Nine inspiring African impact technology start-ups working on a wide range of transformative agricultural, food, and climate-tech solutions, have been selected for the Katapult Africa Accelerator, a program powered by Katapult, a global investment company focusing on early stage impact driven technology start-ups.Accelerators are short-term intensive programs for companies in their early stages that are trying to drive growth as quickly as possible.Such programs are fast-paced, intensive and hands-on, providing strategic support and investment to advance the scaling of innovative companies.The Katapult Africa Accelerator Program is a ground-breaking program that combines 90 days of intense digital and physical workshops, network and learning sessions with $150,000 equity investments in each selected startup.The nine start-ups selected for the accelerator program come from Kenya, Ghana, Nigeria, Senegal and Morocco, but will be encouraged to use Kigali as a launch-pad to other regional markets.For three months, the cohort of the selected companies will go through Katapult’s world-class impact accelerator program, where they will engage in rigorous workshops, online meetups, mentor sessions, pitch training and investor presentations, with the aim of making them ready for scaling in African markets.Speaking during the accelerator’s official launch at Norrsken House Kigali on Friday, November 4, Paula Ingabire, the Minister of ICT and Innovation, described the program as “a really major milestone” towards supporting the start-up ecosystem, as it responds to the key challenge of unlocking financing to the rising start-ups.“The launch of such a fund comes in as a great addition to all the other efforts that are being put in place to make sure we have a thriving environment for the startups,” she said.Philip Gasaatura, Katapult’s Country Director, Rwanda, said he was “really excited” for the future in Africa seeing many companies work tirelessly to solve the challenges in their communities and across the continent.He noted that the portfolio of start-ups selected for the accelerator represent some of the very best talent, teams and companies across Africa solving some of the big challenges the continent faces in agriculture and climate resilience.“Through the accelerator program the focus will be on supporting these startups through their growth, investment and impact strategies,” he said.Founded in 2017 by Norwegian entrepreneur and tech investor, Tharald Nustad, Katapult has invested in 145 portfolio companies and has run ten accelerator programs to date.Speaking about the newly launched accelerator, Nustad said:“At Katapult we are highly ambitious and we set our vision to nothing short of building a thriving world for all. It is for this reason that today’s launch represents an important step forwards for both Katapult and the impact community.”Katapult’s decision to launch the accelerator is driven by both a clear recognition of the need for change and an unprecedented opportunity for innovation, according to a statement from the investment company.“With a climate in crisis, it is all too clear that we must accelerate technologies to both overcome climate challenges and ensure food security. We simultaneously believe that it is Africa with its fast-growing business communities and young, tech-savvy population who are best placed to deliver highly scalable, highly impactful solutions,” it read.The Katapult Africa Accelerator Program was made possible in partnership with Norad, Tony Blair Institute for Global Change, Norrsken, and Smart Africa, and Lead Investors including Rwanda Social Security Board, Norfund and SOS Children’s Villages.
