AfricaGrow trusts Open Startup and supports its next 3-year chapter in expanding into Africa - Starting with The Global Immersion Week and Brain MIT bootcamp as the first activities.
TUNIS, TUNISIA - African Media Agency - 7 March 2023 - Open Startup (OST)-International, a non-profit organization dedicated to promoting entrepreneurship and innovation in the Middle East and Africa, has secured a grant from its newest partner, the AfricaGrow Technical Assistance Facility funded by the German Ministry for Economic Development and Cooperation. This three-year partnership will enable OST to expand its activities in Africa, supporting entrepreneurs and startups with resources, networks, and expertise to help them succeed.
AfricaGrow's support for OST is a significant milestone for the non-profit organization, as it demonstrates its commitment to fostering a thriving startup ecosystem in Africa and beyond. OST's mission is to connect different ecosystems and create opportunities for entrepreneurs, and this new partnership will enable it to continue pursuing this goal.
As part of its new chapter, OST plans to reinforce its cross-border community of startups and focus on investment readiness with the help of partners such as BPI France, Go Ventures, and AfricInvest. The organization will also continue to build and foster deep tech in Africa through its Brain program, supported by partners such as IFC, AfrInvest, and the U.S. Embassy in Tunis, in partnership with The Legatum Center for Development and Entrepreneurship at MIT, MIT Africa, and Instadeep.
To kick off this new chapter, OST is excited to announce its two first activities, (1) the second edition of its "OST Global Immersion Week" (OST GIW) - a regional event that will bring together experts, investors, ecosystem builders, startups, and other stakeholders from Morocco, Jordan, Senegal, Tunisia, adding this year Algeria. This week is designed to foster cross-regional collaboration and offer a snapshot of the startup ecosystem in the region. The event, which will take place from March 13th to March 17th, 2023.
(2) the Brain MIT Bootcamp- a five-day training program that aims to support 30 research-scientists and that is delivered by representatives and experts from
Massachusetts Institute of Technology (MIT). The objective of this activity is to contribute to the foundation of DeepTech in Africa. The event, which will take place from March 18th to March 22nd, 2023.
Agenda of the GIW
March 13: Welcoming and Meetups
March 14: Partnerships Building Day & Tech Night
March 15: Regional Ecosystems Day & Talk: Ecosystems in Africa
March 16: Investor Day with Africinvest & Panel: Investing in Africa
March 17: GIW Ceremony- A celebration and deepdive into the MEA region
The issuer is solely responsible for the content of this announcement.
AfricaGrow is a Fund of Funds, managed by Allianz Global Investors and advised by DEG Impact, investing in Pan-African regional and country-specific private equity and venture capital funds. Attached to this fund is a Technical Assistance Facility funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) through KfW. By providing funding and technical assistance to portfolio funds, investee companies and actors of the African venture capital ecosystem, AfricaGrow aims to help businesses grow, expand their operations, create jobs, and contribute to sustainable economic growth.
As such, AfricaGrow works with local partners, associations, and accelerators to offer training programs, workshops, and networking events all over the African continent. As part of its efforts to support the start-up ecosystem in Tunisia, Morocco, and Senegal, AfricaGrow partners with OST.
Open Startup (OST) is a non-profit organization serving as a regional hub for startups in North Africa and the Middle East. OST's mission is to foster entrepreneurship and innovation by providing access to resources, networks, and mentorship across continents. Through its various programs, OST supports startups and entrepreneurs in building and scaling their businesses, driving economic growth and job creation in the region.
OST is in partnership with Columbia Engineering, Columbia Business School, U.S. Embassy Tunis, Africa Grow, AfricInvest Group, Columbia Global Centers I Tunis, Columbia Global Centers l Amman, Drosos Foundation, Innov'i - EU4Innovation, Union européenne en Tunisie, France Expertise, and The Dot.