NEW YORK, UNITED STATES, Foundation for Africa’s Future announced that Empowering Economic Growth Foundation (EEGF) has become the first donor to support Accelerate Africa, an accelerator program with a fund that supports venture-backed companies led by founders who are minorities, females, and/or socially or economically disadvantaged individuals (“SEDI”) in Africa.

With the support of EEGF, Accelerate Africa can continue its mission to back early stage founders at a time when funding at this part of the capital stack continues to lag behind, putting the entire ecosystem at risk. With transformational funding options through grants and donations with immediate tax benefits, we have a wider set of ways that investors can support. 

Accelerate Africa's 10-week program aims to accelerate those founders solving real challenges with global solutions, to get to $1m in revenue within 18 months of completing the program. It features 1:1 advisory support from group partners who have built businesses in Africa, fireside chats with industry titans and those who have walked their paths before, as well as a series of workshops with a focus on core areas early-stage founders often struggle with including storytelling, team development, go to market, product development, and fundraising. The program concludes with a demo day where a network of angels and investors participate in funding these companies on their growth journey.  By combining resources, the two organizations will help selected entrepreneurs build scalable businesses that can operate across Africa and globally.

The CEO of Accelerate Africa, Iyinoluwa Aboyeji shared, "We are thrilled to partner with the Empowering Economic Growth Foundation to support Accelerate Africa. Their commitment and dedication to impact is unmatched and their support of our initiative will empower African entrepreneurs and drive economic growth across the continent."
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Further, after a successful partnership over the last few years, the Founder of EEGF, David Delucia commented that, "EEGF is proud to support Accelerate Africa through the Foundation for Africa’s Future in addition to the Future Africa fund. By investing in SEDI founders, we are investing in the future of Africa, and the future of the world."

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The donation was supported by LOHAS, an impact investing advisory firm that enables the investment of philanthropic capital into for-profit impact ventures that deliver sustainable solutions to social and environmental challenges.For information regarding supporting the Foundation for Africa’s Future, please visit https://www.future.africa/foundation-for-africas-future or contact hello@acceler8.africa.

About Accelerate Africa

​Accelerate Africa is a pre-seed / seed stage accelerator program that runs 2 cohorts per year every 6 months for up to 10 startups, from across the continent to get support in areas such as storytelling, team development, go to market, product development, and fundraising. We get founders on the path to $1m in revenue within 18 months of completing the program. Our goal is to become the top program for African entrepreneurs looking for support and the pre-eminent accelerator for investors to attend and invest

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About Future Africa 

​Future Africa is an early stage, pre-seed VC firm that has invested in over 115+ companies across 10 African countries, attaining leading impact and returns for investors in 4 years of operations. The primary focus is on supporting startups who are building businesses and creating jobs for the digital economy.

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About EEGF

The Empowering Economic Growth Foundation is a private foundation that is dedicated to developing and funding transformational entrepreneurs in Africa and other emerging markets, empowering them to make a positive impact on the world through job creation, innovation and opportunity development.. The foundation is currently focused on mission-driven early and mid-stage companies  in Nigeria.

Media Contact:
V. Chinyere Inya
Partner, Head of Platform (Future Africa)
COO, Accelerate Africa
hello@acceler8.africa

Media Contact:
‍Trish Thomas
Executive Director,
EEGFtrish@eegfimpact.org

Visit us on social media:
LinkedIn: www.linkedin.com/company/14016572
Instagram: @anafricanfuture
Twitter: @anafricanfuture
Youtube: www.youtube.com/@anafricanfuture

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