Microsoft has set up a new office in Africa called the Africa Transformation Office (ATO), and it wants to help 10,000 African startups grow faster and get more money into the startup ecosystem in the next five years.
People in Africa can now get access to a new Microsoft site called “Global Startup Founders Hub” through the ATO. Entrepreneurs can use the self-service Founders Hub to find mentors, learn new skills, use tools like Microsoft Azure and GitHub, and help them get their businesses off the ground.
Microsoft is also forming new partnerships with accelerators and incubators in Africa, such as Grindstone, Greenhouse, FlapMax, and Seedstars, to help industry-based startups get access to markets, technical skills, and funding, among other things. Companies in Africa that want to start businesses will get help from Microsoft engineers and product teams for co-inventing. These partnerships will also give African businesses access to skilling programs, markets, and technology.
Microsoft is forming industry alliances and partnerships with venture capital investors so that African startups can get access to $500 million in possible funding. This will help them grow quickly. This money will come from a group of venture capital investors who will give some of their money to businesses in the Microsoft network.
Microsoft already has partnerships with a number of important venture capital investors, such as Banque Misr, Global Venture Capital, and Get Funded Africa. In the next five years, Microsoft wants to expand this network of venture capital investors to help more businesses grow and help the economy grow.
Africa’s start-up market is growing quickly.
A strong startup market in Africa can help the continent’s digital economy grow, Microsoft says. The market is full of innovative businesses that can help solve problems in the African community.
“Investments into the startup ecosystem in Africa are growing at a very fast rate.” According to the Organization for Economic Co-operation and Development (OECD), there are more than 640 active tech hubs across Africa that are boosting innovation and creating jobs, especially for young people. Wael Elkabbany, the Managing Director of Microsoft’s Africa Transformation Office, says that this is good news for young people.
However, says Elkabbany, “today, the African startup market only makes up less than one percent of all investments in the world.” This must change. Read also; Apple “Peek performance”: How to watch and what to expect?
He says that Microsoft’s efforts to make a big difference will be based on an overall strategy with three main areas of focus.
The Founders Hub
The Founders Hub gives startups the chance to sell to Microsoft’s business and enterprise customers. Microsoft will also help start-ups with geo-expansion activities, which help start-ups grow by selling in new countries or regions, so they can grow.
“The Founders Hub allows Microsoft to connect with accelerators, incubators, and tech hubs all over the world.” Gerald Maithya, the Startups Lead for Microsoft’s Africa Transformation Office, says that Microsoft’s partnerships with key African accelerators help growth-stage startups with their business development and market expansion plans.
Partnerships with key startups
Microsoft will work with startups and businesses that work with small businesses, as well as “soonicorns” (businesses that have the potential to become unicorns) and “unicorns” in a wide range of African industries.
“We know that each startup is different and doesn’t fit into a one-size-fits-all partnership model.” Maithya: “This is why Microsoft will tailor each partnership to the needs of individual startups, giving them support and access to technology, markets, co-sell opportunities, funding, or digital skills,” she says. This will help them grow and help the African economy as a whole, she says.
The main goal of these partnerships will be to help in one or more of the following ways:
- Access to technology: Spanning from the provision of cloud credits and developer and productivity tools like GitHub to access to Microsoft’s traditional partner ecosystem, technical support and enablement. This also includes contact with Microsoft’s engineering and product teams so that they can work together to come up with new ideas.
- Access to markets: This includes the chance to co-sell with Microsoft from the SME Marketplace and the chance to work with Microsoft on expansion projects, as well as access to relevant business and government partners. Microsoft will help small businesses grow by expanding into new countries and working with other businesses.
- Access to funds: Microsoft’s partnerships with venture capital investors will provide qualified startups with access to funding.
- Access to skilling enablement: Microsoft will provide a seamless, self-contained package of high-quality skilling content. From a single interface, startups will be able to access a wide range of technical, self-paced, workshop, instructor-led, and virtual training. If you want to learn more about how to grow your business, this platform will also have growth learning tracks for you. To reach as many small businesses as possible, Microsoft is also looking into working with government programs, regional ecosystems of small businesses, and accelerators as part of its engagement model.
Partnerships with venture capital investors
Microsoft is working with venture capital investors, mostly those with global reach and bases in different parts of the world, who want to invest in one or more parts of Africa. Read more; Minecraft Goes Web3 With NFT Worlds Blockchain Layer
These partnerships with venture capital investors will help Microsoft, venture capital investors and startups find more ways to work together. This will make more money available to startups who qualify.
Elkabbany says that there is a lot of room for Africa to become a hub for digital innovation on the global startup scene. Our goal is to see a burst of African invention that will benefit both the African digital economy and the world as a whole.
