Unlocking the potential of African start-ups in the energy and transport sector Lessons from an investment readiness programme
Support and mentorship can be crucial in the early stages of setting up a company. In fact, founders who received quality mentorship were three times more likely to become top-performers. With that in mind, Seedstars and the Shell Foundation have developed tailored training and in-depth mentor matchmaking to provide early-stage startups with personalized and dedicated support in the form of an Investment Readiness Program.
The program, co-funded by UK aid from the UK government, focused on twenty entrepreneurs from sub-Saharan Africa working in the access-to-energy (A2E) and sustainable mobility (SM) sectors. A thorough analysis was conducted to target the specific challenges these entrepreneurs were facing and adapt the program to their needs. By enhancing various IRP methodologies and experimenting with new ways of creating greater impact for all stakeholders, the program helped all start-ups in becoming more investment ready and successfully linked them to potential future investments.
This report presents the practical details of the program and can be used as a blueprint for other entrepreneur support organizations designing similar activities in the region.