Apply for Open Startup’s GROW Program to Secure $1M Funding

Open Startup (OST) has announced the launch of the second cohort of its acclaimed Investment Readiness Program, GROW. This program is designed to empower advanced African startups by equipping them with the necessary tools and resources to scale their businesses and secure substantial funding.

Building on the success of last year’s cohort, which saw 13 startups selected from over 600 applications, the GROW program continues its mission to support the growth journeys of promising African startups. Here’s an in-depth look at what the program entails and how it can benefit aspiring entrepreneurs.

What is GROW?

GROW is a 12-month investment readiness program specifically tailored for African startups that have already raised up to $350K USD and are now aiming to reach their first $1M USD. Developed in collaboration with prominent organizations like AfricaGrow, Africinvest Group, BPI France, and Go Ventures, the program offers a comprehensive suite of resources and support services.

Program Benefits

1. Business Assessment:

• Curated Workshops: Startups will participate in workshops specifically designed to address fundraising strategies and business scaling.
• Personalized Content: Tailored materials and content to meet the unique needs of each startup.

2. Hands-on Support:

• One-on-One Meetings: Direct mentorship and guidance from industry experts.
• World-Class Coaching: Access to top-tier coaching to help refine business models and strategies.
• Regular Check-Ins: Continuous progress tracking and feedback sessions to ensure startups are on the right path.

3. Investor Access:

• Networking Opportunities: Connect with a broad network of individual and institutional investors.
• Pitch Events: Opportunities to pitch ideas directly to potential investors.

4. Regional Exposure:

• Financial Support: Assistance to participate in international ecosystem events, expanding the startup’s reach and exposure.

5. Talent Fellowship:

• Financial Assistance: Funds to hire top-tier talent essential for scaling the business.

6. Community:

• Diverse Network: Join a vibrant community of fellow entrepreneurs, fostering collaboration and support.
• Ecosystem Connectivity: Engage with a broader startup ecosystem across Africa and beyond.

7. Technical Assistance:

• Expert Guidance: Optimize IT systems, secure intellectual property, ensure code quality, and maintain data security with expert advice.

Eligibility Criteria

To be eligible for the GROW program, startups must meet the following criteria:

• Stage: Seed-stage startup operational for less than 4 years.
• Team: Consist of 2-4 co-founders, with at least one African co-founder.
• Geographical Impact: Operating in or impacting Africa with a strong team and proven execution capacity.
• Financial History: Raised up to $350K USD.
• Funding Goal: Seeking to raise $1M USD.

How to Apply

Applications for the GROW program are now open. Interested startups are encouraged to apply via the provided application link by August 31st.

About Open Startup (OST)

Open Startup (OST) is a non-governmental organization committed to fostering innovation and capacity building through entrepreneurship, education, and cross-cultural exchange. By creating vibrant communities and connecting ecosystems across Africa and beyond, OST plays a pivotal role in driving entrepreneurial success on the continent.

Why Apply?

Participating in the GROW program offers startups an unparalleled opportunity to scale their businesses, connect with investors, and become part of a dynamic entrepreneurial community. With tailored support, expert guidance, and financial assistance, the program is designed to help startups overcome challenges and achieve their growth goals.

Conclusion

The GROW program by Open Startup is more than just an investment readiness initiative; it’s a gateway to substantial growth and success for African startups. By providing a robust support system and access to valuable resources, GROW is set to empower the next generation of African entrepreneurs to reach new heights. For more information and to apply, visit the application page.