MultiChoice has launched the MultiChoice Accelerator to develop and connect South African startups with global investors to unlock business opportunities at Expo 2020 in Dubai. The Accelerator programme forms part of the MultiChoice Innovation Fund.
MultiChoice has partnered with C3 (Companies Creating Change) to facilitate the programme. C3 is a United Arab Emirates (UAE) based social enterprise with a footprint in 17 countries across the Middle East and Africa. C3’s network of experts and trainers will deliver an intensive Investor Readiness (IR) programme. The finale of the programme will be a series of presentations to the global start-up investment community. Each of the start-ups’ journey will be documented for a new docuseries to be shown in November 2021.
The programme will be delivered in collaboration with Galelo Africa, a black-owned South African financial advisory firm that currently manages the MultiChoice Innovation Fund. Galelo Africa identified qualifying start-ups across South Africa to be considered for the MultiChoice Accelerator programme. They provided selected businesses with support to develop their business cases, which included product and business development and financial management. Galelo Africa will also prepare the founders to be ready to present their business cases in the UAE and beyond.
“MultiChoice is committed to developing start-ups and establsihed businesses, so they can play their role in growing the South African economy. The MultiChoice Accelerator is the first of its kind for us, where we will have the opportunity to present remarkable home-grown businesses to a global audience. Our MultiChoice Innovation Fund fast-tracks start-ups and founders with ground-breaking ideas to industry leaders,” said Imtiaz Patel, Chairman of the MultiChoice Group.
The MultiChoice Accelerator held its opening ceremony on 19 September. The opening ceremony welcomed different stakeholders from MultiChoice, C3, and the Department of Trade, Industry and Competition as well as the 20 selected South African start-ups from a range of sectors, including FinTech, Creative Industries, HealthTech, Agri-Processing, Sustainability and EdTech.
Over the next few weeks, the entrepreneurs will receive guidance on critical business fundamentals and be exposed to expansion and fundraising opportunities. They will also have access to C3’s ecosystem of more than 4,000 experts, 600 entrepreneurs and 100 investors. Out of the 20 start-ups taking part in the programme, six will be selected to attend Expo 2020 in Dubai for a week in January 2022.
Each of the 20 start-ups will take the C3 Growth Predictor test to evaluate their strengths and weaknesses, attend 26 hours of training, and submit a three-minute video pitch to evaluators, which will be assessed to select the six who will participate in Dubai Expo.
“We are very excited to be partnering with the MultiChoice Innovation Fund to support the 20 South-African start-ups amplify their impact and get their businesses to investor readiness level. The unique C3 learning journey represents a great opportunity for the entrepreneurs to gain knowledge from subject experts and from other founders on the cohort. C3 will provide them all the support they need to connect with a wider network of experts, investors and blue-chip partners across the Middle East and Africa region,” said Medea Nocentini, C3 Co-Founder.
“We believe our partnership with C3 will make a significant impact to these start-ups – they will get their moment in the spotlight. I have no doubt they will embrace this unique opportunity,” Patel concluded.
Expo 2020 Dubai runs from October 2021 to March 2022. Africa’s leading video entertainment company, MultiChoice, is South Africa’s official media broadcast partner for the World Expo.