French president to allocate more budget support to African start-ups

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Digital Africa works on scaling up African startups offering high-level impact on the real economy. The redesigned structural organization is better aligned with how Africans the actors of innovation and ecosystems operate. Digital Africa will be more agile in the deployment of its activities.

President Emmanuel Macron announced a renewal 130 million euros for the next three years while defining the new ambitions of Digital Africa to support technological innovation and entrepreneurship across the continent. Based in Montpellier, the Digital Africa teams have unveiled new programs. The team announced the Fuze project focused on Francophone Africa while supporting 200 tech startups since early 2022 by launching small-scale funds in stages of € 10,000 to € 200,000 while taking the form of repayable loans. In skills, Digital Africa is joining forces with Make IT and the German government to set up Talent4StartUps – a scholarship program aimed at meeting the needs of talents trained in tech and digital technology and the beneficiaries will be put in touch with startups in active recovery.

Digital Africa will continuously develop non-financial activities despite the possibility of raising funds from other private and public donors.

Stéphane-Eloise Gras, CEO of Digital Africa described how the new organization “Strengthen our commitment to technological innovations” made in Africa “and become a factory for future African unicorns. “

He also recalled the partnership with Proparco as a means of offering “ideation and seed support for growth and hypergrowth.

The Digital Africa team is preparing a roadshow scheduled for the end of the quarter to support several regions in order to strengthen ties with key players and partners in the continent’s ecosystem.

CEO of Proparco Gregory Clement underlined how Proparco and Digital Africa are doing “allow the creation of a continuum of investment tools ” current of “from the first stages to the most mature projects.

Digital Africa was launched in 2018 and works with African tech entrepreneurs capable of designing and scaling groundbreaking discoveries on the real economy. Now a € 130 million initiative, Digital Africa brings together partners of all nationalities from universities, startups, incubators, venture capitalists, institutional financiers and technology clusters. To date, more than 73 million euros have been allocated to startups operating under the common framework of AFD, Proparco and Digital Africa.

https://twitter.com/DigitalAfrica__/status/1446830113245519879



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