500 Global, one of the world’s most active venture capital firms, has launched its first founder programs in Nairobi, in collaboration with the United Nations Development Programme (UNDP).
500 Global says Nairobi will serve as host for three programs it will run in partnership with UNDP this year.
According to Mareme Dieng, Partner, 500 Global, “With the launch of these programs, we are excited for 500 Global to deepen our work with African entrepreneurs and to help them adapt to this new global landscape. We are looking forward to working closely with partners like UNDP across the continent to provide the infrastructure for sustained innovation and growth.”
In January this year, 500 Global launched 500 MENA, a new fund dedicated to investing in high-growth technology startups across the Middle East and North Africa (MENA) region.
500 MENA will invest in startups both from outside and inside the current 500 Global portfolio beyond the seed stage and to catalyze further the growth of the MENA region’s burgeoning tech ecosystem.
The launch of Nairobi programs adds to the many accelerators currently present in Nairobi building the entrepreneurship ecosystem across the region.
500 Global Nairobi’s first program, the Pre-Acceleration Academy, will support founders at the earliest stage of their journey through an in-person program running October 6 – 12th. The second program, the Sustainable Innovation Seed Accelerator, will provide support for seed-stage founders who are developing sustainable innovation solutions.
The third program, 500 Global’s Bootcamp for Accelerator Managers, is designed to upskill accelerator managers and incubators within UNDP’s timbuktoo initiative, who are committed to advancing innovation across Africa. The three programs aim to support continued ecosystem development while broadening opportunities to invest in African founders across the continent.
500 Global’s Africa leadership aims to work with founders, investors, and institutions like UNDP, to become a more active participant within the African innovation ecosystem.
Together, 500 Global and UNDP hope to provide African founders the insights and expertise to navigate the evolving global landscape and capitalize on opportunities to scale, by providing support, mentorship, as well as their global network of resources.
“At UNDP, we believe that Africa’s future lies in the ingenuity of its people. Through this partnership with 500 Global, we are not just investing in startups, we are investing in innovators driving Africa’s sustainable transformation. By equipping entrepreneurs with the tools, networks, and mentorship they need, we are building a resilient ecosystem that will power inclusive growth and deliver on the promise of the Sustainable Development Goals”, said Ahunna Eziakonwa, Assistant UN Secretary General and Director of UNDP Regional Bureau for Africa.
Applications are open for all three programs. Founders can learn more and apply through the Pre-Acceleration Academy and Sustainable Innovation Accelerator Program pages.