Microsoft announced plans to support 10,000 startups in Africa over the next five years including partnerships with accelerators and incubators across the continent.
However announced plans to partner with venture capital investors to increase funding access for startups in Africa by unlocking $500 million in “potential” investment
These initiatives will be carried out through the recently established Africa Transformation Office (ATO), which drives Microsoft’s strategic initiatives in Africa by partnering with public and private organizations.
“There is huge potential for Africa to become a thriving hub of digital innovation on the global startup landscape.
Our ambition is to see an explosion of local inventions that will contribute positively not just to Africa’s digital economy, but to global society,” ATO managing director Wael Elkabbany said.
Microsoft joins the growing list of tech companies coming up with initiatives targeting startups in Africa.