Business accelerator and Angel seed fund launches in Uganda

By Ben White on July 12, 2012

Angels Finance Cooperation is a business incubation and financing organization whose aim is to support the growth and commercialization of businesses in Africa, and then specifically in Uganda. The CEO George Bakka explains in a recent correspondence, ‘Following the successful launch of Mara Launchpad, Angels Finance Cooperation is glad to officially introduce to you Angels Ventures. Angels Ventures is an entrepreneur centric business accelerator and venture capital fund focused on high growth innovative market driven ventures and social enterprises started to solve problems in Africa.”

The Kampala based initiative looks for market-driven businesses and scalable social impact models that solve identified social problems in areas of technology, communication, health, education, financial inclusion and housing, to name but a few. CEO George Bakka, expands, “We are launching because we believe supporting entrepreneurship and business development is the most effective way to solve the challenges we face in Africa and the world today.”

Angels Ventures is a six week business acceleration ecosystem/program that runs twice a year. The program enables the most innovative 25 entrepreneurs to scale their businesses towards further commercialization. Under the Angels Ventures program they bring together entrepreneurs, mentors, consultants and corporate companies. The approach is geared to getting entrepreneurs improved access to the critical resources they need. This includes managerial support, business and entrepreneur training, and a chance to attain early capital through pitching. The firm builds on established relationships with private investors and venture capital funds sourced both locally and internationally. “We are participating in the ventures because it reduces the time and cost a startup incurs from ideation to market stage. A startup thus grows much faster than building in the absence of such support,” explains Elijah Bee, a Co-founder.

Applications for this year’s first program can be submitted via the website.

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