Nine African Startups Join Norskin Accelerator
Nine African startups representing 8 countries have been selected to participate in the second edition of Norrsken Impact Accelerator, a prominent early stage accelerator. The accelerator is a program of the Norskin Foundation. The foundation was founded in 2016 by Niklas Adalberth, co-founder of Swedish fintech unicorn Klarna, to support global entrepreneurs in solving some of the world’s biggest challenges.
Norrsken Foundation has been courting Africa since it announced in 2019 the launch of its entrepreneurship hub, Norrsken House, in Kigali, Rwanda. The first outside of its headquarters, Sweden, the center also features an Africa-focused seed fund which has allowed it to invest in Rwandan companies, most notably Viebeg Technology and PesaChoice.
Last December, it opened the center and welcomed 250 entrepreneurs and hopes to bring in another 750. In the same year, it selected 11 startups from Africa to join the inaugural edition of Norrsken Impact Accelerator.
Among the 20 startups around the world selected for the accelerator, 9 African companies are Nigerian digital primary health startup Clafiya and clean tech startup SunFi; Mozambican Mobility Platform Appload; Ugandan lending platform Emata; Tanzanian payment solution Umoja Labs; Rwandan Craftsmen Employment Service Fixa; Ghana’s Motito platform BNPL; South African HealthDart Network; Kenyan savings and investment service Power Financial Wellness. All 20 companies address issues of mental health, poverty, sustainable agriculture, financial inclusion, or green energy.
The startups will undergo an 8-week growth pace at Norrsken House in Stockholm; Receive mentorship from a list of over 110 entrepreneurs, investors, and unicorn founders; And get $125,000 in initial investment or seed investment from Norrsken.
“Our accelerator program features more than one hundred extraordinary individuals who channel their knowledge, experience, and networks to pave the way for early and next-stage technology impact startups,” said Fonda Sezge, managing director of Norrsken Impact Accelerator and co-founder. . “We only want to work with companies that solve real, urgent, important problems – significant problems. We believe all of the companies in our 2022 group are doing just that, and we are very excited to be part of the growth journeys from here!”
Since the accelerator’s inception, the participating startups collectively have continued to raise $24 million in seed and seed money from investors such as Brilliant Minds co-founder Ash Burnery, Kry co-founder Fredrik Jong-Abo, Nordic Capital’s Bar Norberg, Capital T Foundation, Globivest and Norrsken. .
Earlier this year, we wrote about Norrsken Foundation’s Norrsken22 Africa Tech Growth Fund, a $200 million fund backed and managed by 30 unicorn founders to help African entrepreneurs build the next generation of tech giants.