AfriLabs, an organization dedicated to supporting innovation hubs and fostering entrepreneurship in Africa, has launched the AfriLabs Connect Deal Room (ACDR), an initiative designed to tackle the significant challenges of identifying, funding, and providing access to investible startups across the continent.
As a network organization, AfriLabs plays a pivotal role in stimulating innovation and entrepreneurship by connecting technology hubs, startups, investors, and other essential players in the ecosystem. Currently, it boasts a membership of over 430 entities.
The announcement of the ACDR was made during AfriLabs’ 2023 Annual Gathering event. The ACDR is focused on streamlining the financing process for innovative startups in various sectors across Africa, while simultaneously offering investment funds access to a curated, pan-African pipeline of investible and de-risked startups.
In an effort to foster a vibrant investment ecosystem, funds and investors are encouraged to register their portfolio startups into a private pool via the Deal Room. This pool simplifies the matching process of companies with potential investors based on specific criteria such as ticket sizes, sectors of interest, and other detailed specifications, leveraging artificial intelligence for precision.
Moreover, AfriLabs’ extensive network, encompassing over 500 physical innovation and technology hubs spread across 54 countries and more than 250 cities, plays a crucial role in supporting the ACDR initiative. This network is instrumental in facilitating pan-African collaboration and providing additional investment readiness resources to the startup founders participating in the initiative, thereby ensuring ongoing support and fostering a thriving entrepreneurial environment across the continent.
Global venture capital networks such as Renew Capital, International Accelerators, Neterra Capital, along with business support tools and services like Silicon Valley in Your Pocket, are among the pioneer partners in the AfriLabs Connect Deal Room (ACDR).
Ajibola Odukoya, the Chief Operating Officer of AfriLabs, stated, “The AfriLabs Connect Deal Room is particularly aimed at hubs that house mature startups looking to scale with substantial Pre-Series, Series A, B, and C type funds. We have curated an investor pipeline with a focus on Africa. These investors are tailoring their business strategies to the continent’s unique dynamics and are prepared to support startups poised for significant growth.”
The ACDR will be operational on AfriLabs Connect, a dedicated ecosystem engagement platform designed to bring together Africa’s largest community of innovation enablers. This initiative represents a significant leap forward in elevating Africa’s startup ecosystem, underlining AfriLabs’ dedication to promoting innovation, collaboration, and sustainable development throughout the continent.
