Gen F, an initiative facilitated by Founders Factory is set to invest $250,000 in startups from Africa through its Entrepreneur in Residence program.
The program will also provide the founders of these startups with a budget for experimentation and access to expert guidance.
Founders will also be included in an ‘Entrepreneur In Residence Venture Design Studio’ that combines venture studio and VC models to deliver investment and hands-on support to early-stage founders dedicated to devising solutions for local challenges.
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The initiative aims to help founders bootstrap their new ideas as they cannot bear the financial risk of novel concepts and ideas. it will reach previously excluded or underserved communities, by creating accelerated access to new products and services through technology while opening up new markets and commercial opportunities.
Program details
- A 12-week sprint with its Venture Design Studio
- A one-time budget for conducting market validation experiments.
- Close collaboration with venture builders to refine the concept and prepare for the Investment Committee (IC).
- Complimentary access to studio services for launching your startup upon approval.
- Selected startups to receive a $250,000 seed funding injection upon successful pitching
- Startups benefit from specialized assistance in various areas, including product development, UX/UI, data science, engineering, business development, and growth marketing.
- Startups to gain access to distribution channels, customer acquisition opportunities, pilot programs, data resources, intellectual property, and valuable insights from corporate investors.
Eligibility Criteria
- Individuals with prior startup experience who comprehend the demands of developing startup concepts
- Subject matter experts equipped with a unique understanding of the problem they aim to address
- Corporate professionals seeking a transition to entrepreneurship due to an identified gap in the market
- Seasoned operators with a history of working in African startups
- Visionary founders with well-researched concepts addressing profound African challenges in expansive markets
- Founders capable of dedicating full-time efforts to refine and validate their concepts for 10-12 weeks, subsequently transitioning into their startups full-time
- Ideas demonstrating the substantial potential for commercial returns alongside the inherent impact
- Founders positioned at the earliest stages of constructing their startup idea (pre-revenue)
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