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Founders Factory Africa partners Standard Bank to build & scale 100 technology startups

Milcah Lukhanyu by Milcah Lukhanyu
2 years ago
in Startups
7 min read
0
Roo

Roo

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London-based startup accelerator Founders Factory has launched its first international location for Founders Factory  in Johannesburg, South Africa to build and scale a further 100 technology start-ups.
The accelerator has partnered with Standard Bank, sub-Saharan Africa’s largest bank with hundreds of physical branches across Africa, thousands of ATM’s and a full swathe of business and consumer banking services to help provide infrastructure, logistics and talent.
“To help ensure our success, we are teaming up with Roo Rogers who will become CEO of Founders Factory Africa. Roo, former partner at renowned design agency fuseproject and leader of the US & UK government backed Spring accelerator, brings extensive experience working with entrepreneurs across Africa over the course of the past decade. Together we will be building out a 40 strong-team over the next year as we scale our operations and announce additional corporate investors,” the firm announced.
Founders Factory Africa Accelerator offer an operational team of local and global specialists, a tailored and comprehensive 6-month program, corporate infrastructure and business opportunities, access to a local and Global VC and investment network and the wider Founders Family and ecosystem plus £30,000 cash and £100k+ in services.
Founders Factory is looking for startups that are in-market, with customers/users, post-revenue (not necessarily profit-generating), have a strong founding team, its business can scale Africa-wide and is technology-enabled, but not necessarily tech-focused in sectors including finTech, health, retail, energy, transportation, education operating in any country in Africa, or outside Africa but wishing to enter/scale into the continent.
“Founders Factory Africa will transform Africa’s startup economy by designing purpose built scalable technology businesses, deliver new capital flows and develop the best talent,” said Roo. “We will be creating and growing businesses in Africa across four sectors: health, energy, fintech and education. With a focus on scale, technology and impact, our businesses will serve the needs of economies that are facing unprecedented growth and demand for utility-based products and services.”

As the lead investor in Founders Factory Africa, Standard Bank is opening up its incredible infrastructure and vast assets to support Africa’s startup community. Fintech startups accepted into Founders Factory Africa will have access to branches, big data, insights into regulation, brand and customer acquisition, as well as capital structuring expertise. This bespoke corporate engagement and strategic investment ushers in a new era of collaboration- instead of competition – for African startups.

READ  CiTi's Women in Business programme Opens for Western Cape Women Entrepreneurs

According to Henry Lane Fox, co-founder Founders Factory, “We believe in the power of entrepreneurship to stimulate economies, reinvent industries and improve societies. By bringing together an amazingly ambitious management team, forward thinking investors, and the knowledge that we have gained from operating in Europe over the past three years, we hope to become the best partner for founders in Africa.”

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Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

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