Antler Sets Camp in Nairobi to Incubate Startups
Antler, a global accelerator firm has launched its operation the capital city of Kenya.
The firm seeks to work with at least 40 firms that will be able to come up with startups that Antler can invest in.
Shading more light about the same, the firm said that they are much interested with working individuals who core agenda is finding a startup idea and hence the reason as to why they will be using the matchmaking model to admit them.
“We are looking to invest in a minimum of 16 startups every year in Nairobi, but this could be even higher depending on the quality of the ideas coming out of the programme. …. Through our co-founder pairing framework, we dramatically increase the chances of finding a suitable co-founder with complementary skills,” – Antler was quoted by Digest Africa.
The firm which has plans to expand its services to South Africa, Nigeria, and other African countries in the next five years, said that they would be issuing an equity US $100,000 for a 20% equity stake. US $85,000 will be released in the form of cash and the remainder being a “5-month program and comprehensive support.”
The Antler is known to look for people with inner drive, grit and a “spike,” something they’re exceptionally good at.
After identifying them, the participants are given an individual grant from day one, and select teams get investment to kick-start their companies.
This is an excellent idea towards improving personal productivity, as the plan is set to reduce unemployment in the continent significantly.
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