For Immediate Release: 23 February 2021, Johannesburg, South Africa
I’M IN Accelerator has officially opened applications for cohort 4, exclusively targeting Black women-owned early-stage technology startups. The program offers 10 month acceleration, R1,5 million in pre-seed capital, business growth mentorship, technology improvement support and commercialisation enablement as well as access to markets and follow-on investment. The applications are open here until the 5th of March 2021.
“We are looking for exciting and disruptive technology solutions across all verticals. More importantly, we want to partner with early-stage startup Black women founders that are obsessed with execution, are mission driven and very knowledgeable in their markets.”said Octavius Phukubye, I’M IN Accelerator Manager.
To qualify, startups need to have a minimum viable product, be a South African company with a 51% Black-ownership profile from a BBBEEE perspective, have visible traction in the market and committed, skilled team members who have a vested interest in the long-term sustainability of the business.
The accelerator’s mission is to produce a pipeline of investment ready startups for follow-on capital, commercial opportunities, and market growth for the ecosystem. It helps tech startups access seed investment and achieve business sustainability by providing an effective ecosystem which offers business and technical support. The accelerator recently launched a pre-accelerator program that is addressing the challenges of funding gap and access to market; and this is a continuation to tangibly continue providing an ecosystem of support for Black women tech founders.
A total of 15 startups are earmarked to be part of cohort 4. “For our 2021 cohort intake, we are deliberately looking to invest in early-stage technology startups that are led or co-founded by Black women. We believe that there are incredibly talented Black women out there solving real problems, and deserve an investor to support their growth plans,” remarked Polo Leteka, Founder and Director of I’M IN Accelerator.
To apply for the Cohort 4 of I’M IN Accelerator intake, Black women with technology ideas or concepts should go to I’M IN website and complete a short application form by 05 March 2021. For enquiries, interested founders can also send an email to firstname.lastname@example.org.
About I’M IN Accelerator:
I’M IN Accelerator launched its first program in 2015. The accelerator runs an annual cohort for 10 months, backing early-stage Black owned technology startups to achieve sustainable rapid market growth by providing R1,5m pre-seed investment, effective business, and technical support as well as commercialisation enablement. It invests in startups with teams that have demonstrated high execution rate, minimum viable product showing credible traction and market potential. Since inception, it has trained 98 technology startups, invested in 35 of them and provided capital of R38-million to date. Some of the successful tech startups that have gone through the program are Lulaloop, cARscan, Zulzi, Droppa, BrandBook, MomSays and Lightbulb Education to name a few.
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