Village Capital has announced the 23 early-stage startups selected to take part in Future of Work Africa 2021, an accelerator for startups that are working to help young people find jobs, build careers, and prepare for the future of work.
Since 2009, Village Capital has supported more than 1,000 early-stage entrepreneurs through its investment readiness programme, while the VilCap Investments fund has invested in more than 110 programme graduates.
Its latest programme, launched in partnership with IFC, a member of the World Bank Group, and Moody’s Foundation, and reported by Disrupt Africa in December, is Future of Work Africa, an accelerator for startups that are working to address high levels of unemployment across the continent.
A total of 23 companies have been selected to participate in the programme as part of two cohorts in May through August 2021. The top two peer-selected companies in each cohort will receive US$20,000 in capital to help scale their businesses.
Each startup selected for the accelerator will have the opportunity to work closely with industry experts, investors, and ecosystem partners to develop the networks they need to scale their impact. All startups in the programme will also be invited to join Abaca, Village Capital’s global online network that helps entrepreneurs analyse and structure their businesses for investment. The network also matches them with the right investors and resources.
“Africa’s workforce is projected to be the largest in the world in the coming decades, with hundreds of millions of people below the age of 25 starting to seek employment,” said Adedana Ashebir, Village Capital’s regional director for Africa and the Middle East. “But there is simply not enough quality and quantity of jobs for this young and growing population. Village Capital is excited to support these 23 startups helping young people in Sub-Saharan Africa better prepare for and manage the future of work.”