The Anglo American Foundation (AAF) has joined forces with Grindstone, a renowned accelerator known for fostering high-growth entrepreneurship, to establish an accelerator in South Africa that supports and empowers entrepreneurs in the green sector.
According to reports by Disrupt Africa, “The partnership’s objective is to identify and nurture 15 startups in the technology and technology-enabled fields by providing them with a unique opportunity to secure funding and access the market.”
This collaboration aims to promote sustainable practices and environmental stewardship, with a strong emphasis on generating employment opportunities for South Africa’s young population.
The Grindstone accelerator for 2023 will be a six-month program tailored specifically for post-seed to Series A startups in the green sector.
By leveraging the ecosystem and strategic partnerships, Grindstone will select 15 green startups with high growth potential and a focus on innovation for this year’s accelerator.
The chosen startups will receive specialized support to prepare them for funding, including a comprehensive evaluation of their gaps, workshops covering various aspects such as strategy, marketing and sales, funding and valuation, and monthly coaching sessions to delve deeper into their needs.
At the end of the program, the winning company will also receive a monetary incentive. Furthermore, the startups will graduate with access to a lite data room and a network of potential investors.
Managing partner at Grindstone, Catherine Young expressed enthusiasm about collaborating with the Anglo American Foundation on this groundbreaking initiative.
She highlighted the significant increase in green economy startups applying to their programs over the past 24 months, as well as the intentional strategy of enhancing diversity by including more youth and female-founded businesses in their cohorts.