounds. With a majority-female leadership team, the firm not only champions gender balance but also backs initiatives like FirstCheck Africa to support women-led startups. TLcom’s approach involves partnering with entrepreneurs from the outset, aiming to build ventures that can deliver substantial returns. TIDE Africa Fund
