Global startup incubator ‘Antler’ Launches in Kenya

Global accelerator Antler launches in Nairobi, to invest in 16 startups every year ($100k in each)

In the past few years, there has been a growing list of global accelerators who also double as micro-VCs interested in either setting up across the African continent or admitting African startups.

From Silicon Valley darlings like Y Combinator – which has backed over 30 African startups – and 500 Startups to TechStars.

Global startup incubator ‘Antler’ Launches in Kenya

Global accelerator, Antler has launched its operations in Nairobi as it seeks to accommodate at least 40 “future founders” who will come up with startups that Antler will invest in.

According to Digest Africa data, there are at least 80 accelerators targeted to the African continent and offer a cash investment in the range of US $5,000 to the US $350,000 per startup in the cohort following an average 6-month acceleration program.

The investment instruments being used are mostly straight equity and non-equity assistance even if a model incorporating Simplified Agreement for Future Equity (SAFE) is beginning to be adopted.

The firm says it will use a matchmaking model where it admits individuals who are encouraged to identify co-founders with whom to work on a startup idea.

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“We are looking to invest in a minimum of 16 startups every year in Nairobi, but this could be even higher depending on the quality of the ideas coming out of the programme. ….Through our co-founder pairing framework, we dramatically increase the chances of finding a suitable co-founder with complementary skills,” – Antler was quoted by Digest Africa.

Antler has said that it plans to expand to South Africa, Nigeria, and other African countries in the next five years.

Its model includes acquiring a 20% equity stake in exchange of investment of US $100,000 of which US $85,000 comes in the form of cash and the remainder comes as a “5-month program and comprehensive support.”

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