The GSMA Ecosystem Accelerator Innovation Fund is set to announce call for applications for its third cohort.
The accelerator provides selected start-ups in Africa and Asia with grant funding, technical assistance, and the opportunity to partner with mobile operators in their markets to help scale their products and services into sustainable businesses with positive socio-economic impact.
Since its first round was opened for applications in July 2016, GSMA has received hundreds of applications from start-ups in Africa and Asia working on the sharing economy and services for Micro, Small and Medium Enterprises (SMEs) and addressing the Sustainable Development Goals.
Each of the selected startups receives between £100,000 ($139,000) and £250,000 ($347,500) in funding. The fund is supported by the UK Department for International Development, the Australian Government, the GSMA and its members.
The second round of GSMA’s Innovation Fund was launched in June 2017 and included startups like Kenya’s Twiga Foods, Kytabu, an edtech startup. The programme requires applicant startups to get a commitment from a matching funding source, an equity investor to provide financial support. The selection process until the financing is approved could take about six months.
