In a bid to promote technological innovation and expansion across Africa, the Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ), Onespace, and Chanzo Capital have launched the Chanzo Onespace Startup and Scaleup Accelerator (COSSA). This initiative aims to support tech ventures that are ready to scale from their home markets into new regions.
Utilizing the strategic incentives and supportive environment of the Two Rivers Special Economic Zone, combined with facilities offered by Onespace and funding from Chanzo Capital’s Kings Fund, COSSA targets startups eager to seize opportunities in Kenya, Ivory Coast, Nigeria, Ghana, and South Africa.
At the launch event, Investment, Trade, and Industry Cabinet Secretary Rebecca Miano highlighted Kenya’s strong position, noting that the country ranked third globally for foreign direct investments (FDIs) in 2024. “As we position Kenya as a hub for innovation, our ministry is committed to investing in our country’s innovative youth,” affirmed CS Miano.
In addition to capital investment, COSSA will provide capacity-building opportunities for participants and facilitate connections within the business communities of target expansion markets. This collaborative effort among leading African institutions seeks to tackle the challenges faced by businesses expanding across the continent, leveraging the African Continental Free Trade Area (AfCFTA) to foster the growth of Pan-African corporations.
Chanzo Capital will also host the eleventh edition of its Angel Fair Africa in Nairobi on November 7-8, 2024. Upon completion of the COSSA program, participating scale-ups will have the opportunity to pitch to a broader audience of investors.
The inaugural cohort includes Kenyan companies SaveApp, At Large Innovation (ThryvCapital Partners LLP), and CheckUPS COVA, all of which are poised for regional expansion.
Onespace CEO Ian Kabiru emphasized their extensive experience in supporting both African and international businesses, ensuring that COSSA participants receive tailored support to enhance their core operations. James Mworia, CEO of Centum, remarked that the launch represents a significant step towards accelerating tech-driven economic growth and fostering cross-border collaboration within Africa’s innovation ecosystem.
COSSA: A New Frontier for African Tech Ventures
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