Deadline: 17-Nov-21
Applications are now open for the Growth Accelerator Malawi Programme, a 12-months business acceleration programme for youthful high-impact post-revenue businesses looking to grow and scale.
The Growth Accelerator Malawi is a 12 months’ business accelerator targeting young impactful and innovative ventures across Malawi and in all industries.
Growth Accelerator targets post-revenue businesses to assist them to scale and grow with a combination of blended financing, mentorship and business development support.
Benefits
- Up to USD40,000 in co-financing: Growth Accelerator supports entrepreneurs with up to USD40,000 of business financing i.e. entrepreneurs may request any amount between $10,000 – $40,000. The funds requested are unlocked by entrepreneurs matching the requested amount from the accelerator with 30% of their own funds or from an investment partner.
- 6 months of Mentorship: The accelerator has a network of local and international business people, industry experts and professionals that work with entrepreneurs for 6 months. The mentors act as a sounding board for growth plans and help entrepreneurs navigate various business challenges.
- 6 months of Technical assistance: The accelerator programme runs a series of audit and analysis workshops that help entrepreneurs understand their business structure, their operating environment and how to manage their growth. The workshops also feature talks from industry experts and business professionals.
Eligibility Criteria
Growth Accelerator Malawi is not sector specific. The accelerator is looking for in-novative and impactful enterprises with a viable business model. Detailed below are the eligibility criteria for the upcoming cohort:
- Be registered as a for-profit enterprise in Malawi with a valid business license available for verification
- Have a product or service on the market for not less than one year
- Be operational for not less than two years from a designated premise
- Demonstrate sound financial practices such as basic bookkeeping
- Demonstrate that the business has been generating monthly revenues for at least the past one year
- Has the founder’s or at least one of the founders’ fulltime involvement in the business
- Be a youthful entrepreneur aged up to maximum of 45 years old as per footnote
- Eligible participants cannot have gone through a previous round of the Growth Accelerator.
For more information, visit https://growmalawi.com/call-for-applications/