{"id":22940,"date":"2024-07-26T13:49:12","date_gmt":"2024-07-26T13:49:12","guid":{"rendered":"https:\/\/presspay.ng\/news\/?p=22940"},"modified":"2024-07-26T13:49:26","modified_gmt":"2024-07-26T13:49:26","slug":"get-accelerated-program-launches-third-cohort-to-boost-african-startups-with-n10-million-prize","status":"publish","type":"post","link":"https:\/\/presspay.ng\/news\/get-accelerated-program-launches-third-cohort-to-boost-african-startups-with-n10-million-prize\/","title":{"rendered":"GET Accelerated Program Launches Third Cohort to Boost African Startups With N10 Million Prize"},"content":{"rendered":"\n<p>The GET Accelerated Program, in partnership with Kick-off Africa, has launched its third cohort, targeting startups across Nigeria to become scalable businesses capable of withstanding market shifts and policy changes.<\/p>\n\n\n\n<p><strong>Initiative Overview<\/strong><\/p>\n\n\n\n<p>Led by the Grooming Endowment Trust (GET), a nonprofit organization established in August 2020, the initiative provides grants, mentorship, resources, and networking opportunities to aid startups in developing Minimum Viable Products (MVPs). Building on the success of its two previous cohorts, where 20 startups received over N150 million in funding and resources, the program focuses on a market-driven approach and supports startups in sectors like healthtech and edtech.<\/p>\n\n\n\n<p><strong>Program Expansion<\/strong><\/p>\n\n\n\n<p>Michael Adoghe, Operations Manager at GET, highlighted the program\u2019s growth. \u201cIn previous years, we focused on early-stage founders and idea-stage analysts. This year, we\u2019re incorporating a hybrid approach, providing dedicated coaches and broader opportunities for startups.\u201d He emphasized the program\u2019s mission to promote sustainability in areas such as education, health, and private company development by bringing ideas to life through grants and investments in social enterprises.<\/p>\n\n\n\n<p><strong>Application Process<\/strong><\/p>\n\n\n\n<p>The application process for the GET Accelerated Program will run until August 11. It includes a selection and interview stage to identify the top 10 startups, which will join an in-house three-day bootcamp followed by a twelve-week virtual accelerator. This concludes with a Demo Day and an award ceremony where startups will showcase their achievements to potential investors and partners.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Eligibility Criteria<\/strong>:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Be registered in Nigeria.<\/li>\n\n\n\n<li>Demonstrate operational capabilities within six months to a year.<\/li>\n\n\n\n<li>Have a clear business model.<\/li>\n\n\n\n<li>Understand their customer base and revenue generation strategy.<\/li>\n<\/ul>\n\n\n\n<p><strong>Impact and Testimonials<\/strong><\/p>\n\n\n\n<p>GET has supported startups from all six geopolitical zones of Nigeria. Uche Ukonu, founder of Smallchops.ng, shared his experience: \u201cGET Accelerator was the first program to truly see the economic potential of what we were doing. Our operations have expanded significantly, and the mentorship helped us refine our processes.\u201d Olapeju Umah, founder of MyFoodAngels, added, \u201cGET Accelerator helped us bridge the gap between farmers and consumers. We\u2019ve gone from being a shopping service to a supply chain solutions provider. The program\u2019s impact on our business has been a huge one.\u201d<\/p>\n\n\n\n<p>Other notable alumni include ALARRT, Agrodemy, and Regxta, each making significant impacts in their respective sectors. Adoghe reiterated the program\u2019s emphasis on grooming and believing in startups, stating, \u201cWe take chances on founders and provide them with the support they need to succeed. It\u2019s about seeing the potential in ideas that others might overlook.\u201d<\/p>\n\n\n\n<p><strong>Program Structure<\/strong><\/p>\n\n\n\n<p>The program condenses its curriculum into an intensive three to six-month format, ensuring real-world application. This market-driven approach focuses on consumer demand, rather than assuming a product\u2019s necessity. Divided into phases focusing on different stages of startup growth, the program aims to create a replicable model for success, helping startups transition from early-stage to possessing fully developed MVPs.<\/p>\n\n\n\n<p><strong>Support and Sustainability<\/strong><\/p>\n\n\n\n<p>The GET Accelerated Program invests in founders rather than just their ideas, acknowledging that failures are part of the startup journey. It provides continuous support through quarterly check-ins and additional funding opportunities, fostering a collaborative community where startups share knowledge and resources. Emphasizing sustainable business models and peer-to-peer support, the program equips entrepreneurs with the skills and resilience needed to pivot and adapt.<\/p>\n\n\n\n<p><strong>How to Apply<\/strong><\/p>\n\n\n\n<p>To become part of the GET Accelerated Program\u2019s third cohort, interested startups can&nbsp;<a href=\"https:\/\/msmeafricaonline.com\/call-for-applications-grooming-endowment-trust-get-accelerated-program-cohort-3\/\">apply via this link<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The GET Accelerated Program, in partnership with Kick-off Africa, has launched its third cohort, targeting startups across Nigeria to become<\/p>\n","protected":false},"author":1,"featured_media":13341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[43,1],"tags":[],"class_list":["post-22940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entrepreneurship","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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