Application for OceanHub Africa Acceleration Program 2022 is ongoing!
OceanHub Africa is launching the second cohort of its six-month online acceleration program to support up to six of Africa’s most promising impact-for-profit startups focused on preserving and restoring the health of the ocean.
The accelerator is on a mission to support ocean-minded start-ups with the express aim of nurturing an environmentally conscious and profitable economy that effectively mitigates the effects of global warming as well as the overexploitation and pollution of the oceans.
Leveraging its highly qualified network of stakeholders and facilitators, it will deliver to the accelerated start-ups a program that seeks out sustainable pathways yielding stable profits (ROIs) and avenues for scalable growth throughout Africa.
What you can expect
Becoming part of OceanHub Africa portfolio will allow you to:
- Unlock a network of leading ocean experts, mentors (entrepreneurs, investors, innovation experts, impact experts, scientists, lawyers, etc.), impact investors, and potential clients.
- Get support to fast-track your growth by acquiring new customers or running your first Proof of Concept, and scaling your business through commercial contracts and fundraises.
- Engage with like-minded entrepreneurs within the Blue Economy space in Africa and abroad.
OceanHub Africa Acceleration Program offers
Service Package
- Up to $75k worth of cloud services thanks to our partner AWS Activate
- Free access to IoT prototyping thanks to our partner Macrocomm
- Over $40k worth of mechanical engineering design software licenses and support for prototyping and virtual testing, thanks to our partner 3DExperience Lab
- Access to Dassault Systèmes, Amazon Web Services, and international marketplaces, and/or salesforce for finished products of accelerated startups
- Advisory sessions with Cullinan & Associates (international environmental law firm), Cape AI on machine learning and AI implementation, Macrocomm on data management and implementation of IoT, SWEN Blue Oceans Partners (ocean impact Venture Capitalist fund), Ocean14 Capital (ocean impact Private Equity fund), WWF – South Africa, Dept of Oceanography University of Cape Town, EuroSIMA (oceantech experts) and more!
Mentorship & Support
- Participation in an in-person training bootcamp in Cape Town
- Tailored business skills and personal development 1-to-1 coaching
- Sales, Product Development, Communication, and Business Development Support
- Access to our network of scientific, business, impact and investment experts from international corporations, foundations, universities and IGOs
Network
- Access to networking events and conferences, including a stand and stage time at the Ocean Innovation Africa annual summit
- Access to potential clients (market leads) for local and international expansion
- Access to our international network of ocean-impact incubators/accelerators to scale overseas
- Access to key external partners
Fund-Raising Support
- Potential funding of up to 10k USD from OceanHub Africa
- Support in preparing and running investor pitches, including training sessions with partner investors directly
- Support in structuring deals, including reviews by transactional and commercial lawyers
- Access to a large portfolio of impact investors part of our ecosystems (inc. SWEN Blue Oceans, Ocean14 Capital, Finca Ventures, Conservation International Ventures, Builders Vision, AquaSpark, Athelia …) as well as corporate venture capitalist funds
OceanHub Africa Acceleration- Eligibility
- Your start-up is ocean-minded: it has a direct or indirect positive impact on the oceans (addressing climate change, pollution or overexploitation of the ocean) and promotes ocean equity
- You are for-profit and operate in Africa
- You have a scalable service or product available on the market or soon to be available on the market
- Your product or service is clearly innovative and/or your business model is disruptive
- You are looking for investments or new markets
Our selection criteria
Impact & vision
- Positive impact on the oceans
- Aligned vision with OceanHub Africa
Business model
- Market & traction
- Commercial value
- Strategy for growth & scalability
Team
- Expertise and background
- Ambition and passion
Technology
- Innovation
- Reliability
- Adaptability
- Scalability
Application Timeline 2022
- 4 April – 22 May: Application period
- 23-27 May: Screening of the applications
- 27 May: Announcement of short-listed start-ups
- 31 May – 7 June: Pitch training
- 15 June: Pitching session in front of the final selection committee
- 20 June: Final selection and announcement to Selection Committee.
- 13 July: Public Announcement of start-ups selected
- 18 – 22 July: Program starts with the first one-on-ones
- 7-13 August: In-person Bootcamp in Cape Town
- February: Graduation and Demo Day at Ocean Innovation Africa Summit (date to be confirmed).
Terms
What we expect from the entrepreneur(s):
- Availability (at least 1.5 full-time equivalents dedicated to the project entrepreneurship venture applying to join OHA)
- Transparent communication and cooperation
- 2 key C-level team members are minimum involved in the acceleration program
- Commitment to cover the traveling cost of 1 representative for the in-person Bootcamp in Cape Town (air transport and visa.)
- Ad hoc reporting to OceanHub Africa and to other stakeholders
- Success fees of up to 5% on the next fundraising (over the duration of the program + 2 years) and success fees of up to 10% on a commercial contract where OHA has been an effective cause of obtaining the contract
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