US-based accelerator Expert DOJO is launching an Africa programme in September, committing up to US$5 million to invest in early-stage African startups this year alone through between 20 and 50 new investments.
Expert DOJO is the third most active international early-stage startup accelerator in the United States, investing in over 100 startups since 2018. Expert DOJO will invest in over 80 startups in 2021, with plans to make over 1,000 investments over the next 10 years.
Expert DOJO, which invests $100,000 in each firm, claims that some of the best performances in its portfolio – including Akiba Digital, BokDoc, Klasha, KovaDx, Marj3, StarNews Mobile, and ThankUCash – are from Africa, and that in September it will host an Africa-only cohort for the first time.
Startups can apply for US$100,000 in funding and take part in a three-month virtual accelerator. Pre-Series A, tech-enabled startups with their principal activities in Africa are among Expert DOJO’s investment criteria. They must have products that are proven and scalable beyond the MVP stage, be capital-efficient with a clear revenue model, and have market demand that has been validated.
Expert DOJO believes in investing in founders with extra ordinary skills ,resilience and GRIT rather than Silicon Valley privilege.
Expert DOJO provides each startup with seed Investment of US$100,000 in return for seven per cent equity, three months of structured, strategic support, and access to a global network. It has assembled an Africa-dedicated team plus cross-functional experts and EIRs. Katie Sarro, former managing director of MEST Africa, serves as Expert DOJO’s Africa programme lead.
“The programme that Expert DOJO has built over the last three years is tried and true – the only thing it’s missing is localized experience and ensuring that we’re adapting our standard accelerator programming for startups targeting the Africa continent,” Sarro said.