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April 26, 2024
NBA Africa is providing capital and mentorship as part of a new initiative to support African startups, the African tech ecosystem and the next generation of tech entrepreneurs in the sports and creative industries. Operated by leading technology incubator ALX Ventures, the “Triple-Double: NBA Africa Startup Accelerator” is open to early-stage startups developing solutions across event management and ticketing, youth development, AI and digital marketing. The goal is to accelerate their growth in order to help drive the growth of African economies.
Startups can apply through May 31, after which submissions will be narrowed down to a top 10. Applicants can win prizes up to $50,000 plus value-in-kind, be connected to business leaders, corporations and multinational mentors and have the opportunity to pitch to global industry leaders this autumn. The criteria state that operations must be headquartered in Africa; submissions must align to one of the five Sports and Creative startup categories; there must be proven demand for the product and/or service; and applicants must show demonstrable impact and/or relevancy to the broader African continent.
“This groundbreaking new initiative reflects our commitment to expanding the African sports ecosystem, and these incredible companies will be at the forefront of shaping the future of sport on the continent,” stated NBA Africa CEO Clare Akamanzi at the April 25 announcement.
The 10 selected startups will then be paired with mentors comprised of NBA Africa and ALX leadership, and other corporate stakeholders, who will provide guidance to the companies with a focus on product development, business growth and go-to-market strategy. In September, NBA Africa will hold a Demo Day in New York City that will coincide with the United Nations General Assembly. Participating companies will pitch their products to a panel comprised of top industry leaders from the US, Africa and around the world. The panel will then determine the four winning companies, which will be awarded financial support, mentorship and the opportunity to work with NBA Africa and the Basketball Africa League (BAL) on their current and future initiatives on the continent.
NBA Africa is an affiliate of the NBA which has a mission to inspire and connect people everywhere through the power of basketball. The NBA opened its African headquarters in South Africa in 2010 and have since opened subsidiary offices in Cairo, Egypt; Dakar, Senegal; Lagos, Nigeria; and Nairobi, Kenya. The league’s efforts on the continent have focused on increasing access to basketball and the NBA through youth and elite development, social responsibility, media distribution, corporate partnerships, NBA Africa Games, NBA Stores, the BAL and more.
ALX Ventures partners with African tech talent to tackle the world’s greatest challenges through business. Its pan-African tech training hubs and incubators produce hundreds of new startup founders each year.
Triple-Double launched in support of US President Biden’s Digital Transformation with Africa initiative to expand digital access and literacy and strengthen digital enabling environments across the continent. The Accelerator announcement was made by Akamanzi, who was joined by U.S. Secretary of Commerce Gina M. Raimondo and U.S. Trade and Development Agency Director Enoh T. Ebong at the American Chamber of Commerce’s Business Summit in Nairobi, Kenya.
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