OceanHub Africa Acceleration Program 2022 // Apply by 22nd May
OceanHub Africa Acceleration Program 2022 // Apply by 22nd May
OceanHub Africa is launching the third cohort of its eight-month acceleration program to support up to ten of Africa’s most promising impact for-profit startups focused on preserving and restoring the health of the ocean.
The accelerator is on a mission to support ocean-minded start-ups with the express aim of nurturing an environmentally conscious and profitable economy that effectively mitigates the effects of global warming as well as the overexploitation and pollution of the oceans.
Leveraging its highly qualified network of stakeholders and facilitators, it will deliver to the accelerated start-ups an online program that seeks out sustainable pathways yielding stable profits (ROIs) and avenues for scalable growth throughout Africa.
What you can expect from OceanHub Africa Acceleration Program
Become part of OceanHub Africa portfolio will allow you to:
Unlock a network of leading ocean experts, mentors (entrepreneurs, investors, innovation experts, impact experts, scientists, lawyers, etc.), impact investors and potential clients.
Get support to fast-track your growth by acquiring new customers or running your first Proof of Concept, and scaling your business through commercial contracts and fundraises.
Engage with like-minded entrepreneurs within the Blue Economy space.
Access to Dassault Systèmes, Amazon Web Services and international marketplaces and/or salesforce for finished products of accelerated startups
Advisory sessions with: Cullinan & Associates (international environmental law firm), Cape AI on machine learning and AI implementation, Macrocomm on data management and implementation of IoT, Blue Oceans Partners (ocean impact Venture Capitalist fund), Ocean14 Capital (ocean impact Private Equity fund), WWF-SA, Dept of Oceanography University of Cape Town, EuroSIMA (oceantech experts) and more!
Mentorship & Support
Participation in an in-person training bootcamp in Cape Town
Tailored business skills and personal development 1-1 coaching
Sales, Product Development, Communication and Business Development Support
Access to our network of scientific, business, impact and investment experts from international corporations, foundations, universities and IGOs
Network
Access to networking events and conferences, including a stand and stage time at the Ocean Innovation Africa annual summit
Access to potential clients (market leads) for local and international expansion
Access to our international network of ocean-impact incubators/accelerators to scale overseas
Access to key external partners
Fund-Raising Support
Potential funding of up to 10k USD
Support in preparing and running investor pitches, including training sessions with partner investors directly
Support in structuring deals, including reviews by transactional and commercial lawyers
Access to a large portfolio of impact investors part of our ecosystems (inc. SWEN Blue Oceans, Ocean14 Capital, Finca Ventures, Conservation International Ventures, Builders Vision, AquaSpark, Athelia …) as well as corporate venture capitalist funds
Note: this year, our program will be operated in a hybrid format with 1 in-person bootcamp in Cape Town and remote sessions using online tools and communication methods.
Eligibility
Your start-up is ocean-minded: it has a direct or indirect positive impact on the oceans (addressing climate change, pollution or overexploitation of the ocean)
You are a for-profit and operate in Africa
You have a scalable service or product available on the market or soon to be available on the market
Your product or service is clearly innovative and/or your business model is disruptive
You are looking for investments or new markets
Selection criteria
Impact and Vision
How much is environmental and/or social impact embedded into your culture and/or part of your long term goals
How impactful is your business with respect to ocean pollution, overexploitation, and/or tackling global warming and its effect on oceans
Business Model
Product-market fit and market potential
Innovative approach
Current traction and/or growth strategy
scalability
Technology
IP owned
Business built on reliable technology(-ies) including both software and hardware
Innovation
Adaptability and scalability
Team
Team size
Team background
Relevance of distribution of responsibilities, priorities
Ambition and passion
Timeline 2021
4 April – 22 May: Application period
23-27 May: Screening of the applications
27 May: Announcement of short-listed start-ups
31 May – 7 June: Pitch training
15 June: Pitching session in front of the final selection committee
20 June: Final selection and announcement to Selection Committee.
13 July: Public Announcement of start-ups selected
Availability (at least 1.5 full-time equivalents dedicated to the project)
Transparent communication and cooperation
2 key C-level team members minimum involved in the acceleration program
Commitment to cover the traveling cost of 1 representative for the in-person bootcamp in Cape Town (air transport and visa)
Reporting to OceanHub Africa and to other stakeholders
Success fees of up to 3% on the next fundraising (over the duration of the program + 2 years) and success fees of up to 10% on commercial contract obtained through OHA’s introductions