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Startup generator and Early-Stage VC expands into East Africa

Startup generator and Early-Stage VC expands into East Africa

East AfricaMore NewsRegional News

Antler, a global startup generator and early stage VC, has set up its operations in East Africa.

Commencing in August, the first Kenyan cohort will include around 40 future founders, aiming to form up to 16 startups a year.

“We’re excited to launch Antler in Nairobi in August 2019, supporting Africa based founders in launching their dream startups,” said Marie Nielsen, Partner for East Africa.

“Antler will invest in 40 plus startups in Nairobi over the coming three years, stimulating innovation, job creation and helping to cultivate a deeper tech industry in the country. Not only does the Antler programme provide financial support to founders from day one, but it also offers unique access to a global network that will support East African tech companies seeking to scale internationally.”

The programme consists of two phases over five months. The first connects highly-skilled individuals to strong founder teams through workshops, personality tests and hackathons, with support from Antler coaches, advisors and VCs. At the end of this phase, Antler invests in the best teams for a minority equity stake.

In the second phase, teams build their companies to the same level most startups reach after a year. Former founders help with product launches and connect companies with their first customers. At the end of the programme, teams pitch their business to angel and seed investors. Post-programme, founders continue to receive advice and tools and also enter Antler’s alumni network.

Magnus Grimeland, CEO and founder of Antler, said: “Antler exists to enable extraordinary people to tackle the world’s biggest problems through innovation and entrepreneurship. Many never make this leap and are instead stuck in unproductive jobs. We want to change that and help individuals transform great ideas into great companies that have a positive impact on the world around us. Our program methodology and the top calibre of our advisors give our founders a massive advantage over other startups in the tech sector.”

 

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