Tanzania Breweries Limited (TBL) is seeking to spur the growth of startups in the country by inviting innovators across the country to apply for its 100+ Accelerator programme.
The programme will see a start-up going home with up to $100,000 to implement a pilot project.
The firm’s country director, Jose Moran says that once selected, startups will receive mentorship, training, and up to $100,000 to implement a pilot project.
The programme seeks to solve supply chain challenges across water stewardship, circular economy, sustainable agriculture, climate action, inclusive growth, and biodiversity.
A survey by the Tanzania Start-up Association revealed that at the climax of the pandemic last year, 42% of start-ups reported to be in the “red zone”, going four months or less of cash runway left.
The survey findings, which were compiled after collecting responses from 1,000 start-ups across Tanzania, revealed that 65% of start-ups have had revenues decline. 31% of them have seen their revenue drop by more than 50%.
The survey further indicated that 70% of start-ups were facing difficulties to cover operational costs while 9.7% had failed to repay loans due to decrease in the number of customers during the coronavirus pandemic.
TBL’s accelerator targets innovative solutions that could scale quickly and make a significant impact on challenge areas. It specifically focuses on startups that have a product in the market or one preparing to go to market.
TBL says applicants will be evaluated on a rolling basis, with scoring being assessed based on the values that pertain to how they fit with identified sustainability challenges; their ability to demonstrate traction/product-market fit; market expertise and team as well as capacity to carry out the pilot in the selected global zone.
Start-ups are encouraged to send in their applications during the period between March 28, 2022 and April 30, 2022.
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