NBA Africa has initiated a groundbreaking program aimed at supporting African startups, fostering growth within the tech ecosystem, and nurturing the next generation of entrepreneurs in the sports and creative industries.
This initiative, named the “Triple-Double: NBA Africa Startup Accelerator,” is managed by leading technology incubator ALX Ventures.
The primary objective is to provide capital, mentorship, and resources to early-stage startups focusing on various sectors such as event management, ticketing, youth development, AI, and digital marketing.
The overarching goal is to expedite the growth of these startups, thereby contributing to the advancement of African economies.
Program Details
- Application Process: Interested startups can submit their applications until May 31. Submissions will undergo a selection process, and the top 10 startups will be chosen.
- Prizes: Winning startups can receive prizes of up to $50,000 in cash along with value-in-kind benefits.
- Mentorship: The selected startups will be paired with mentors comprising NBA Africa and ALX leadership, as well as corporate stakeholders. Mentors will provide guidance on product development, business growth, and go-to-market strategies.
- Demo Day: In September, NBA Africa will organize a Demo Day in New York City, coinciding with the United Nations General Assembly. Participating startups will pitch their products to a panel of industry leaders, with four winning companies receiving financial support, mentorship, and the opportunity to collaborate with NBA Africa and the Basketball Africa League (BAL) on various initiatives.
NBA Africa’s Mission and Impact
NBA Africa, an affiliate of the NBA, aims to inspire and connect people worldwide through basketball.
Since establishing its African headquarters in South Africa in 2010, NBA Africa has expanded its presence across the continent, with subsidiary offices in Cairo, Dakar, Lagos, and Nairobi.
The organization’s efforts focus on enhancing access to basketball, promoting youth and elite development, fostering social responsibility, expanding media distribution, and advancing corporate partnerships.
Initiatives such as the NBA Africa Games, NBA Stores, and the BAL demonstrate NBA Africa’s commitment to the continent’s growth and development.
ALX Ventures: Partnering for Innovation
ALX Ventures collaborates with African tech talent to address global challenges through entrepreneurship.
Its pan-African tech training hubs and incubators empower hundreds of startup founders annually, driving innovation and economic growth across the continent.
Alignment with US Digital Transformation Initiative
The launch of the Triple-Double Accelerator program aligns with US President Biden’s Digital Transformation with Africa initiative, which seeks to enhance digital access, literacy, and enabling environments across Africa.
This accelerator announcement underscores the commitment to fostering technological innovation and economic empowerment in the region.
Eligibility Criteria
- Operations Headquartered in Africa
- Product Alignment with Sports and Creative Startup Categories
- Proven Demand for Product/Service
- Demonstrable Impact/Relevance to the African Continent
Prizes
- 1st Place: $50,000 cash + $50,000 value-in-kind
- 2nd Place: $40,000 cash + $40,000 value-in-kind
- 3rd Place: $30,000 cash + $30,000 value-in-kind
- 4th Place: $20,000 cash + $20,000 value-in-kind
Benefits of the Accelerator
- Access to Prizing
- Expand Network
- Global Exposure
Eligible Categories of Startups
- Live Event Experience and Ticketing
- Digital Fan Platforms and Connectivity
- AI for Consumers
- Investing in Youth
- Other Sports and Creative Startups
Application Process
Click HERE to apply
Step 1: Written Application
- Deadline: May 22, 2024
- Founders must complete the online application.
- Applications will be reviewed on a rolling basis.
Step 2: One-way Video Interview
- Deadline: May 31, 2024
- Selected startups will participate in a one-way video interview.
- Video submissions should not exceed 5 minutes.
Selection Process
- June 6, 2024: Judges will evaluate submissions and select top startups for the program.
- All applicants will be notified of their application status on June 6.
- June – August 2024: Accelerator program includes mentorship, workshops, and pitch practice.
- September 2024: Demo Day in New York City where startups pitch to industry leaders.
Conclusion
The NBA Africa Triple Double Accelerator program presents an unparalleled opportunity for African startups to receive support, mentorship, and global exposure.
By aligning with the US Digital Transformation with Africa initiative, this program aims to catalyze innovation and drive economic growth across the continent.
Interested startups are encouraged to APPLY and embark on a transformative journey towards success.