Application Due Date: January 14 th 2019

XL has an interest in discovering high-growth start-ups from Francophone Africa that are seeking to raise in between $250 K and $5M.

XL Africa is searching for 20 scalable innovation endeavors in the late seed or pre-series A phase, well-positioned for development and cross-border growth in the Francophone Africa markets, and seeking to raise in between $250 K and $5M. XL Africa can assist with access to financing, networks, mentoring and a neighborhood of similar business owners. We can likewise assist you fine-tune your company design, grow your earnings and market share, and accelerate your cross-border growth.

ELIGIBILITY REQUIREMENTS:

  • Your start-up is for earnings and signed up, with a group of a minimum of 3 individuals
  • You have a digital or tech product/service presently readily available in among the following Francophone Africa markets: Benin, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Congo, DRC, Djibouti, Equatorial Guinea, Gabon, Guinea-Bissau, Guinea Conakry, Ivory Coast, Madagascar, Mali, Mauritania, Mauritius, Niger, Rwanda, Senegal, and Togo
  • You have a really strong management group
  • You can show concrete traction, proof of earnings and capacity to scale
  • You are looking for financial investment capital in the series of $250 K– $5M
  • While there will be exceptions, more than likely your start-up has actually currently gotten financial investment capital, as financial obligation or equity, or gotten grants from donor companies or cash prize from competitors.

LANGUAGE REQUIREMENTS:

  • The primary language of this program is French, so proficient French is a requirement for involvement.
  • The application needs to be sent in French, the interviews will remain in French, and most of Mali and France residency sessions will remain in French.
  • The last pitch at the Endeavor Display, nevertheless, needs to be provided in English, so an intermediate level of English efficiency is preferable.

Advantages:

  • Structured access to Francophone Africa-focused financiers throughout the program and at an Endeavor Display at VivaTech in Paris
  • Mentoring from 2 effective business owners or financiers (global and regional) to establish precise business assessments, monetary projections, danger management and consumer acquisition methods. Access to other knowledge is supplied based upon your particular requirements.
  • The chance to engage with financiers, domain specialists, and business partners along with peers at 2 all-expenses-paid residencies– in Mali and in France.
  • Assistance in establishing financial investment bundles so you’re all set for financial investment following the program.
  • Understanding through curated material developed to teach you whatever you require to learn about marketing, funding and market growth.

Expectation:

The 20 finalists are anticipated to take part in the one-week residency in Mali (March 25-30, 2019), where the last friend of 10 will be picked.
The picked 10 start-ups will continue with the remainder of the program and are anticipated to:

  • Engage routinely with coaches (4-6 hours a month) over 6 months.
    Remember it’s a two-way street– both coaches and mentees discover and devote to this relationship. In a lot of cases, we anticipate these relationships to last long after the program has actually ended.
  • Over 6 months, take part in as much as 5 virtual webinar sessions run by international specialists with inputs from leading African and United States financiers and effective business owners.
  • Take part in the one-week residency in France (May 13-18, 2019), consisting of the Endeavor Display at the VivaTech occasion in Paris
  • Engage with your peers part of the friend, in addition to coaches, financiers and tactical partners.
  • Featured an open mind and want to discover and team up

Choice Requirements:

  • Business Worth of your Product/Service (25%)
    The business attends to a genuine issue in the market. The digital or tech service is various from others in the market. The product and services is catalyzing social modification.
  • Technique for Development (25%)
    There is prospective to broaden in your area and into brand-new markets. We can see verifiable development and your start-up is scalable.
  • Management (25%)
    The group has actually the certifications required to make business effective.
  • Market Traction & Financials (25%)
    We will examine the marketplace traction and prospective market size. We’ll likewise take a look at business design, earnings streams and system economics, and if any outdoors financing has actually been raised prior to.

For Additional Information:

Go To the Authorities Web Page of the World Bank Group XL Africa Service Velocity Program 2018

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