An accelerator program is a cohort-based program to support early-stage startups through intensive mentorship, education, and financial investment. These programs typically last for a few months and aim to accelerate the growth of startups by providing them with the resources and guidance they need to succeed.

Why is it Important for African Web3 startups?

Building in and for Africa is challenging. This difficulty intensifies working in a relatively new and rapidly changing sector like Web3. The problems range from funding gaps to creating market-fit products and acquiring users to retaining them.

Many African startups encounter difficulties in accessing early-stage funding. Accelerator programs provide seed funding and connect startups with potential investors, helping to bridge this funding gap. Ultimately, successful startups can contribute to overall economic growth by generating revenue, attracting foreign investments, and promoting a culture of entrepreneurship and innovation.

Accelerator programs for Africa Web3 founders

Here are three accelerator programs for Africa web3 startup founders.

1) CV Labs Accelerator Program

CV Labs Accelerator Program is designed to support and promote blockchain startups in different continents, including Africa. It is part of the broader CV Labs ecosystem, based in Switzerland, and focuses on fostering blockchain innovation and entrepreneurship worldwide.

The program typically runs for about three months. During this period, startups receive intensive support to refine their business models, develop their technology, and prepare for market entry or expansion.

The venture capital company CV VC may invest up to 150K USD in your startup in exchange for 6% equity and 4% future token supply.

2) Celo Camp

Celo Camp is an eight-week virtual accelerator program focused on startups building monetary systems on the Celo blockchain.

The program accepts startups at any stage, whether you're in the ideation phase or an established startup aiming to scale. Celo Camp looks for projects promoting financial inclusion by reducing barriers to accessing crypto and DeFi.

3) Outlier Ventures Base Camp

Outlier Ventures runs a Web3 accelerator called Base Camp, supporting blockchain and Web3 startups.

Outliers Ventures offers a 12-week dedicated support program with access to their network, and an additional 2 months of fundraising support. Participants can receive up to $100k in stipends as part of the program and up to $200k in follow-up investments, subject to terms.

In return, they require an agreed equity stake and a share of future token supply, with the option to join future equity rounds, token rounds, and NFT drops at a discount.

They are interested in projects involving high-level narratives that drive innovation, such as RWA, Bitcoin, Gaming, Depin, and AI.