The Her Startup program is inviting applications from African female entrepreneurs seeking to enhance their business acumen and secure funding. This program aims to address the challenges faced by women in the entrepreneurial landscape by providing a unique combination of training, funding, and mentorship.
Her Startup is designed to support early-stage companies led by women, particularly those in emerging industries with high growth potential. The program will offer selected participants up to $5,000 in funding, intensive training over 14 weeks, and a year of mentorship from experienced entrepreneurs and industry experts.
The application process is structured into four main steps:
1. Selection of Applicants: Candidates must meet specific criteria to be considered for the program. Eligible applicants must be female founders or CEOs of tech-enabled businesses based in Africa, aged between 18 and 35, and have been operating their business for at least six months. Additionally, the business should generate a minimum monthly gross revenue of $500. The program aims to select a diverse group of companies, with no more than 20% being fintechs and at least 15% from Francophone Africa.
2. Training: Selected applicants will undergo an intensive four-month training program facilitated by the Founder Institute (FI), one of the world’s largest pre-seed accelerator programs. The program covers the costs of training and provides founders with an allowance during this period. Upon successful completion, participants will receive a certificate and become eligible to apply for funding.
3. Funding: After the training, participants will pitch their business models to an investment committee for a chance to secure funding. The average funding amount is expected to be around $5,000, structured as convertible revenue-based financing.
4. Mentoring: Funded startups will benefit from a year-long mentorship program, featuring monthly meetings and support for specific challenges as they arise. This mentorship aims to guide entrepreneurs through the complexities of running a business and help them achieve their goals.
The Her Startup program not only provides financial support but also focuses on building a robust foundation for female entrepreneurs through education and mentorship. The training will equip participants with essential skills needed to navigate the business environment effectively, while the funding will help them scale their operations.
In addition to the core offerings, successful graduates will have access to co-working spaces and healthcare coverage for one year. Based on their performance, they may also receive further support for additional capital raises.
Empowering women in entrepreneurship is crucial for economic growth and development. Female-led businesses often face unique challenges, including limited access to funding and resources. Programs like Her Startup aim to bridge these gaps, fostering a more inclusive entrepreneurial ecosystem.
Interested candidates are encouraged to apply before the deadline of September 13, 2024. This initiative represents a significant opportunity for African female entrepreneurs to gain the skills, funding, and support needed to succeed in their ventures.
For more information and to apply, visit the official program website. This is a chance for aspiring female entrepreneurs to turn their ideas into successful businesses and contribute to the economic landscape of Africa.
