500 Global and UNDP Launch New Innovation Programs to Boost Africa's Ecosystem
The launch is the latest in a series of firm actions to reinforce support for
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NAIROBI, Kenya — 500 Global, one of the world's most active venture capital firms 1, today announced the launch of their first founder programs in Nairobi, in collaboration with the United Nations Development Programme (UNDP), to support the pan-African ecosystem 2.
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Together, 500 Global and UNDP hope to provide African founders the insights and expertise to navigate the evolving global landscape and capitalize on opportunities to scale, by providing support, mentorship, as well as their global network of resources.
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Nairobi will serve as host for three programs run by 500 Global in partnership with UNDP this year. The programs are co-designed to support startups at every stage—from early to growth—by offering tailored acceleration programs appropriate to each startup's level of maturity. The first program, the Pre-Acceleration Academy, will support founders at the earliest stage of their journey through an in-person program running October 6 – 12th. The second program, the Sustainable Innovation Seed Accelerator, will provide support for seed-stage founders who are developing sustainable innovation solutions.
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The third program, 500 Global's Bootcamp for Accelerator Managers, is designed to upskill accelerator managers and incubators within UNDP's timbuktoo initiative, who are committed to advancing innovation across Africa. The three programs aim to support continued ecosystem development while broadening opportunities to invest in African founders across the continent.
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500 Global's Africa leadership aims to work with founders, investors, and institutions like UNDP, to become a more active participant within the African innovation ecosystem.
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' With the launch of these programs, we are excited for 500 Global to deepen our work with African entrepreneurs and to help them adapt to this new global landscape. We are looking forward to working closely with partners like UNDP across the continent to provide the infrastructure for sustained innovation and growth. ' – Mareme Dieng, Partner, 500 Global
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Together, 500 Global and UNDP hope to provide African founders the insights and expertise to navigate the evolving global landscape and capitalize on opportunities to scale, by providing support, mentorship, as well as their global network of resources.
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' At UNDP, we believe that Africa's future lies in the ingenuity of its people. Through this partnership with 500 Global, we are not just investing in startups, we are investing in innovators driving Africa's sustainable transformation. By equipping entrepreneurs with the tools, networks, and mentorship they need, we are building a resilient ecosystem that will power inclusive growth and deliver on the promise of the Sustainable Development Goals', said Ahunna Eziakonwa, Assistant UN Secretary General and Director of UNDP Regional Bureau for Africa. Applications are open for all three programs. Founders can learn more and apply through the Pre-Acceleration Academy and Sustainable Innovation Accelerator Program pages.
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that invests in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth and development. We work closely with key stakeholders and advise governments on how best to support entrepreneurial ecosystems and economic development in emerging markets. 500 Global has backed over 5,000 founders representing more than 3,000 companies operating in 80+ countries. We have invested in more than 35+ companies valued at over $1 billion and 150+ companies valued at over $100 million (including private, public, and exited companies). Our 175+ team members are located in more than 25 countries and bring experience as entrepreneurs, investors, and operators from some of the world's leading technology companies.
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500 Global made its first investment in Africa in 2011. Since then, 500 has invested in and supported 100+ portfolio companies headquartered in Africa, notably backing Chipper Cash, Smile Identity, Stitch, Money Fellows and Asaak. Beyond direct investment, 500 Global has been a partner in ecosystem development, working closely alongside governmental entities, like the Information Technology Industry Development Agency (ITIDA) and Gesellschaft fur Internationale Zusammenarbeit (GIZ), to develop education for accelerator managers, in addition to providing infrastructure and resources for an additional 150+ Egyptian founders since 2022.
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About UNDP
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UNDP is the leading United Nations agency fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet.
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timbuktoo is a pan-African initiative, led by UNDP, with a focus on unlocking Africa's innovation potential by supporting entrepreneurship and inclusive economic growth. It helps high-potential startups in key sectors through tailored funding, expert mentorship, and access to global markets. Learn more at http://www.undp.org/africa or follow @UNDP and @UNDPAfrica on social media.
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THE CONTENT IN THIS PRESS RELEASE IS PROVIDED FOR GENERAL INFORMATIONAL OR EDUCATIONAL PURPOSES ONLY. 500 GLOBAL MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR INFORMATION CONTAINED HEREIN AND WHILE 500 GLOBAL HAS TAKEN REASONABLE STEPS TO ENSURE THAT THE INFORMATION CONTAINED HEREIN IS ACCURATE AND UP-TO-DATE, NO LIABILITY CAN BE ACCEPTED FOR ANY ERROR OR OMISSIONS. UNLESS OTHERWISE STATED IN THIS PRESS RELEASE, ANY PREDICTIONS, FORECASTS, CONCLUSIONS, VIEWS OR OPINIONS EXPRESSED REPRESENT THE CURRENT VIEW AND THINKING OF 500 GLOBAL WITH REGARD TO THE SUBJECT MATTER THEREIN BASED ON INTERNAL DATA AGGREGATED ACROSS ALL 500 GLOBAL FUNDS AS OF OCTOBER 23, 2024 AND/OR ANALYSIS WHICH HAS NOT BEEN INDEPENDENTLY VERIFIED, AND WHICH IS SUBJECT TO CHANGE AT ANY TIME.
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UNDER NO CIRCUMSTANCES SHOULD ANY OF THE CONTENT IN THIS PRESS RELEASE BE CONSTRUED AS LEGAL, TAX OR INVESTMENT ADVICE FROM 500 GLOBAL OR ANY OF ITS AFFILIATES. 500 GLOBAL DOES NOT GUARANTEE ANY FUTURE RESULTS FOR ANY DECISIONS MADE BASED IN WHOLE OR IN PART ON THE CONTENT OR INFORMATION CONTAINED HEREIN. ALL READERS OF THIS PRESS RELEASE SHOULD CONSULT WITH THEIR OWN COUNSEL, ACCOUNTANT OR OTHER PROFESSIONAL ADVISORS BEFORE TAKING ANY ACTION IN CONNECTION WITH THIS PRESS RELEASE.
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UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION OR CONTENT IN THIS PRESS RELEASE, BE CONSIDERED AS AN OFFER TO SELL OR SOLICITATION OF INTEREST TO PURCHASE ANY SECURITIES ADVISED BY 500 GLOBAL OR ANY OF ITS AFFILIATES OR REPRESENTATIVES. FURTHER, NO CONTENT OR INFORMATION CONTAINED IN THIS PRESS RELEASEIS OR IS INTENDED AS AN OFFER TO PROVIDE ANY INVESTMENT ADVISORY SERVICE OR FINANCIAL ADVICE BY 500 GLOBAL. UNDER NO CIRCUMSTANCES SHOULD ANYTHING HEREIN BE CONSTRUED AS FUND MARKETING MATERIALS BY PROSPECTIVE INVESTORS CONSIDERING AN INVESTMENT INTO ANY 500 GLOBAL INVESTMENT FUND. UNDER NO CIRCUMSTANCES SHOULD ANY CONTENT BE INTERPRETED AS TESTIMONIALS OR ENDORSEMENT OF THE INVESTMENT PERFORMANCE OF ANY 500 GLOBAL FUND BY A PROSPECTIVE INVESTOR CONSIDERING AN INVESTMENT INTO ANY 500 GLOBAL INVESTMENT FUND.
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