Microsoft will expand its Microsoft Ventures partnership programme into Africa. The Ventures partnership programme, which was introduced in June 2013, is designed to bring tools, technology and training to start-ups through partnerships with global accelerators.
According to a statement released by the company, 88mph was selected as its first African accelerator partner. "88mph was chosen for its proven model of helping launch and secure funding for innovative African start-ups. Together, Microsoft and 88mph will work to provide start-ups with mentorship, technology guidance, seed funding, joint selling opportunities and more."
Microsoft Ventures helps start-ups get off the ground through a community evangelism programme including Microsoft BizSpark, an accelerator programme and seed fund that works with start-ups worldwide. The expansion into Africa was conducted as part of the recently launched Microsoft 4Afrika Initiative and will prioritise start-ups in key sectors, including agriculture, education and healthcare.
Amrote Abdella, director for 4Afrika Venture Capital and start-up programmes, says through the initiative, the company is committed to fostering African innovation and fuelling Africa's economic growth and competitiveness. "We strongly believe that with the right support, African start-ups hold tremendous potential to impact both their local economies and the world's perception of African-led innovation and entrepreneurship."
Start-ups will be selected based on the globally established criteria of Microsoft Ventures, including having a full-time founding team, a bold vision for tackling a "real problem", technologically-driven solutions and less than $1 million raised.
The graduating start-ups from 88mph's most recent accelerator class will participate in a demo day on 5 December, in Nairobi, where, with Microsoft's help, the start-ups will present their businesses and opportunities to invited investors.
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