Addis Ababa, Ethiopia – Venture Meda: Job Creation through Incubation and Acceleration in Ethiopia, launched in partnership with Mastercard Foundation in partnership, the Ministry of Innovation and Technology and iceaddis, seeks to address employment and economic growth goals in Ethiopia. Through incubation and acceleration initiatives, it aims to create 100 e-commerce start-ups, benefitting young individuals with direct job opportunities and assisting 3,240 small businesses as online third-party marketplace sellers. Additionally, it works towards the broader aim to foster sustainable job creation and expand digital entrepreneurship in Ethiopia.
The accelerator program particularly focuses on aiding existing digital entrepreneurs’ growth and enhancing the capabilities of local actors such as MSMEs to engage in digital entrepreneurship and creating connections with local and international investors and key ecosystem players.
Building on a successful track record, the program’s previous cohort demonstrably bridged the gap between startups, investors, and established entrepreneurs. This fostered a dynamic environment where local MSMEs and digital entrepreneurs received the support and connections needed to not only participate in the digital economy but also achieve significant growth.
The program has announced the selection of seven promising startups for its second accelerator cohort. Marking their onboarding session, these innovative businesses will take ship on a transformative journey designed to help them scale their ventures and march towards success.
“We are incredibly excited to welcome the new group of startups to Venture Meda,” says Lensa Kebede, project lead at Venture Meda. “Their innovative ideas and dedication to addressing important challenges are truly inspiring. We are confident that our program will equip them with the resources and guidance they need to thrive.”
Participating companies will gain access to mentorship from seasoned industry experts, potential funding opportunities, and intensive workshops covering essential aspects of business development and marketing.
Comprising the second Venture Meda acceleration cohort are seven exciting startups:
- Arada Mart: a membership-based retail and e-commerce platform offering a wide range of high-quality products at competitive prices.
- Betty’s Organics:is a vegetable and fruits delivery business that strives to get fresh and clean vegetables from small farmers at the outskirts of Addis Ababa.
- Buy2go: is a platform that is mainly focusing to automate the distribution channel in FMCG industry using the E-commerce B2B platform.
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- Blu Delivery: Is the pioneering and sole food delivery Service in eastern Ethiopia that is currently operating in the Dire Dawa region.
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- JEMLA: is a platform that empowers informal retailers (“Souqs”) by connecting them directly with manufacturers and importers for affordable goods, while also offering access to digital financial services.
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- Muyalogy: is an innovative full-service learning platform that offers a comprehensive suite of online courses in a number of different areas.
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- Kabba Transport: is a transportation company that uses a technological platform to manage demand-based route planning, scheduling, and booking.
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