Microsoft Ventures, the unit established in June by US-based software company Microsoft to combine its existing units, BizSpark, Bing Fund, and Accelerators, has expanded its partnership programme into Africa, selecting as its first African accelerator partner 88mph, a private seed fund based in Nairobi and Cape Town, which provides early-stage web/mobile companies with up to $100,000 in funding through a 3-month startup accelerator program.
The move by Microsoft Ventures was conducted as part of the Microsoft’s 4Afrika Initiative, introduced in February 2013 as “a new effort through which the company will actively engage in Africa’s economic development to improve its global competitiveness.”
Amrote Abdella, director, 4Afrika Venture Capital and Startup Programs, said: “Through the 4Afrika Initiative, we are deeply committed to fostering African innovation and to fueling Africa’s economic growth and competitiveness, and we are very proud to see Microsoft Ventures extend its reach into the African continent. We strongly believe that with the right support, African startups hold tremendous potential to impact both their local economies and the world’s perception of African-led innovation and entrepreneurship.”
Nikolai Barnwell, Nairobi director, 88mph, said: “Microsoft is a company that deeply understands the value of the ecosystem, and we believe that by working together, 88mph and Microsoft can offer a world-class launch pad to African startups looking to achieve true scale.”
The graduating startups from 88mph’s most recent accelerator class will participate in a DemoDay on Dec. 5 in Nairobi.