Entrepreneurs with innovative ideas and viable business models have until May 31 to submit their applications.
In a significant move to bolster the African tech ecosystem and foster the next wave of entrepreneurial talent, NBA Africa has unveiled a pioneering initiative aimed at supporting startups across the continent.
Titled the “Triple-Double: NBA Africa Startup Accelerator,” this venture is set to provide not only capital but also invaluable mentorship to early-stage startups operating in various sectors, including event management, ticketing, youth development, AI, and digital marketing within the sports and creative industries.
Operated by ALX Ventures, a leading technology incubator renowned for its expertise in nurturing emerging businesses, the accelerator program seeks to accelerate the growth trajectory of these startups, thereby catalyzing economic development across Africa.
Entrepreneurs with innovative ideas and viable business models have until May 31 to submit their applications. Following this deadline, a rigorous selection process will ensue, with the top 10 startups earning the opportunity to receive prizes amounting to $50,000 alongside other value-in-kind benefits.
Moreover, selected participants will gain access to a network of influential business leaders, corporations, and multinational mentors, amplifying their chances of success on the global stage.
The eligibility criteria for applicants mandate that their operations must be headquartered in Africa, aligning with one of the designated Sports and Creative startup categories. Furthermore, submissions must demonstrate a clear market demand for the product or service offered while showcasing tangible impacts relevant to the broader African continent.
Commenting on this groundbreaking initiative, NBA Africa CEO Clare Akamanzi emphasized the organization’s commitment to nurturing the burgeoning sports ecosystem across Africa. She highlighted the pivotal role that the selected startups will play in shaping the future landscape of sports on the continent.
Following the selection process, the 10 chosen startups will be paired with mentors comprising NBA Africa and ALX Ventures leadership, as well as other corporate stakeholders. These mentors will provide invaluable guidance to the companies, focusing on key areas such as product development, business growth strategies, and go-to-market approaches.
In a significant showcase of support, NBA Africa will host a Demo Day in New York City in September, coinciding with the United Nations General Assembly. During this event, participating startups will have the opportunity to pitch their products to a distinguished panel of industry leaders from the US, Africa, and beyond.
Subsequently, four winning companies will be selected, receiving financial support, mentorship, and the chance to collaborate with NBA Africa and the Basketball Africa League (BAL) on various initiatives across the continent.
NBA Africa, an affiliate of the NBA with a mission to promote basketball and inspire communities worldwide, has been actively expanding its presence on the African continent since the establishment of its headquarters in South Africa in 2010.
Through initiatives focused on youth and elite development, social responsibility, media distribution, and corporate partnerships, the league has been instrumental in increasing access to basketball across Africa.
Partnering with ALX Ventures, a champion of African tech talent, NBA Africa’s Triple-Double initiative aligns with US President Biden’s Digital Transformation with Africa initiative, aimed at enhancing digital access and literacy across the continent.
The accelerator program was officially announced by Clare Akamanzi at the American Chamber of Commerce’s Business Summit in Nairobi, Kenya, alongside U.S. Secretary of Commerce Gina M. Raimondo and U.S. Trade and Development Agency Director Enoh T. Ebong.
As the deadline for applications approaches, anticipation is mounting among Africa’s burgeoning startup community, as they eagerly await the opportunity to participate in this transformative program that holds the potential to reshape the future of entrepreneurship in Africa.