Microsoft announces new initiatives to support 10,000 African start-ups over the next five years
Microsoft recently established the Africa Transformation Office (ATO) launched new initiatives to accelerate the growth of 10,000 African startups and fast-track investment in Africa’s startup ecosystem over the period of five years. These initiatives include a global Founders Hub which is a self-service hub that provides startups with a wide range of resources, including access to mentors, skilling content, tools like Microsoft Azure and GitHub, and go-to-market and business support. Microsoft further unveiled new partnerships with accelerators and incubators across Africa to provide industry-based startups with access to markets, technical skills, and funding opportunities. Additionally, Microsoft is establishing industry alliances and partnerships with venture capital investors that will facilitate access to US$500 million in potential funding for African startups. ‘Investments into Africa’s startup ecosystem are growing at an exciting pace. According to the Organisation for Economic Co-operation and Development (OECD), there are more than 640 active tech hubs across Africa, accelerating innovation and creating employment, particularly among the youth,’ said Microsoft Africa Transformation Office, Managing Director, Wael Elkabbany.