Microsoft announced new programmes aimed at assisting 10k African companies over the next 5 years
Microsoft has unveiled a slew of new initiatives under the auspices of its newly formed Africa Transformation Office (ATO) aimed at accelerating the growth of 10,000 African businesses and accelerating investment in the continent’s startup ecosystem over the next five years.
Through the ATO, Microsoft’s recently created worldwide Founders Hub will now be available to African companies. The Founders Portal is a self-service hub that connects entrepreneurs to mentors, skilling courses, Microsoft Azure and GitHub, as well as go-to-market and business help.
Microsoft is also forming new collaborations with accelerators and incubators across Africa, such as Grindstone, Greenhouse Capital, FlapMax, and Seedstars, to give access to markets, technical skills, and investment options for industry-based businesses. These agreements will provide African businesses access to training programmes, markets, including chances to co-sell with Microsoft, and technology, as well as help from Microsoft’s engineering and product teams for co-innovation.
Microsoft is forming industry alliances and collaborations with venture capital investors in order to help African entrepreneurs expand quickly utilising investment cash. This money will come from a network of venture capitalists who will put a part of their money into Microsoft-related firms.
Microsoft has already formed partnerships with a number of key venture capital investors, including Banque Misr, Global Venture Capital, and Get Funded Africa, with the goal of expanding this network of venture capital investors over the next five years to help them scale up and drive economic growth.
“Investments into Africa’s startup ecosystem are growing at an exciting pace. According to the Organisation for Economic Cooperation and Development (OECD), there are more than 640 active tech hubs across Africa, accelerating innovation and creating employment, particularly among the youth,” said Wael Elkabbany, managing director of the ATO.
“However, currently the African startup market represents less than one per cent of total investments worldwide. This needs to change.”
Microsoft’s corporate and business clients are available to sell to startups through the Founders Hub. Microsoft will also assist entrepreneurs with geo-expansion efforts, which allow them to expand their business by selling in other nations or areas.
“The Founders Hub allows Microsoft to engage with accelerators, incubators and tech hubs across the continent. Our partnerships with key African accelerators provide crucial support to accelerate growth-stage startups with their business development and market expansion plans,” said Gerald Maithya, startups lead at the ATO.
Microsoft will collaborate with B2B startups, scaleups, unicorns, and “soonicorns” in a variety of top African industries, as well as those focusing on working with SMEs.
“We understand that each startup is unique and exists beyond the limitations of a one-size-fits-all partnership model. This is why Microsoft will tailor each partnership to the needs of individual startups, providing support and access – whether to technology, markets and co-sell opportunities, funding or digital skills – to enable them to grow and contribute to the wider economic growth of Africa,” said Maithya.
The business is also forming collaborations with venture capitalists interested in one or more African areas, preferably those with a global reach and regional bases.
“Our goal in establishing these partnerships with venture capital investors is to extend the network of potential partnerships between Microsoft, venture capital investors and startups, thereby increasing the funding made available to eligible startups,” said Maithya.
