In a bid to bolster the African tech ecosystem and nurture the next generation of entrepreneurs in the sports and creative industries, NBA Africa has unveiled a groundbreaking initiative – the “Triple-Double: NBA Africa Startup Accelerator.” Operated by ALX Ventures, a leading technology incubator, this accelerator program offers capital, mentorship, and invaluable connections to early-stage startups across Africa, with a focus on accelerating their growth and driving economic development across the continent.
At the core of the Triple-Double initiative lies a commitment to supporting African startups developing innovative solutions in key areas such as event management and ticketing, youth development, AI, and digital marketing. By providing access to funding, mentorship, and global networks, NBA Africa aims to empower these startups to scale their operations, create impactful solutions, and contribute to the growth of African economies.
The application process for the Triple-Double accelerator is open until May 31, welcoming submissions from startups headquartered in Africa that align with one of the designated Sports and Creative startup categories. Key criteria include demonstrating proven demand for the product or service, showcasing impact and relevancy to the broader African continent, and presenting a compelling business case for growth and scalability.
Clare Akamanzi, CEO of NBA Africa, expressed her enthusiasm for the initiative, highlighting its potential to shape the future of sport on the continent. “This groundbreaking new initiative reflects our commitment to expanding the African sports ecosystem, and these incredible companies will be at the forefront of shaping the future of sport on the continent,” stated Akamanzi at the April 25 announcement.
Selected startups will have the opportunity to receive prizes of up to $50,000 along with value-in-kind, access to business leaders, corporations, and multinational mentors, and the chance to pitch to global industry leaders in the autumn. The top 10 startups will be paired with mentors from NBA Africa, ALX Ventures, and other corporate stakeholders, who will provide guidance on product development, business growth, and go-to-market strategy.
In September, NBA Africa will host a Demo Day in New York City coinciding with the United Nations General Assembly, where participating startups will pitch their products to a panel of industry leaders from the US, Africa, and around the world. Four winning companies will be selected to receive financial support, mentorship, and the opportunity to collaborate with NBA Africa and the Basketball Africa League (BAL) on current and future initiatives across the continent.
NBA Africa, an affiliate of the NBA with a mission to inspire and connect people through basketball, has been actively engaged in expanding access to the sport across Africa since establishing its headquarters in South Africa in 2010. The league’s efforts have encompassed youth and elite development, social responsibility initiatives, media distribution, corporate partnerships, and the establishment of subsidiary offices across the continent.
ALX Ventures, NBA Africa’s partner in the Triple-Double initiative, is committed to harnessing African tech talent to address global challenges through entrepreneurship. Through its tech training hubs and incubators, ALX Ventures has been instrumental in nurturing hundreds of new startup founders each year, driving innovation and economic growth across Africa.
The launch of Triple-Double aligns with US President Biden’s Digital Transformation with Africa initiative, aimed at expanding digital access and literacy and strengthening digital enabling environments across the continent. The announcement of the accelerator program was made by Clare Akamanzi during the American Chamber of Commerce’s Business Summit in Nairobi, Kenya, in the presence of US Secretary of Commerce Gina M. Raimondo and US Trade and Development Agency Director Enoh T. Ebong.
In conclusion, NBA Africa’s Triple-Double initiative represents a significant step forward in supporting African startups, fostering innovation, and driving economic growth across the continent. By providing capital, mentorship, and global connections, NBA Africa and ALX Ventures are empowering entrepreneurs to realize their potential, create impactful solutions, and contribute to the development of vibrant and sustainable tech ecosystems in Africa and beyond.
