Early-stage Ghanaian startups can now apply to the MEST Express accelerator program to help them grow their businesses.
Over 50 early-stage ventures have been expedited since the program’s beginning in September 2020, and 12 startups in Ghana have received over US$100,000 in equity-free capital as a result.
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Following the success of its initial partner cohort in Tamale with HOPin Academy, the program just launched its very first cohort in Kumasi in collaboration with hapaSpace.
The 20-week accelerator program provides free training, coaching, resources, and support to participating firms in an effort to arm early-stage businesses with the tools and resources they need to accelerate their growth.
Along with Pre-MEST and MEST Scale, MEST Express is one of three programs that MEST runs in collaboration with the Mastercard Foundation.
Each participating startup will get a $5,000 upfront award, free of equity. The top-performing enterprises will win up to US$20,000 in equity-free grant money at a pitching session at the program’s conclusion for firms in each cohort.
“Our second cohort for the MEST Express accelerator is focused on sustainable companies since, in order to address fundamental issues in Africa, it is frequently necessary to consider how to develop long-lasting solutions that have a good effect on our communities. African businesspeople have a rare opportunity since sustainability addresses pressing issues in a way that is both widely known and appreciated. According to Femi Adewumi, director of programs at MEST Africa, the underlying nature of the challenges addressed ensures that the markets are sizable and offers an opportunity to combine impact with profitability.
Applications are still being accepted until July 10 for the next cohort, which will be based in Accra.