By Amrote Abdella, Director 4Afrika Venture Capital and Startup Programs
As leading Harvard Professor, Michael Porter, once said: “Innovation is the central issue to economic prosperity.” At Microsoft we couldn’t agree more, which is why one of our goals is to empower Africans to make the most of, and monetize their own business ideas. There is certainly no shortage of brilliant ideas on the continent, but no matter how bright they burn, they require time, investment, and the right tools to become a blazing, fully-fledged business.
This is why we are so excited to announce that Microsoft’s Ventures partnership program is expanding into Africa, starting in Kenya. Microsoft Ventures was created to give startups a leg-up by providing access to tools, technology and training. Kenya is quickly being recognised as an innovation hub, particularly in the mobility space. It’s been reported that there are 74 mobile phones for every 100 Kenyans and, of those who access the internet, 99% do it via a mobile device.
Expanded to Africa as part of our 4Afrika Initiative, Microsoft Ventures speaks to our belief that technology can accelerate growth for Africa, and Africa can also accelerate technology for the world. Around the world, Microsoft Ventures selects strategic accelerator partners in each region to provide local market expertise. For our venture into Kenya, we’ve selected 88mph for its proven track record in helping local entrepreneurs turn ideas into thriving businesses. Since opening up in July 2011 the company has already graduated 32 startups. That equals nearly one success story for every month they’ve been in operation!
One of my favourite stories and a prime example of what we hope to achieve with this partnership, is a company called Gamsole, started by Nigeria’s own Abiola Olaniram. Abiola had a vision of creating his own tech company, capitalising on the growing mobile space and people’s love of entertainment in Africa and all over the world. Funded by 88mph and Microsoft’s BizSpark program, he started developing Windows Games and is now the highest paid Windows game developer in Africa, with over 1.5 million downloads. This is just one example. You can read about dozens more on the Microsoft Ventures website.
We want to remove as many barriers as we can to enabling a startup to thrive. The program is simple: those who are interested can apply to an immersive 3-6 month
accelerator program. The only requirements are a full-time founding team and less than $1 million raised. Qualifying companies will have access to mentors, technical and design experts, development tools and key resources.
Ultimately, we want to see a thriving African startup ecosystem contributing to Africa’s economic development and competitiveness on a global scale. We feel strongly that by partnering with 88mph we are helping to pave the way to a better, stronger future.