Endeavor Kenya, a non-profit organization supporting high-impact entrepreneurs, has unveiled its inaugural initiative for high-growth founders, the ScaleUp program. The cohort-based program will identify 10 high-growth ventures based in East Africa and support them with networking and resources. The organization says that this will help the founders to gain clarity on their journey to scale.
The program will run for a period of 28 months. During this period, the selected entrepreneurs will have access to the Endeavor ScaleUp methodology, which leverages expert mentors, immersive business development training, fundraising support, and a strong peer-to-peer network of high-impact entrepreneurs who have built and run successful businesses.
Ms. Maryanne Ochola, Endeavor Kenya’s Managing Director, pointed to the importance of scaling high-growth companies for our ecosystem. She added,
“This program is an excellent opportunity for ambitious local founders to tap into our global expertise and curated services to turbo-charge their path to scale.”
“Through the Endeavor Kenya network, we will expand the mechanisms for experienced founders to pay it forward to the next generation of entrepreneurs. We will offer personalized support to the qualifying businesses seeking to create the multiplier effect, where a successful founder’s impact goes beyond their success to their impact on the start-up ecosystem. ,” said Ms. Ochola.
In addition, the businesses are expected to experience significant growth during the program’s term, ranging from seed to pre-series A or series A to series B.
“It is our vision that the ten start-ups selected in the ScaleUp program can accelerate their business growth to become the next Endeavor Entrepreneurs,” said Ms. Ochola.
Notably, a small number of high-growth firms drive productivity in entrepreneurship communities. According to the report by Endeavor Insight, the top 10% of entrepreneurship software firms in Nairobi created over 70% of the jobs in the local software sector.
Eligibility criteria and how to apply
The 2024 ScaleUp Program is now open for applications. To qualify for this first cohort, early-stage businesses must meet the below criteria:
- Must be based in East Africa
- Must have a tech or tech-enabled business model
- Must have a viable product
- Have a minimum of $500,000 in annual recurring revenue
- Demonstrate year-on-year growth of at least 50%
- Working in creating jobs or providing responsible financial services at scale
Startup founders interested in the Endeavor Kenya ScaleUp Program can apply here.