Growth Accelerator initiative to support Malawi youth entrepreneurship

 UNDP Malawi in partnership  Royal Norwegian Embassy in Lilongwe, Malawi are supporting a Market Test that aims to support 10 to 12 emerging entrepreneurs with financial and technical assistance to scale up their ventures. These entrepreneurs stand a chance of winning up to $40 000.


In the picture: Minister of Trade and Industry Henry Mussa franked by UNDP Resident Representative Maria Jose Torres and Norwegian Ambassador to Malawi Kikkan Haujen and other officials during a press conference announcing the project

 The programme, called Growth Accelerator will be implemented by Malawi’s first innovation hub and incubator, MHub in partnership with a pan African company focused on the acceleration of local and international businesses, GrowthAfrica – Growth Frontiers and a Netherlands-based investment firm Accesserator. 

 The Growth Accelerator Market Test will start as an Entrepreneurship Innovation Challenge targeting start-up entrepreneurs with an innovative product or service on the market that demonstrates the potential to scale or those looking for investment to take their business to the next level.

 The programme will also enhance acceleration of innovative, scalable, ambitious and impactful early stage Malawian enterprises, acting as a catalyst for the growth of the entrepreneurial ecosystem in Malawi. It will also fill in an important gap in the business start-up development continuum, where there are currently no accelerators supporting business growth beyond incubation.

It is anticipated that the first challenge will be launched in the next few months and between ten to twelve entrepreneurs will be selected from a national call for proposals. Details of the eligibility and application guidelines will be communicated in due course. Watch this space.

 

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