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Jasiri Growth Accelerator // Apply Before 30th May
Applications are open for the Jasiri Growth Accelerator 2024.
The Jasiri Growth Accelerator is designed to provide comprehensive support to existing businesses with substantial growth potential, assisting them in reaching crucial growth milestones and preparing them for investment.
This program targets startups from Rwanda and Kenya that have pioneered market-creating innovations, which are businesses dedicated to solving complex challenges and delivering valuable goods or services to a broad previously underserved audience.
To be eligible for this accelerator, these businesses are required to have achieved product-market fit. Early-stage businesses often face fundraising challenges due to inadequate traction. This accelerator supports ventures by bridging the crucial funding gap that exists for them.
Overview
Ventures focused on Market Creating Innovations face unique challenges while needing significant investment support.
The Jasiri Growth Accelerator partners with founders to devise a customized Development Plan. This plan focuses on supporting the ventures to address challenges and reach milestones that will have the greatest impact on their business growth and position them to attract funding and/or investment.
The accelerator provides access to key advisors, coaches, mentors, and networks, as well as dedicated venture builders to work alongside founders as they take this catalytic leap.
Eligibility Criteria
The Growth Accelerator focuses on startups from Rwanda and Kenya offering defensible market-creating innovations, whether this innovation rests in their products or their business models.
These businesses must have achieved product-market fit.
In summary, to be accepted a startup must show:
- Large potential market.
- Market-Creating Innovation Potential to address non-consumption i.e trying to solve difficult problems and providing goods or services that were previously not accessible or affordable to a large number of people.
- Existing user base.
- Generating revenue.
- Consistent growth in revenue or user acquisition.
- Proof of legal Registration and tax compliance in Rwanda or Kenya.
Growth Accelerator Offering
- A funding amount of US$75,000 per venture, delivered through a mix of direct and indirect funding.
- Mentorship and Coaching
- Financial reporting and accounting support
- Market validation
- Office space if required, and support in identification and selection of service providers
- Networking opportunities
- Introsuction to potential partners
The structure
Acceleration (10 months)
- Bespoke Programmatic Interventions
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- Targeted Strategic Intervention Support: Startups receive structured project-based support from expert service providers and Venture Builders, aimed at driving the achievement of specific milestones identified in the development plans.
- Venture Building Support: Startups will meet regularly with their Venture Builder as required to receive strategic guidance on implementing the development plan initiatives and managing support provided by service providers where relevant.
- Development Plan Ratification: The development plan is to be reviewed and ratified on an ongoing 6-weekly basis or as otherwise deemed necessary, as the startup refines its offering and improves traction.
- Progress Tracking:Startups provide monthly reports on progress, including key operational updates, performance updates on service Providers delivery, and venture performance against agreed financial, operational and impact measures and milestones.
- Advisory Support and Guidance: In addition, the JGA Program team (including the Program Lead, Venture Builder, service provider(s) and selected Guests/Advisors) will meet with the startup on a 6-weekly basis to review progress and provide guidance and insights on key questions and issues identified by the founding team.
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- Funding Readiness Support & Investor Exposure
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- Strategy Intervention: Startups are supported in identifying immediate expansion opportunities, evaluating different sources of available funding and identifying prospective investors.
- Financial Modeling: Startups are assisted in creating a three-year financial forecast model.
- Valuation: Startups are assisted in creating a valuation (e.g. Discounted Cash Flow).
- Data Room Preparation: Startups are supported in creating a strategically structured and accurate data room.
- Pitch Deck Preparation: Startups are assisted in revising their existing pitch decks to incorporate critical information required by investors. Startups are also supported to refine their pitch presentation skills (i.e. confidence, demonstrating a clear understanding of the business and answering investor questions).
- Investor Introductions:Identification of investors whose mandates align with the selected status
- Investor Roundtable: Startups present to the mandate-fit group of investors with the potential for co-investment.
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Selection Process
Applicants complete and submit the JGA program application via the Accelerator App. Application requirements include:
- Preliminary Information
- Team Information
- Overview of Business & Business Concept
- Business Traction and Targets
- Use of Funds if Selected to Join the JGA
Note: Completed applications are to be submitted via the Accelerator App by COB Friday, May 31, 2024
