The operator of DSTV expanded its program to Ethiopia and seven other African countries after a successful launch in South Africa, where six startups it accelerated secured $16 million in funding.
The entertainment company says many more small businesses in Africa’s technology sector now have the chance to benefit from the 2023 program.
MultiChoice, a media and entertainment giant from South Africa, provides satellite television services with brands such as DStv and GOtv. MultiChoice has a viewership of more than 20 million people across 50+ countries.
Its accelerator program was started in South Africa last year, and it aims to support established start-ups and small enterprises in specific technology sectors, including health tech, agri-tech, fintech, edtech, the circular economy, and the creative industries.
Apart from Ethiopia, the Accelerator is expanding to Ivory Coast, Senegal, Nigeria, Ghana, Kenya, Zambia, and Angola.
The initiative equips emerging entrepreneurs to secure funding and scale up their businesses, and also provides opportunities to pitch to international investors.
The Program is an initiative of the MultiChoice Innovation Fund, in collaboration with Dubai-based business incubator Companies Creating Change (C3), which gives entrepreneurs access to the tools, skills, and financial support they need to grow their businesses.
Public and private sector partners in each nation nominate companies or entrepreneurs for the program during the first phase of the program. Selected startups then start a rigorous virtual training program.
The initiative is aimed at established businesses that are already operating and looking to scale up by attracting further investment.
The online training program lasts for several weeks and teaches startup business owners how to use the media effectively, how to sell their companies to investors, how to write compelling business plans, and what potential investors are searching for.
Later, the entrepreneurs will come together at a finals event, where 11 start-ups will be selected for the final pitch phase. They will attend a dedicated C3 boot camp to learn how to shape their story for international investors and to get “pitch ready” before their big presentations.
Last year’s MultiChoice Accelerator secured $16m million in funding for six emerging African tech businesses at the Dubai Expo 2020.