Startups in East Africa are invited to apply for the second edition of the Traction Camp acceleration program by iHub and InfoDev Program, an initiative of the World Bank Group.
Traction Camp acceleration program is looking to support digital and mobile entrepreneurs in East Africa to create globally competitive tech businesses.
15 high growth startups from East Africa will benefit from knowledge, capital and access to markets. Entrepreneurs from Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia, and now Somalia and South Sudan are eligible to apply.
The program will involve a 6-month tailor-made acceleration program, for each of the successful applicants, to achieve the following:
- refinement of business model towards scaling and expanding
- facilitation of human capital development among the core startup team members
- improve investor readiness
- designing of effective monetization and customer acquisition strategies
The selection criteria of Traction Camp acceleration program 2018 is to be based on the following metrics:
- User/Customer Problem – What customer pain are you solving? Is it a problem worth solving?
- Solution to your Customer’s Problem – How are you solving the customer’s stated problem? What are the top features of your solution that specifically address the customer problem?
- Customer Profile – What customer segments are you prioritizing? Can you provide a generalized description of your ideal customer?
- Customer Acquisition Channels – What is your customer journey? What channels are you using to reach the customer segments?
- Revenue streams – How will you make money with your product/solution given the current nature of the marketplace?
- Management and Team Composition – What is the composition of your team: complementarity of soft and hard skills, suitability of team structure to deliver on business goals, sense of commitment to the startup?
- Competitors and competitive advantage – What are the existing alternatives to your solution? How does your solution fare against competition? What differentiates you from the competition?
- Market Traction – What has the business achieved so far: number of paying customers, gross monthly revenue, number of active/repeat users, Intellectual Property Assets or key partnerships, etc.
- Projections for Milestones – How’s your roadmap or projections for growth within the next 24 months in terms of revenue, partnerships, expansion, number of users, potential to achieve scale, etc.
The program has began conducting outreach workshops to inform on requirements to take part, inform on curriculum and other key activities. All important questions are to be addressed at these workshops.
Deadline for application is 15th January, 2018. Visit the Official Webpage and apply.0