Jasiri Growth Accelerator Faqs – Jasiri

Frequently Asked Questions

Find answers to your questions

01. How is the Jasiri Growth Accelerator different from the other Jasiri programs and other accelerators?

The Jasiri Growth Accelerator (JGA) differs from other accelerator programs in three ways. Firstly, JGA’s investment lens is sector agnostic but focused on startups that are targeting a large unserved or underserved market in Rwanda or Kenya. Secondly, the JGA’s objective is to ensure your venture is derisked and is investment-ready for other future investors. Lastly, the JGA program offers individualised support to each startup, ensuring that your business gets the support it needs.

02.Which types of startups can apply?

We are industry agnostic. However, we are looking for fast-growing and post-revenue early-stage startups that tackle problems for large, unserved, or under-served markets.

03. How does the JGA choose the startups it will work with?

Each application received will be reviewed and assessed on the following criteria (more details can be found in the JGA Program Explainer):

  • Stage: the JGA is looking for early-stage startups.
  • Traction: We are looking for start-ups that demonstrate fast growth and are post-revenue (with at least 6 months of consistent revenue).
  • Focus: JGA targets startups that create products or services for large, unserved, or under-served markets (i.e. a large market that currently lacks access to an effective solution).
  • Bookkeeping & Compliance: the JGA will require applicants to provide evidence of company registration and tax compliance documents and to evidence an established bookkeeping system and up-to-date financial records.

04. How do I know if my startup is targeting a large unserved or underserved market?

JGA is looking for startups innovating in markets where the incumbent solution is too expensive, inconvenient or inaccessible for the average customer. Therefore, if your startup’s solution is creating a simple, convenient and affordable solution(product/service) that replaces a complex, inaccessible and expensive one, then we are looking for you.

05.My startup is pre-revenue, can we still apply?

JGA is tailored for post-revenue startups. However, if you can demonstrate that your startup has significantly acquired users or customers over 6 to 12 months, please go ahead and apply.

06.Where is the JGA located? If my startup is selected, do I have to be based in a specific location?

The JGA program is delivered mostly virtually and in a tailored fashion. You will not be required to move or be stationed anywhere during the accelerator. We shall support you as you work on your business at your current location and online.

07.How much do you invest?

The JGA invests $75,000 via a Simple Agreement for Future Equity (SAFE) note. This amount is split between direct funding for working capital and indirect funding for tailored strategic advisory to address agreed-upon growth priorities. The ultimate aim of the direct and indirect funding is to support your venture to achieve seed-stage investor readiness and access.

08.Is the investment grant or equity funding?

The amount the JGA invests is NOT a grant. It’s for future equity in your business. We shall invest via a SAFE note.

9.Do I have to have a co-founder to apply?

Yes. The JGA is only looking to invest in companies that are run by more than one founder. We are ideally targeting startups with 2-3 co-founders.

10.Do all co-founders have to be Rwandan or Kenyan?

At least one co-founder must be a citizen of and domicile in Rwanda or Kenya. Where we have confidence that the local co-founder has sufficient shareholding in the startup, we are able to accept a founding team with co-founders from other African countries. This, however, will be carefully evaluated on a case-by-case basis.

11.How will the data I submit be used?

All the data you submit will only be used for evaluation purposes. It will be kept strictly confidential. However, it might be stored and used to evaluate your progress in case you reapply in future.

12.What are the application dates?

Applications open on May 6th, 2024, and close on May 31st, 2024 (23.59Hrs—GMT+2).

13.Can we apply if we have been or are currently part of another accelerator program?

Yes, you can still apply if you have participated in another accelerator. The application form has a section that asks about this. Please feel free to let us know what other programs you have participated in.

However, if you are currently participating in another accelerator, that will overlap with the Jasiri Growth Accelerator, please elaborate on why you wish to join JGA and how the programs will work together concurrently.

14.Will you let me know if my startup has not been shortlisted? If so, by when?

Yes, we will give all applicants feedback. Please expect feedback from us by June 14th, 2024.