- A blockchain incubator provides startups with the necessary space and resources to broaden their research.
- Blockchain accelerators offer the extra help that most African blockchain startups require. After a thorough review, they bring investors to judge and see whether your idea is viable.
- CV VC has helped over 100 African blockchain startups in the past four years and has a reputation for its intensive training and opportunities.
African blockchain startups have flooded the continent’s economy. Entrepreneurs and innovators throughout the country have witnessed lucrative ventures that revolve around blockchain technology. Due to the new nature of this radicalizing tech, the possibilities are still endless. Africa currently has the highest number of entrepreneurs globally, with at least 45% of the workforce pursuing entrepreneurship. African innovation is at its peak. Thus when The developers introduced blockchain technology, innovators and entrepreneurs formed a solid hold to take advantage of this opportunity. However, many soon realized that building a startup in Africa is difficult, especially when it’s blockchain-based. However, blockchain incubators and accelerators are easy to come by due to the supportive nature of Africa.
Unfortunately, only some know the value of enrolling in blockchain incubators and accelerators. Fortunately, we are here to highlight the various organizations that offer these kinds of opportunities that are located right here in Africa.
Understanding what an incubator and accelerator mean for an African blockchain startup
Blockchain technology took the world by storm, especially since it led to the start of multi-billion enterprises such as Binance, Yellow Card and KUcoin. It was only a matter of time before this niche overflowed with hungry and aspiring entrepreneurs. Further African innovations were inspired by this new technology, especially since blockchain technology is exceptionally compatible with its ecosystem. As a result, hundreds of entrepreneurs dived head-first into creating African blockchain startups.At first, Africa obtained successes such as Yellow Card, Chipper cash and many more, but as the years progressed, so did the competition. Currently, numerous African blockchain startups still need help to move in the first phases.
Most successful entrepreneurs have claimed that African innovations will one day revolutionize the world. The only major problem they need is getting the seed money or proper guidance to turn those ideas into actual concepts.
Here at Web3Africa.news, we understand this hurdle and thus have brought you the Africa Startup league.
This need, fortunately, gave rise to blockchain incubators and accelerators. However, what do these terms mean, and how are they necessary to promote African innovation?
Within the business world, incubators are spaces where startups have the opportunity and resources to leap from being a simple idea to fleshed-out concepts with real potential to earn money. Blockchain incubators work in the same line of thought.
Since blockchain technology is still new creating awareness of its capabilities has become a severe problem in Africa. Thus if you generally have an idea of what blockchain is or how to use it at the primary and intermediary level, then enrolling in a blockchain incubator is what your African blockchain startup needs.
A blockchain incubator provides startups with the necessary space and resources to broaden their research. You may often find that your African blockchain startup can utilize. Knowing where and how you can efficiently apply blockchain technology to your idea or business is the main goal for blockchain incubators.
This is where you’d typically start for African blockchain startups that are still concepts or ideas.
In addition to providing the necessary training, blockchain incubators also aid innovators in patenting their property intellectually. Most of the time, this is a crucial step that has led to the patching of various African innovations. They prepare you up to the point where you are ready to re-pitched your idea to potential investors. Blockchain incubators are crucial since they train you to build a startup in Africa and give you all the information required to ensure it thrives.
Unlike incubators, blockchain accelerators are designed to speed up the growth of already established and functioning African blockchain startups. They rely heavily on investments and provide the necessary training a business requires to take it to greater heights.
During this phase, most African innovations must have passed the first phase and had tangible results. The blockchain accelerators review the progress and all the steps you took during the initial point to where your startup is currently. Blockchain accelerators offer the extra help that most African blockchain startups require. After a thorough review, they bring investors to judge and see whether your idea is viable. If they see the potential in your African innovation, they will inject capital into it. This allows you to scale exponentially.
In addition, blockchain accelerators also offer coaching on business management and where your African startups can invest or improve with the given amount of investment. It is often an excellent networking space that allows you to learn better ways of building a startup in Africa and how to scale it. They provide the necessary space to interact with other African innovations to learn from and partner with.
It is important to note that blockchain accelerators are best suited for African blockchain startups that can stand on their feet. This means that they require some form of income. Profit may not be a determining factor since it is one of the aspects they address. They often ask whether an African innovation is working. Whether it is gaining some cash flow and where we can improve it to earn more income. If your African startup can answer the first two questions, you have a better chance of gaining much more from blockchain accelerators.
Blockchain incubators and accelerators that can aid your African blockchain startup
The sheer number of African blockchain startups led to the increased demand for organizations that offer this kind of program. There are a variety of institutions throughout Africa where that either offer one or both aspects. Building a startup in Africa may not be as easy, but with the guidance of the below organization, you stand a better chance.
African Blockchain Institute
ABI is an educational institute that advocates for the widespread adoption of a blockchain education. It is among the few institutes in Africa that offer blockchain technology courses. In addition, it offers the opportunity to work in various blockchain centres.ABI has offered various blockchain incubation programs throughout the years. It is renowned for having one of the best facilities to ensure that your African blockchain startups hatch from their basic concept to a money-making enterprise. Their program, the Africa Blockchain Incubation Program, is a four-month intensive program designed to help participants develop and launch their projects. They conduct this program every year to know when to catch this window of opportunity is a crucial factor.
Their program offers access to a network of blockchain experts and mentors to guide their students. In addition, it offers training sessions on not blockchain technology but also business management.
Once you perfect your African blockchain startups, they offer an opportunity to pitch to potential investors.
CVVC is a blockchain accelerator that aims to help African blockchain startups reach their full potential. Their mission is t identify the most promising ventures and invests heavily in their progress, not just financially but also in offering adequate training. CV VC has helped over 100 African blockchain startups in the past four years and has a reputation for its intensive training and opportunities.
It’s unique because it also offers incubation programs for African innovations in the blockchain. CV Labs has incubated 22 successful global blockchain teams and ensured their success. The organization has partnered with Binance Smart Chain and several universities to make their incubation programs more easily accessible to entrepreneurs and innovations. This organization already has established strong relations with South Africa’s Cape Town and Johannesburg.
Startupbootcamp Cape Town
Startupbootcamp is one of the leading blockchain accelerators in Africa. In 2017 the company was launched o assists African blockchain startups to reach and achieve their true potential with guidance and enough investments. This organization runs world-class blockchain accelerator programs and works with many successful blockchain startups to provide the best guidance.
Their ASIP Accelerator is among one the best blockchain accelerators in Africa. The leading corporate sponsor, Telecel Group, anchors this blockchain accelerator. It aims to establish next-generation African innovations in the tech industry. Aside from African blockchain startups, this blockchain accelerator also aids other tech startups; hence it has a wide selection of resources. In addition to providing adequate investment, this African blockchain accelerator also offers its participants a chance t access investor markets. This has enabled many African innovations to test their capabilities and what they learnt.
African innovation is consistently rising within Web3, and more entrepreneurs are witnessing the potential of blockchain. Building a startup in Africa is far more accessible with blockchain incubators and accelerators. Instead of struggling with a revolutionary idea, enrol in a program to get the necessary resources and capital to propel your African blockchain startup.