Do you have a digital commerce startup in Ghana? And you think your startup can scale up the operations of micro and small enterprises in Ghana? Then, the Catalyst Fund Inclusive Digital Commerce Accelerator might be just for you.
What is the Catalyst Fund Inclusive Digital Commerce Accelerator?
The Catalyst Fund Inclusive Digital Commerce Accelerator is a program that supports digital commerce companies that are building solutions designed to improve the livelihoods and financial resilience of micro and small enterprises (MSEs).
Speaking about MSEs in Ghana, existing digital commerce solutions tend to exclude informal micro and small enterprises (MSEs), who have been hardest hit by the impact of the COVID-19 economic crisis. Thus, they are unable to leverage digital commerce opportunities to fuel their growth and secure their incomes.
The Catalyst Fund Inclusive Digital Commerce Accelerator scales innovative companies that can enable informal MSEs in Ghana to reap the benefits of digital commerce solutions, to spur the development of the broader ecosystem.
The program is managed by BFA Global, supported by MasterCard Foundation, and executed in partnership with MEST in Ghana.
What is the program looking for?
Boost and Kudigo are beneficiaries of the program. The latest edition is looking to work with at least four startups that meet the criteria they are looking for. Speaking of criteria, only companies that meet the following criteria will be evaluated for selection. This include:
- Inclusivity: Preference for companies with a current or proven desire to serve informal MSEs.
- Proven traction: Company has already raised a minimum of $100K from investors or is revenue positive and serving at least 500 customers.
- Stage-fit: Company has a product in the market and is in the scaling stage
- Minimum runway: Company has 6-12 months of runway
- Geography: Company is Ghana-based (or entering the Ghanaian market)
- Product type: Company is offering solutions across the digital commerce value chain.
- Youth focus: Company primarily serves informal MSEs and workers between the ages of 18-35.
- Scale potential: Company can contribute to the goal of reaching 25,000 additional MSEs within two years.
Companies selected for the Inclusive Digital Commerce Accelerator are identified via quantitative and qualitative sourcing research to determine existing ecosystem gaps and challenges faced by MSEs. Companies are then vetted by an Investment Advisory Committee composed of experienced emerging markets investors and experts in the digital commerce space in the Ghanaian and broader African market.
The deadline for the next cohort is June 22, 2021.
Link for the application: https://bfaglobal.com/catalyst-fund/inclusive-digital-commerce/#express-interest
