Source: African Entrepreneur Collective
African Entrepreneur Collective (AEC) is a collection of 5 business accelerators that support local entrepreneurs to drive job growth. AEC accelerators partner with young entrepreneurs to build their skills, expand their networks, and grow their businesses so that they may employ others. Since launching in Rwanda in 2012, they have helped create more than 700 jobs, providing gainful employment to local people while contributing to the country’s economic and social development.
Rather than stimulating new business development, AEC’s programs provide on-going support to existing entrepreneurs to enter new markets, strengthen their operations, and ultimately grow their businesses. AEC’s approach is to focus on existing entrepreneurs, develop entrepreneurs’ capacity and remove barriers to growth. The 5 business accelerators include:
Inkomoko
Inkomoko identifies young Rwandan entrepreneurs with existing enterprises who seek to grow their businesses, but lack the skills and financial resources to do so. Inkomoko offers a suite of services to accelerate small business growth and fill a demonstrated need. Entrepreneurs receive a one-year business development package including mentoring, business planning and strategic consulting, training and education and also access to capital.
Anza 360°
Anza is AEC’s year-long accelerator program for social entrepreneurs in Tanzania. In partnership with Moshi-based program Anza, AEC offers a comprehensive suite of services to help social businesses scale up, have greater impact, and impact the lives of low-income Tanzanians. Launched in January 2016, Anza 360° is AEC’s first expansion to reach 10 countries in 10 years.
AEC Rwanda Trustee
AEC Rwanda Trustee provides direct financing at a lower rate than local banks. To de-risk their investments, all AEC Rwanda Trustee clients are all part of AEC’s accelerator, which assists entrepreneurs with their business challenges. Once these challenges are addressed and clients meet the appropriate loan requirements, AEC Rwanda Trustee can choose to provide financing to remove barriers to growth.
African Innovation Prize (AIP)
AIP inspires student innovation and entrepreneurship in Rwanda and Burundi, unleashing entrepreneurial potential in students by providing them with the knowledge and seed funding to establish successful enterprises. AIP runs a three-phase program, encouraging students to DREAM, DESIGN, and DEDICATE themselves to their business ideas. The program consists of training, mentoring, and a two-part business plan competition that helps students turn their initial idea into reality.
Spring
Spring is an innovative East African accelerator program that supports businesses whose products and services transform the lives of adolescent girls. Spring is a 5-year program that provides finance, expert mentors, and technical assistance to selected businesses. It is funded by UK’s Department of International Development (DFID), the Nike Foundation, and the U.S. Agency for International Development (USAID).
