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Open Startup Launches New Accelerator Program for Startups
Startup accelerator program launch: Open Startup (OST), a MENA-focused pre-seed startup accelerator, is committed to growing the African startup ecosystem. The organization calls for applications for a $50,000 accelerator program.
Startup Accelerator Program Launch
About Open Startup
Open Startup (OST) is a non-governmental organization that fosters innovation and capacity building through entrepreneurship, education, and cross-cultural exchange.
It creates communities and connects ecosystems across the Middle East and Africa (MEA).
OST works toward leveraging networks and empowering entrepreneurs by providing them with world-class opportunities, programs, and ressources.
Benefits Of The Startup Accelerator Program Launch
The Open Startup (OST) accelerator program aims to support early-stage startups and promising talents from Tunisia, Senegal, and Morocco.
The program was developed in collaboration with Columbia Engineering and Columbia Business School in New York.
Also Read: Safaricom Chooses Nine Startups for Its Accelerator Program
The OST Program is designed to support just 30 selected startups, with 10 from each selected country. Also, it aims to advance from a proof of concept stage to a minimum viable product (MVP) over an intensive 18-week hybrid program.
Also, the accelerator program will offer customized training and mentoring delivered by experts and supported by MBA students from Columbia Business School.
Additionally, it will give access to an extensive international network, and trips to New York, Tunisia, and Morocco, designed to provide participants with international exposure and networking opportunities.
Accelerator Program Launch Duration
The program will run from September 2024 to January 2025, with a total of zero-equity $50,000 funding distributed among finalists to boost their growth, with no equity taken.
Also, applications will close on July 21, 2024. Early-stage startups with proof of concept and individuals with soft and technical skills are invited to apply on the linked websites.
Conclusion
The program comes on the heels of a Memorandum of Understanding (MoU) with French public investment bank BPIFrance aimed at bridging African innovation with the French tech ecosystem.
The agreement also led to the establishment of the 2024 Global Immersion Week (GIW) held in Morocco in May, where OST signed MOUs with key Moroccan entities.
The entities include Technopark Maroc and Mohammed VI Polytechnic University (UM6P).
An alumnus, Riadh Hamama, CEO & Founder of LoxBox Services, said, “The mentorship and the global networking accelerated our growth and opened doors to international collaboration.”
