Apply for the 2023 Mentor-Driven Capital Africa Program for Women in Leadership
Applications are now being accepted for the 2023 Mentor-Driven Capital Africa Program for Women in Leadership, which is looking for mentors for the continent’s up-and-coming entrepreneurs.
One of VC4A’s strategies for enhancing startup ecosystems worldwide is “mentor-driven capital.” The program’s objective is to equip aspiring and experienced business mentors with the resources they need to better assist prospective startup owners in taking their businesses to the next level.
Powered by the Work in Progress! Alliance, funded by the Dutch Ministry of Foreign Affairs, with Oxfam being the lead program implementer, VC4A does not charge mentors who wish to join the program. Other key 2023 partners include ICEAlex, She Leads Africa, Innovate Ventures, Rising Tide Africa, ShEquity, Tiye Angels,?Dazzle Angels, Impact Hub Abidjan, Betacube and Nairobi Business Angels among others.
Women-led companies provide a higher return on investment (up to twice as much according to BCG1) than their male counterparts. In addition, women-led businesses have a greater societal impact as women tend to spend a higher percentage of their earnings on purchases beneficial to their families, friends and social circles and at the same time, the number of women-led startups that carry on to successfully attract scale-up funding is extremely low. Research by Africa: The Big Deal shows that in 2022 only 1,8% of funding attracted by African startups went to businesses with female founders (up from 0,9% in 2021).
The underrepresentation of women in leadership positions within investment funds, angel networks, entrepreneur support organizations (ESOs), and mentor networks is one possible explanation. Only 9% of the 400 active African angel investors in their database, according to a new survey by ABAN and Briter Bridges called the African Angel Investment Survey 2022, are female.
While there is a lot of focus on improving the participation of women in centralized organizations like venture capital funds and ESOs, less attention is paid to more decentralized networks like angel and mentor networks. By assisting and strengthening women in the African startup ecosystem, organizations like the African Women Leadership Fund, Women in African Investments, African Women Impact Fund, and 2X Collaborative are working to change this.
MDC Africa 2023 is seeking women who meet the following requirements:
- Established business professionals, successful entrepreneurs, or (angel) investors
- Interest in playing a bigger role in the African startup ecosystem
- Desire to make a tangible difference in the lives of starting entrepreneurs
- Based in Africa or closely affiliated with the continent
- Available to spend 4-5 hours per month for approximately 2 months (late February to April 2023) participating in online training, expert sessions, and group discussions.
The benefits and opportunities for you as a participant in MDC Africa 2023 include :Attending hands-on training and expert sessions.
- Group mentor reflections – learn from your peers
- Access best-in-class mentorship guide and online training materials
- Build your own skills and capacity as a startup mentor
- Join a pool of global mentors and experts and showcase yourself
- Find ventures suitable for your skills and expertise through the VC4AMentorship Marketplace.
Interested applicants can find more info and apply directly here: Mentor-Driven Capital Africa program 2023. The deadline for the call for applications is January 31st, 2023.
